Eldorado Gold Corporation $EGO Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. increased its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 13.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 345,445 shares of the basic materials company’s stock after buying an additional 40,729 shares during the period. Cibc World Market Inc. owned about 0.17% of Eldorado Gold worth $9,974,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in EGO. Versor Investments LP purchased a new stake in shares of Eldorado Gold in the 3rd quarter valued at approximately $543,000. Navellier & Associates Inc. grew its stake in shares of Eldorado Gold by 7.0% during the third quarter. Navellier & Associates Inc. now owns 66,990 shares of the basic materials company’s stock worth $1,935,000 after purchasing an additional 4,404 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Eldorado Gold by 45.4% during the third quarter. Profund Advisors LLC now owns 25,068 shares of the basic materials company’s stock worth $724,000 after purchasing an additional 7,825 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new position in Eldorado Gold in the third quarter valued at $219,000. Finally, Candriam S.C.A. raised its stake in Eldorado Gold by 8.3% in the third quarter. Candriam S.C.A. now owns 1,270,400 shares of the basic materials company’s stock valued at $36,702,000 after buying an additional 97,900 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Eldorado Gold in a research report on Wednesday, February 4th. Bank of America boosted their target price on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. National Bank Financial reissued an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Finally, Scotiabank upgraded shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.80.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $47.42 on Friday. The stock has a market cap of $9.42 billion, a P/E ratio of 26.35, a P/E/G ratio of 0.20 and a beta of 0.51. Eldorado Gold Corporation has a twelve month low of $13.29 and a twelve month high of $51.16. The stock has a 50 day moving average of $39.43 and a two-hundred day moving average of $31.01. The company has a current ratio of 2.79, a quick ratio of 2.28 and a debt-to-equity ratio of 0.31.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, February 27th.

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.