Eldorado Gold Corporation $EGO Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,673 shares of the basic materials company’s stock after selling 16,874 shares during the period. Pictet Asset Management Holding SA’s holdings in Eldorado Gold were worth $3,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EGO. Parallel Advisors LLC grew its position in shares of Eldorado Gold by 977.4% in the third quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,036 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Eldorado Gold by 4.4% during the 3rd quarter. Alps Advisors Inc. now owns 166,927 shares of the basic materials company’s stock worth $6,425,000 after purchasing an additional 7,088 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Eldorado Gold during the 3rd quarter worth about $305,000. Commonwealth Equity Services LLC lifted its position in shares of Eldorado Gold by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,895 shares of the basic materials company’s stock worth $304,000 after purchasing an additional 360 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in Eldorado Gold by 9.7% during the 3rd quarter. Profund Advisors LLC now owns 20,747 shares of the basic materials company’s stock valued at $799,000 after purchasing an additional 1,828 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EGO has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Jefferies Financial Group began coverage on Eldorado Gold in a report on Thursday, August 20th. They set a “buy” rating and a $50.00 price target for the company. Stifel Nicolaus raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Wall Street Zen cut Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research note on Sunday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Stock Performance

Shares of EGO traded down $0.22 during trading hours on Friday, reaching $31.62. 1,218,543 shares of the company traded hands, compared to its average volume of 4,204,042. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 1.42. The stock’s fifty day moving average is $37.42 and its 200 day moving average is $36.40. Eldorado Gold Corporation has a 1-year low of $26.56 and a 1-year high of $51.16. The stock has a market cap of $8.27 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Eldorado Gold had a return on equity of 10.31% and a net margin of 31.67%. The firm had revenue of $511.90 million for the quarter, compared to analyst estimates of $621.90 million. Equities research analysts anticipate that Eldorado Gold Corporation will post 2.56 earnings per share for the current fiscal year.

Eldorado Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.0750 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.9%. Eldorado Gold’s dividend payout ratio (DPR) is currently 10.00%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian gold mining company headquartered in Vancouver, British Columbia. It explores for, develops and operates mineral properties, with gold as its primary product and silver and base metals also produced at some of its mines. The company’s portfolio spans Canada, Greece and Turkey. Its operations include the Lamaque Complex in Quebec, the Kisladag and Efemcukuru mines in Turkey, and the Olympias mine in Greece. Eldorado is also developing the Skouries copper-gold project in Greece.