U S Global Investors Inc. Acquires 75,000 Shares of Eldorado Gold Corporation $EGO

Key Points

• U.S. Global Investors acquired 75,000 Eldorado Gold shares in the third quarter, worth approximately $2.89 million. Institutional investors and hedge funds collectively own 69.58% of the company.
• Analyst sentiment is generally positive, with Eldorado Gold holding a consensus “Moderate Buy” rating and an average price target of $46.57; Bank of America raised its target to $54.
• Eldorado Gold reported quarterly earnings of $0.54 per share, beating estimates by $0.02, and pays a quarterly dividend of $0.075 per share, equivalent to a 0.9% annual yield.

U S Global Investors Inc. bought a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD during the third quarter, according to its most recent filing with the SEC. The firm bought 75,000 shares of the basic materials company's stock, valued at approximately $2,887,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGO. BlackRock Inc. acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $587,469,000. Van ECK Associates Corp raised its stake in Eldorado Gold by 39.0% during the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company's stock valued at $580,739,000 after purchasing an additional 5,241,277 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in Eldorado Gold during the 2nd quarter valued at $272,580,000. Dimensional Fund Advisors LP boosted its holdings in Eldorado Gold by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company's stock valued at $175,522,000 after purchasing an additional 54,964 shares during the period. Finally, Ninety One UK Ltd boosted its holdings in Eldorado Gold by 5.1% in the 3rd quarter. Ninety One UK Ltd now owns 3,303,287 shares of the basic materials company's stock valued at $127,246,000 after purchasing an additional 158,798 shares during the period. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on EGO. Scotiabank dropped their price objective 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. Weiss Ratings upgraded shares of Eldorado Gold from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Jefferies Financial Group assumed coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They issued a "buy" rating and a $50.00 target price for the company. Canadian Imperial Bank of Commerce raised Eldorado Gold from a "neutral" rating to an "outperform" rating in a research report on Sunday, August 9th. Finally, Bank of America upgraded Eldorado Gold from an "underperform" rating to a "buy" rating and boosted their price target for the company from $32.00 to $54.00 in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.57.

Eldorado Gold Price Performance

NYSE:EGO opened at $32.89 on Friday. The company has a 50-day moving average of $40.80 and a 200-day moving average of $35.45. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.32 and a beta of 0.67. Eldorado Gold Corporation has a 52 week low of $24.44 and a 52 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 earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The business had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 3.02 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.0750 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. Eldorado Gold's dividend payout ratio (DPR) is currently 10.64%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado's operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.

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