Eldorado Gold Corporation $EGO Position Decreased by Carrhae Capital LLP

Carrhae Capital LLP decreased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,909,137 shares of the basic materials company’s stock after selling 988,614 shares during the period. Eldorado Gold comprises approximately 3.3% of Carrhae Capital LLP’s holdings, making the stock its 7th largest position. Carrhae Capital LLP owned about 1.50% of Eldorado Gold worth $121,535,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Eldorado Gold by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after buying an additional 266,048 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Eldorado Gold by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock valued at $2,318,000 after buying an additional 6,383 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Eldorado Gold by 1,209.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock valued at $6,903,000 after acquiring an additional 313,449 shares during the period. Jump Financial LLC purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $859,000. Finally, Cerity Partners LLC increased its holdings in Eldorado Gold by 15.2% in the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 4,758 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Trading Up 2.0%

NYSE EGO traded up $0.87 during trading hours on Tuesday, hitting $43.89. 1,291,284 shares of the company were exchanged, compared to its average volume of 2,861,825. The stock has a 50-day moving average price of $36.38 and a 200 day moving average price of $35.39. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. Eldorado Gold Corporation has a 52 week low of $24.44 and a 52 week high of $51.16. The stock has a market cap of $11.47 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $487.50 million during 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%. Analysts forecast that Eldorado Gold Corporation will post 3.23 earnings per share for the current fiscal year.

Eldorado Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.075 dividend. The ex-dividend date 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 currently 10.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EGO. Jefferies Financial Group initiated coverage on shares of Eldorado Gold in a research note on Thursday, August 20th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank Of Canada decreased their price target on shares of 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. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Scotiabank dropped their price target on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Bank of America raised their price target on Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a report on Thursday, July 9th. Two equities research 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.00.

Eldorado Gold Company 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.