Fund 1 Investments LLC Invests $2.58 Million in Eldorado Gold Corporation $EGO

Key Points

• Fund 1 Investments LLC purchased 82,900 Eldorado Gold shares in the second quarter, valued at approximately $2.58 million. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment remains mixed: Eldorado Gold has an average rating of “Hold” and an average price target of $43.00, despite upgrades from Canadian Imperial Bank of Commerce and downgrades from Zacks Research and Weiss Ratings.
• Eldorado Gold reported quarterly EPS of $0.54, topping estimates of $0.52, but revenue of $487.5 million fell short of forecasts. The company also announced a quarterly dividend of $0.075 per share, representing a 0.7% annualized yield.

Fund 1 Investments LLC purchased a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 82,900 shares of the basic materials company's stock, valued at approximately $2,577,000.

Several other institutional investors have also made changes to their positions in EGO. Goldman Sachs Group Inc. grew its position in Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company's stock worth $13,426,000 after buying an additional 266,048 shares in the last quarter. Geode Capital Management LLC raised its holdings in Eldorado Gold by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company's stock valued at $2,318,000 after acquiring an additional 6,383 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Eldorado Gold by 1,209.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company's stock valued at $6,903,000 after acquiring an additional 313,449 shares during the period. Jump Financial LLC bought a new stake in shares of Eldorado Gold during the 2nd quarter valued at $859,000. Finally, Cerity Partners LLC grew its holdings in shares of Eldorado Gold by 15.2% during the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company's stock worth $733,000 after purchasing an additional 4,758 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EGO shares. Bank of America raised their price target on Eldorado Gold from $31.00 to $33.00 and gave the stock an "underperform" rating in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a "neutral" rating to an "outperform" rating in a research report on Sunday, August 9th. Zacks Research downgraded shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Weiss Ratings lowered shares of Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, June 11th. Finally, Scotiabank dropped their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Eldorado Gold has an average rating of "Hold" and an average target price of $43.00.

Eldorado Gold Trading Down 1.7%

Shares of EGO stock opened at $43.03 on Friday. The stock's fifty day moving average price is $36.14 and its two-hundred day moving average price is $35.49. The company has a market cap of $11.24 billion, a PE ratio of 15.26, a P/E/G ratio of 0.32 and a beta of 0.71. Eldorado Gold Corporation has a fifty-two week low of $24.44 and a fifty-two week high of $51.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%.The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Equities analysts predict that Eldorado Gold Corporation will post 3.23 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold's payout ratio is currently 10.64%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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