Alps Advisors Inc. Makes New $250,000 Investment in Eldorado Gold Corporation (NYSE:EGO)

Alps Advisors Inc. bought a new stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,873 shares of the basic materials company's stock, valued at approximately $250,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Eldorado Gold by 36.7% in the first quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company's stock worth $311,000 after buying an additional 4,966 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Eldorado Gold in the 1st quarter valued at approximately $374,000. Allspring Global Investments Holdings LLC increased its position in Eldorado Gold by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after buying an additional 25,000 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of 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 in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Eldorado Gold in the fourth quarter worth about $6,973,000. Institutional investors own 69.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EGO shares. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Canaccord Genuity Group decreased 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 note on Monday, May 5th. Royal Bank Of Canada boosted their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, Scotiabank upped 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 note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Eldorado Gold has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Stock Up 3.4%

Shares of Eldorado Gold stock traded up $0.67 during trading on Monday, reaching $20.42. The stock had a trading volume of 1,855,579 shares, compared to its average volume of 1,691,130. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $21.79. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 0.34 and a beta of 0.46. The company has a current ratio of 3.12, a quick ratio of 2.53 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $20.19 and a two-hundred day moving average price of $17.58.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its earnings results 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 return on equity of 8.41% and a net margin of 23.10%. The business had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. Sell-side analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Eldorado Gold Profile

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.