UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 82,204 Shares of Eldorado Gold Corporation $EGO

Key Points

• UBS Asset Management significantly increased its Eldorado Gold stake, purchasing 82,204 additional shares in the second quarter to hold 82,318 shares valued at approximately $2.56 million. Institutional investors collectively own 69.58% of the company.
• Analyst sentiment remains mixed: Jefferies, Stifel Nicolaus and Weiss Ratings issued bullish upgrades, while Zacks Research downgraded the stock to “strong sell.” The shares carry an overall “Hold” rating and an average price target of $43.
• Eldorado Gold reported quarterly EPS of $0.54, slightly above estimates, but revenue of $487.5 million missed expectations. The company also declared a quarterly dividend of $0.075 per share, or $0.30 annualized.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 72,108.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,318 shares of the basic materials company's stock after purchasing an additional 82,204 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Eldorado Gold were worth $2,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EGO. BlackRock Inc. bought a new stake in Eldorado Gold in the second quarter worth $587,469,000. Donald Smith & CO. Inc. bought a new position in Eldorado Gold during the second quarter valued at about $272,580,000. Van ECK Associates Corp lifted its position in shares of Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company's stock worth $580,739,000 after buying an additional 5,241,277 shares during the last quarter. L1 Capital Pty Ltd lifted its position in shares of Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company's stock worth $346,283,000 after buying an additional 2,512,168 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Eldorado Gold during the 2nd quarter worth about $61,156,000. Institutional investors own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EGO. Bank of America increased their price objective on Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a report on Thursday, July 9th. Zacks Research lowered Eldorado Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, July 31st. Weiss Ratings upgraded Eldorado Gold from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. Finally, Jefferies Financial Group started coverage on Eldorado Gold in a report on Thursday, August 20th. They set a "buy" rating and a $50.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $43.00.

Eldorado Gold Stock Down 4.1%

EGO stock opened at $42.75 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85. Eldorado Gold Corporation has a 52-week low of $24.44 and a 52-week high of $51.16. The company has a 50-day moving average of $37.07 and a two-hundred day moving average of $35.34. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.33 and a beta of 0.71.

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

Eldorado Gold Dividend Announcement

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 issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. Eldorado Gold's dividend payout ratio (DPR) is 10.64%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Vancouver-based mid-tier gold producer focused on the exploration, development and operation of precious-metals mining assets. The company primarily produces gold, with some operations also generating silver, lead and zinc concentrates.

Eldorado Gold operates the Lamaque gold mine in Quebec, Canada; the Kisladag and Efemcukuru gold mines in Türkiye; and the Olympias polymetallic mine in northern Greece. The company is also advancing the Skouries project in Greece, a copper-gold development that is expected to expand its production profile.

Founded in 1996, Eldorado has built an international portfolio through acquisitions, exploration and mine development.

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