Amundi Grows Position in Eldorado Gold Corporation $EGO

Key Points

• Amundi increased its stake in Eldorado Gold Corporation by 17.7% in the first quarter, acquiring an additional 193,586 shares for a total of approximately 1.29 million shares valued at $22.8 million.
• Several hedge funds, including Maverick Capital and L1 Capital, also significantly raised their positions in Eldorado Gold during the same period, indicating strong institutional interest in the company.
• Eldorado Gold reported earnings per share of $0.44 for the last quarter, missing analyst estimates, but its revenue of $459.53 million exceeded expectations, suggesting variability in performance metrics.

Amundi grew its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,289,210 shares of the basic materials company's stock after buying an additional 193,586 shares during the period. Amundi owned 0.63% of Eldorado Gold worth $22,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. D.A. Davidson & CO. bought a new stake in shares of Eldorado Gold during the first quarter valued at about $374,000. Allspring Global Investments Holdings LLC increased its position in shares of Eldorado Gold by 11.0% in 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 purchasing an additional 25,000 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of Eldorado Gold by 43.5% in the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock worth $63,970,000 after purchasing an additional 1,152,909 shares during the last quarter. LPL Financial LLC increased its position in shares of Eldorado Gold by 645.2% in the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after purchasing an additional 145,202 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Eldorado Gold by 2.5% in the first quarter. TD Asset Management Inc now owns 578,577 shares of the basic materials company's stock worth $9,724,000 after purchasing an additional 14,180 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EGO has been the topic of several research analyst reports. Wall Street Zen cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC restated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Finally, National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Price Performance

EGO traded up $0.44 during midday trading on Friday, hitting $28.11. The stock had a trading volume of 2,056,404 shares, compared to its average volume of 1,397,755. The company has a market cap of $5.71 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.45 and a beta of 0.44. The business has a fifty day moving average of $22.65 and a 200 day moving average of $19.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. Eldorado Gold Corporation has a 1 year low of $13.29 and a 1 year high of $28.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The company had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. As a group, equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share 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.