Mitsubishi UFJ Trust & Banking Corp Makes New $927,000 Investment in Eldorado Gold Corporation $EGO

Mitsubishi UFJ Trust & Banking Corp bought a new stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,086 shares of the basic materials company’s stock, valued at approximately $927,000.

A number of other large investors also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Eldorado Gold by 2.3% in the third quarter. Jennison Associates LLC now owns 8,173,003 shares of the basic materials company’s stock valued at $236,118,000 after buying an additional 182,780 shares in the last quarter. Olympiad Research LP bought a new position in Eldorado Gold during the 3rd quarter worth $367,000. Jacobsen Capital Management acquired a new position in Eldorado Gold in the 3rd quarter valued at $217,000. Allspring Global Investments Holdings LLC lifted its position in shares of Eldorado Gold by 99.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 554,300 shares of the basic materials company’s stock valued at $16,004,000 after acquiring an additional 276,000 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in shares of Eldorado Gold during the 3rd quarter worth $223,000. Institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, January 21st. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank upgraded shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Bank of America lifted their price target on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.20.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock opened at $42.90 on Friday. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 0.25 and a beta of 0.54. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. Eldorado Gold Corporation has a twelve month low of $13.29 and a twelve month high of $51.16. The company’s fifty day moving average is $37.16 and its 200 day moving average is $29.58.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). The firm had revenue of $436.44 million for the quarter, compared to the consensus estimate of $422.25 million. Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%. Sell-side analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 27th.

About Eldorado Gold

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.