49,987 Shares in Eldorado Gold Corporation $EGO Bought by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. acquired a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 49,987 shares of the basic materials company’s stock, valued at approximately $1,929,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Eldorado Gold in the second quarter worth $587,469,000. Donald Smith & CO. Inc. purchased a new position in shares of Eldorado Gold in the 2nd quarter worth about $272,580,000. Van ECK Associates Corp raised its position in shares of Eldorado Gold by 39.0% in the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock worth $580,739,000 after purchasing an additional 5,241,277 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Eldorado Gold in the 2nd quarter worth about $61,156,000. Finally, Deutsche Bank AG bought a new position in Eldorado Gold in the 2nd quarter worth about $44,892,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Canadian Imperial Bank of Commerce raised shares of Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Scotiabank reduced their price objective on shares of Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Eldorado Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Bank of America upgraded shares of Eldorado Gold from an “underperform” rating to a “buy” rating and upped their target price for the stock from $32.00 to $54.00 in a research note on Tuesday, September 22nd. Finally, Royal Bank Of Canada increased their price target on shares of Eldorado Gold from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.57.

Eldorado Gold Stock Down 2.4%

Shares of EGO stock traded down $0.90 during mid-day trading on Tuesday, hitting $36.64. The company’s stock had a trading volume of 2,574,302 shares, compared to its average volume of 2,901,969. Eldorado Gold Corporation has a 52-week low of $24.44 and a 52-week high of $51.16. The business has a 50-day moving average price of $41.14 and a 200 day moving average price of $35.41. 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 stock has a market cap of $9.58 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.28 and a beta of 0.67.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly 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 firm had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a return on equity of 10.91% and a net margin of 29.83%. Research analysts predict that Eldorado Gold Corporation will post 3.13 EPS for the current fiscal year.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.0750 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. Eldorado Gold’s payout ratio is currently 10.64%.

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.