L1 Capital Pty Ltd Has $346.28 Million Stock Holdings in Eldorado Gold Corporation $EGO

L1 Capital Pty Ltd lifted its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 35.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,640,407 shares of the basic materials company’s stock after buying an additional 2,512,168 shares during the period. Eldorado Gold makes up approximately 18.1% of L1 Capital Pty Ltd’s portfolio, making the stock its biggest holding. L1 Capital Pty Ltd owned 4.85% of Eldorado Gold worth $346,283,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EGO. Flagship Harbor Advisors LLC bought a new stake in Eldorado Gold during the 4th quarter valued at $36,000. Aventura Private Wealth LLC bought a new position in shares of Eldorado Gold in the fourth quarter worth $36,000. Wexford Capital LP bought a new position in Eldorado Gold in the third quarter valued at $37,000. Headlands Technologies LLC bought a new position in Eldorado Gold in the second quarter valued at $32,000. Finally, State of Wyoming bought a new position in Eldorado Gold in the second quarter valued at $58,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EGO shares. Citigroup cut Eldorado Gold to a “sector perform” rating in a research note on Monday, May 4th. Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price for the company. in a report on Tuesday, February 17th. TD Securities dropped their target price on shares of Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Finally, Canaccord Genuity Group lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $30.62 on Friday. Eldorado Gold Corporation has a fifty-two week low of $19.56 and a fifty-two week high of $51.16. The company has a 50 day simple moving average of $32.73 and a two-hundred day simple moving average of $36.51. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

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 for the quarter, beating analysts’ consensus estimates of $0.69 by $0.26. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. The business had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. Analysts expect that Eldorado Gold Corporation will post 4.27 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 1.0%. Eldorado Gold’s dividend payout ratio (DPR) is 10.68%.

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.