Arrowstreet Capital Limited Partnership Has $66.08 Million Position in Eldorado Gold Corporation $EGO

Arrowstreet Capital Limited Partnership cut its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 65.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,924,342 shares of the basic materials company’s stock after selling 3,621,732 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.97% of Eldorado Gold worth $66,084,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP lifted its stake in Eldorado Gold by 25.8% in the first quarter. First Trust Advisors LP now owns 144,109 shares of the basic materials company’s stock valued at $4,949,000 after buying an additional 29,592 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 54,964 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Eldorado Gold by 14.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 896,300 shares of the basic materials company’s stock valued at $30,785,000 after acquiring an additional 110,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Eldorado Gold by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 65,774 shares of the basic materials company’s stock valued at $2,258,000 after acquiring an additional 1,841 shares during the period. Finally, Cvfg LLC bought a new position in Eldorado Gold during the 1st quarter worth approximately $2,163,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EGO shares. Citigroup downgraded shares of Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, TD Securities dropped their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.83.

Eldorado Gold Stock Up 0.0%

EGO stock opened at $31.89 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.18. The stock has a market capitalization of $8.33 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.22 and a beta of 0.62. Eldorado Gold Corporation has a fifty-two week low of $20.15 and a fifty-two week high of $51.16. The business has a 50-day moving average of $31.30 and a 200-day moving average of $36.01.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. The business had revenue of $532.43 million for the quarter, compared to analyst estimates of $503.31 million. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 3.41 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Eldorado Gold’s payout ratio is currently 10.68%.

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.