Carrhae Capital LLP Has $144.05 Million Holdings in Eldorado Gold Corporation $EGO

Carrhae Capital LLP decreased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 19.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,010,214 shares of the basic materials company’s stock after selling 984,524 shares during the period. Eldorado Gold makes up approximately 5.4% of Carrhae Capital LLP’s portfolio, making the stock its 4th largest position. Carrhae Capital LLP’s holdings in Eldorado Gold were worth $144,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of EGO. Van ECK Associates Corp lifted its stake in shares of Eldorado Gold by 33.9% in the 3rd quarter. Van ECK Associates Corp now owns 16,499,858 shares of the basic materials company’s stock valued at $476,679,000 after purchasing an additional 4,173,963 shares during the last quarter. TT International Asset Management LTD increased its position in Eldorado Gold by 1,730.9% during the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company’s stock worth $26,916,000 after buying an additional 710,290 shares during the last quarter. Schroder Investment Management Group raised its holdings in Eldorado Gold by 94.9% during the third quarter. Schroder Investment Management Group now owns 1,448,558 shares of the basic materials company’s stock valued at $41,240,000 after buying an additional 705,140 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Eldorado Gold during the second quarter valued at about $13,387,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Eldorado Gold by 241.4% in the second quarter. Qube Research & Technologies Ltd now owns 682,945 shares of the basic materials company’s stock worth $13,891,000 after buying an additional 482,915 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 15th. Scotiabank lowered their price target on Eldorado Gold from $58.00 to $56.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 21st. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Wednesday, April 15th. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Canaccord Genuity Group downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $44.50.

Eldorado Gold Trading Down 1.2%

Shares of EGO stock opened at $31.31 on Friday. The firm has a market capitalization of $8.17 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.18 and a beta of 0.56. Eldorado Gold Corporation has a 1 year low of $19.31 and a 1 year high of $51.16. The firm’s fifty day simple moving average is $33.72 and its 200 day simple moving average is $36.09. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly 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. The firm had revenue of $532.43 million during the quarter, compared to the consensus estimate of $503.31 million. Eldorado Gold had a net margin of 28.62% and a return on equity of 11.60%. As a group, sell-side analysts predict that Eldorado Gold Corporation will post 4.27 EPS for the current year.

Eldorado Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.0%. Eldorado Gold’s dividend payout ratio is currently 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.