Caisse de depot et placement du Quebec Buys Shares of 236,436 Eldorado Gold Corporation $EGO

Caisse de depot et placement du Quebec purchased a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 236,436 shares of the basic materials company’s stock, valued at approximately $7,356,000.

A number of other large investors have also made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Eldorado Gold during the second quarter worth $32,000. Smartleaf Asset Management LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth $33,000. Wexford Capital LP purchased a new position in Eldorado Gold during the 3rd quarter worth $37,000. State of Wyoming purchased a new position in Eldorado Gold during the 2nd quarter worth $58,000. Finally, EFG International AG acquired a new position in Eldorado Gold during the 2nd quarter valued at about $62,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings cut Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada dropped their price target on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Zacks Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Scotiabank dropped their target price on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Eldorado Gold Stock Performance

NYSE EGO opened at $45.48 on Friday. The stock has a 50-day moving average of $34.89 and a 200 day moving average of $35.53. Eldorado Gold Corporation has a twelve month low of $23.95 and a twelve month high of $51.16. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.33 and a beta of 0.63. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. Sell-side analysts anticipate that Eldorado Gold Corporation will post 3.23 EPS for the current fiscal 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 paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Eldorado Gold’s payout ratio is 10.64%.

Eldorado Gold Profile

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.