Wellington Management Group LLP Purchases Shares of 1,965,672 Eldorado Gold Corporation $EGO

Wellington Management Group LLP purchased a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,965,672 shares of the basic materials company’s stock, valued at approximately $61,156,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Savant Capital LLC boosted its stake in Eldorado Gold by 2.7% in the 4th quarter. Savant Capital LLC now owns 14,135 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 371 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Eldorado Gold by 0.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company’s stock worth $1,794,000 after purchasing an additional 582 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Eldorado Gold by 8.7% during the 1st 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 in the last quarter. Smartleaf Asset Management LLC acquired a new position in Eldorado Gold during the 4th quarter valued at approximately $33,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Eldorado Gold by 8.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,904 shares of the basic materials company’s stock worth $428,000 after buying an additional 949 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Stock Up 0.6%

NYSE:EGO opened at $43.10 on Thursday. The firm has a market capitalization of $11.26 billion, a P/E ratio of 15.28, a PEG ratio of 0.31 and a beta of 0.71. Eldorado Gold Corporation has a 1-year low of $24.44 and a 1-year high of $51.16. The company’s fifty day moving average price is $35.63 and its 200-day moving average price is $35.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 0.85.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $487.50 million during the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 3.23 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. Eldorado Gold’s dividend payout ratio (DPR) is presently 10.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EGO shares. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Bank of America raised their target price on Eldorado Gold from $31.00 to $33.00 and gave the stock an “underperform” rating in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Royal Bank Of Canada cut their price objective on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.