Candriam S.C.A. Buys Shares of 1,621,926 Eldorado Gold Corporation $EGO

Key Points

• Candriam S.C.A. acquired 1,621,926 shares of Eldorado Gold Corporation, valued at approximately $27.3 million, giving it a 0.79% stake in the company.
• Several other institutional investors increased their stakes in Eldorado Gold, with Continuum Advisory LLC boosting its holdings by 335.3%.
• Eldorado Gold reported earnings of $0.44 per share for the last quarter, missing estimates, but had a revenue of $459.53 million, exceeding the consensus estimate of $401.85 million.

Candriam S.C.A. purchased a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,621,926 shares of the basic materials company's stock, valued at approximately $27,281,000. Candriam S.C.A. owned 0.79% of Eldorado Gold at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC raised its position in Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,945 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after purchasing an additional 682 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 5,294 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Eldorado Gold in the 1st quarter valued at about $186,000. Finally, XTX Topco Ltd acquired a new stake in shares of Eldorado Gold in the first quarter valued at about $207,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Trading Up 3.2%

EGO traded up $0.74 during trading on Tuesday, hitting $24.07. 334,619 shares of the company's stock were exchanged, compared to its average volume of 1,913,487. The stock has a 50 day moving average price of $21.24 and a 200 day moving average price of $18.82. Eldorado Gold Corporation has a 1 year low of $13.29 and a 1 year high of $24.10. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The firm has a market cap of $4.89 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.37 and a beta of 0.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results 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 business had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. As a group, analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Canaccord Genuity Group decreased their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

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.