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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd grew its position in shares of Eldorado Gold by 648.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock valued at $39,408,000 after acquiring an additional 2,296,018 shares during the period. Carrhae Capital LLP increased its position in Eldorado Gold by 13.9% in the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock worth $89,826,000 after buying an additional 738,233 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Eldorado Gold in the fourth quarter worth about $6,973,000. BNP Paribas Financial Markets raised its stake in shares of Eldorado Gold by 231.7% in the fourth quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock worth $8,192,000 after buying an additional 384,793 shares during the period. Finally, Heartland Advisors Inc. purchased a new position in shares of Eldorado Gold during the 4th quarter valued at about $4,709,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

EGO stock traded up $0.03 during mid-day trading on Wednesday, hitting $19.87. The company had a trading volume of 1,524,360 shares, compared to its average volume of 1,693,676. The company has a 50-day moving average price of $20.07 and a 200 day moving average price of $17.30. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $21.79. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.34 and a beta of 0.46. The company has a quick ratio of 2.53, a current ratio of 3.12 and a debt-to-equity ratio of 0.23.

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

Wall Street Analysts Forecast Growth

EGO has been the subject of several analyst reports. Canaccord Genuity Group reduced their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank raised their price objective 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. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.