Public Employees Retirement System of Ohio Makes New Investment in Eldorado Gold Corporation $EGO

Key Points

• Public Employees Retirement System of Ohio purchased 98,495 Eldorado Gold shares during the second quarter, valued at approximately $3.06 million. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment is mixed: Eldorado Gold has an average rating of “Hold” and an average price target of $43, with recent ratings ranging from “Strong Sell” to “Buy.”
• The company exceeded quarterly EPS expectations, reporting $0.54 versus the $0.52 consensus estimate, while revenue of $487.5 million fell short of forecasts. Eldorado also declared a quarterly dividend of $0.075 per share, representing a 0.7% yield.

Public Employees Retirement System of Ohio bought a new position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 98,495 shares of the basic materials company's stock, valued at approximately $3,064,000.

Several other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC bought a new stake in Eldorado Gold during the fourth quarter worth $33,000. Wexford Capital LP bought a new position in Eldorado Gold in the 3rd quarter valued at $37,000. Headlands Technologies LLC bought a new position in Eldorado Gold in the 2nd quarter valued at $32,000. EFG International AG purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at $62,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eldorado Gold during the 4th quarter valued at $98,000. 69.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EGO. Zacks Research lowered shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Weiss Ratings cut shares of Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Jefferies Financial Group initiated coverage on shares of Eldorado Gold in a research report on Thursday, August 20th. They set a "buy" rating and a $50.00 target price for the company. Royal Bank Of Canada decreased their price target on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank lowered their price target on shares of Eldorado Gold from $55.00 to $47.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $43.00.

Eldorado Gold Stock Down 1.7%

Shares of NYSE EGO opened at $43.03 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. The company has a market cap of $11.24 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.32 and a beta of 0.71. Eldorado Gold Corporation has a 52 week low of $24.44 and a 52 week high of $51.16. The business has a 50-day simple moving average of $36.14 and a two-hundred day simple moving average of $35.49.

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

Eldorado Gold Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.