Ninety One UK Ltd Buys 158,798 Shares of Eldorado Gold Corporation $EGO

Ninety One UK Ltd boosted its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 5.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,303,287 shares of the basic materials company’s stock after purchasing an additional 158,798 shares during the quarter. Ninety One UK Ltd owned about 1.26% of Eldorado Gold worth $127,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC acquired a new position in shares of Eldorado Gold during the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Eldorado Gold by 8.7% during the first quarter. EverSource Wealth Advisors LLC now owns 10,216 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 819 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Eldorado Gold by 217.4% in the third quarter. Farther Finance Advisors LLC now owns 1,295 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 887 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Eldorado Gold in the third quarter valued at approximately $58,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Eldorado Gold by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 65,774 shares of the basic materials company’s stock valued at $2,258,000 after purchasing an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Trading Up 3.6%

Shares of NYSE:EGO traded up $1.23 during trading on Thursday, hitting $35.68. 1,448,373 shares of the company’s stock were exchanged, compared to its average volume of 2,901,260. 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 firm has a market cap of $9.33 billion, a P/E ratio of 12.64, a PEG ratio of 0.33 and a beta of 0.67. The firm has a 50-day moving average price of $41.21 and a two-hundred day moving average price of $35.44. Eldorado Gold Corporation has a 1-year low of $24.44 and a 1-year high of $51.16.

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 the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The business had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Equities analysts predict that Eldorado Gold Corporation will post 3.13 earnings per share for the current year.

Eldorado Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.0750 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. Eldorado Gold’s payout ratio is presently 10.64%.

Wall Street Analyst Weigh In

Several research firms have issued reports on EGO. Weiss Ratings raised Eldorado Gold from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Canadian Imperial Bank of Commerce upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Royal Bank Of Canada lifted their target price on Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Bank of America raised Eldorado Gold from an “underperform” rating to a “buy” rating and lifted their target price for the company from $32.00 to $54.00 in a research note on Tuesday, September 22nd. Finally, Scotiabank dropped their target price on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.57.

Eldorado Gold Profile

Eldorado Gold Corporation is a Canadian gold mining company engaged in the exploration, development, construction and operation of gold mines. The company produces gold doré and concentrates, with its activities focused on operating and advancing assets in Türkiye, Greece and Canada.

Eldorado Gold’s principal producing operations include the Kisladag and Efemcukuru mines in Türkiye, the Olympias mine in northern Greece and the Lamaque mine in Quebec, Canada. The company is also advancing the Skouries project in Greece, a copper-gold development intended to produce both copper concentrate and gold.

The company traces its modern history to the 1990s and has expanded through exploration, mine development and acquisitions, including the acquisition of European Goldfields and Integra Gold.