Gabelli Funds LLC Purchases 141,900 Shares of Eldorado Gold Corporation $EGO

Key Points

• Gabelli Funds LLC increased its stake in Eldorado Gold by 11.8%, buying 141,900 shares to own 1,342,600 shares (about 0.67% of the company) worth roughly $38.79 million.
• Analyst sentiment is mixed with an average rating of "Hold" and a consensus price target of $43.71 (one Strong Buy, three Buy, five Hold, one Sell).
• Eldorado reported Q results with EPS $0.63 (missed by $0.01) and revenue $575.14M (beat estimates), announced a quarterly dividend of $0.075 (annualized $0.30, yield 0.7%), and has a market cap of $8.02 billion with a P/E of 16.29.

Gabelli Funds LLC boosted its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,342,600 shares of the basic materials company's stock after buying an additional 141,900 shares during the quarter. Gabelli Funds LLC owned approximately 0.67% of Eldorado Gold worth $38,788,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EGO. Arrowstreet Capital Limited Partnership lifted its position in Eldorado Gold by 228.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company's stock worth $101,649,000 after acquiring an additional 3,472,504 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Eldorado Gold in the second quarter valued at about $13,387,000. Acadian Asset Management LLC bought a new position in shares of Eldorado Gold in the second quarter worth about $11,023,000. Qube Research & Technologies Ltd increased its stake in shares of Eldorado Gold by 241.4% in the second quarter. Qube Research & Technologies Ltd now owns 682,945 shares of the basic materials company's stock worth $13,891,000 after purchasing an additional 482,915 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Eldorado Gold by 36.5% during the 3rd quarter. American Century Companies Inc. now owns 1,565,341 shares of the basic materials company's stock worth $45,207,000 after purchasing an additional 418,982 shares during the last quarter. Institutional investors own 69.58% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EGO. TD Cowen lowered their target price on Eldorado Gold from $47.00 to $45.00 and set a "hold" rating on the stock in a report on Tuesday, February 24th. Royal Bank Of Canada lowered Eldorado Gold from an "outperform" rating to a "sector perform" rating and set a $48.00 price target for the company. in a report on Tuesday, February 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Scotiabank lowered their price objective on shares of Eldorado Gold from $59.00 to $58.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, February 25th. Finally, Bank of America boosted their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an "underperform" rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $43.71.

Eldorado Gold Stock Down 0.1%

EGO stock opened at $40.41 on Friday. Eldorado Gold Corporation has a twelve month low of $14.06 and a twelve month high of $51.16. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.02 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.14 and a beta of 0.51. The business's 50-day simple moving average is $42.22 and its 200 day simple moving average is $33.32.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. The firm had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. On average, research analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. Eldorado Gold's payout ratio is currently 12.10%.

About Eldorado Gold

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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