Sei Investments Co. Sells 21,352 Shares of Eldorado Gold Corporation $EGO

Sei Investments Co. lowered its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 51.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,231 shares of the basic materials company’s stock after selling 21,352 shares during the quarter. Sei Investments Co.’s holdings in Eldorado Gold were worth $695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. L1 Capital Pty Ltd increased its holdings in shares of Eldorado Gold by 35.2% in the fourth quarter. L1 Capital Pty Ltd now owns 9,640,407 shares of the basic materials company’s stock worth $346,283,000 after purchasing an additional 2,512,168 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Eldorado Gold by 2.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,546,074 shares of the basic materials company’s stock worth $199,274,000 after buying an additional 132,170 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Eldorado Gold by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,113,413 shares of the basic materials company’s stock valued at $175,522,000 after buying an additional 54,964 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after buying an additional 1,631,373 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Eldorado Gold by 490.6% during the 4th quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock valued at $64,193,000 after buying an additional 1,484,503 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank reduced their price objective on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Eldorado Gold from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Stifel Nicolaus upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Bank of America upped their price target on shares of Eldorado Gold from $31.00 to $33.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $41.83.

Eldorado Gold Stock Performance

NYSE EGO opened at $39.69 on Friday. The company has a market cap of $10.37 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.28 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.31. The business’s 50 day moving average price is $32.33 and its 200-day moving average price is $35.45. Eldorado Gold Corporation has a fifty-two week low of $21.84 and a fifty-two week high of $51.16.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results 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. The company had revenue of $487.50 million for the quarter, compared to analyst estimates of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Sell-side analysts predict that Eldorado Gold Corporation will post 3.2 earnings per share for the current year.

Eldorado Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold’s dividend payout ratio is presently 10.64%.

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.