Sei Investments Co. Trims Stake in Eldorado Gold Corporation $EGO

Sei Investments Co. reduced its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 51.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 20,231 shares of the basic materials company’s stock after selling 21,352 shares during the period. Sei Investments Co.’s holdings in Eldorado Gold were worth $695,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC purchased a new stake in Eldorado Gold during the fourth quarter worth $33,000. Wexford Capital LP purchased a new position in shares of Eldorado Gold in the 3rd quarter valued at $37,000. Headlands Technologies LLC purchased a new position in shares of Eldorado Gold in the 2nd quarter valued at $32,000. EFG International AG bought a new position in shares of Eldorado Gold in the 4th quarter worth $72,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eldorado Gold during the 4th quarter worth $98,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGO has been the topic of several analyst reports. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Weiss Ratings cut shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Royal Bank Of Canada cut their price objective on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Finally, ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and an average target price of $41.83.

Eldorado Gold Trading Up 3.2%

NYSE:EGO opened at $39.69 on Friday. Eldorado Gold Corporation has a 12 month low of $21.84 and a 12 month high of $51.16. The firm has a fifty day simple moving average of $32.33 and a 200-day simple moving average of $35.45. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $10.37 billion, a P/E ratio of 14.07, a PEG ratio of 0.28 and a beta of 0.63.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share for the quarter, beating 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 analyst estimates of $529.92 million. On average, equities research analysts anticipate that Eldorado Gold Corporation will post 3.2 earnings per share for the current year.

Eldorado Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold’s payout ratio is presently 10.64%.

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.