Allspring Global Investments Holdings LLC Raises Stock Position in Eldorado Gold Corporation (NYSE:EGO)

Allspring Global Investments Holdings LLC lifted its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,300 shares of the basic materials company's stock after buying an additional 25,000 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of Eldorado Gold worth $4,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Continuum Advisory LLC raised its stake in Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,945 shares during the period. Wellington Management Group LLP purchased a new position in Eldorado Gold during the fourth quarter worth about $6,973,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Eldorado Gold during the fourth quarter valued at about $1,280,000. Mackenzie Financial Corp increased its position in shares of Eldorado Gold by 44.9% during the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company's stock valued at $11,102,000 after acquiring an additional 231,515 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Eldorado Gold during the fourth quarter valued at about $504,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Stock Up 0.3%

Shares of EGO stock traded up $0.06 during trading on Thursday, reaching $19.95. The company's stock had a trading volume of 1,175,780 shares, compared to its average volume of 1,691,613. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.12 and a quick ratio of 2.53. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.34 and a beta of 0.46. The stock's 50-day moving average price is $20.07 and its 200 day moving average price is $17.30. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $21.79.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. The business had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. On average, research analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EGO. Wall Street Zen upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Royal Bank Of Canada lifted their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, June 24th. Canaccord Genuity Group dropped their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Scotiabank lifted their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $21.70.

About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.