Cerity Partners LLC Purchases 12,101 Shares of Eldorado Gold Corporation (NYSE:EGO)

Key Points

• Cerity Partners LLC increased its stake in Eldorado Gold Corporation by 63.1%, owning 31,281 shares valued at approximately $526,000 as of the latest reporting period.
• Institutional investors collectively hold 69.58% of Eldorado Gold's stock, indicating strong interest from larger investment firms.
• Recent analyst ratings include a downgrade by Canaccord Genuity, lowering the price target from $29.00 to $27.00, while Wall Street Zen upgraded the stock from "hold" to "buy."

Cerity Partners LLC grew its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 63.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,281 shares of the basic materials company's stock after purchasing an additional 12,101 shares during the period. Cerity Partners LLC's holdings in Eldorado Gold were worth $526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Eldorado Gold during the 4th quarter worth approximately $1,249,000. HighTower Advisors LLC bought a new stake in Eldorado Gold during the 4th quarter worth approximately $461,000. Sei Investments Co. bought a new stake in Eldorado Gold during the 4th quarter worth approximately $1,088,000. Fox Run Management L.L.C. bought a new stake in Eldorado Gold during the 4th quarter worth approximately $254,000. Finally, LPL Financial LLC increased its holdings in Eldorado Gold by 100.6% during the 4th quarter. LPL Financial LLC now owns 22,506 shares of the basic materials company's stock worth $335,000 after acquiring an additional 11,285 shares during the period. Institutional investors own 69.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada upped their target price 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. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Three 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Trading Up 1.7%

Eldorado Gold stock traded up $0.35 during trading hours on Tuesday, reaching $20.77. The company had a trading volume of 263,229 shares, compared to its average volume of 1,950,467. 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 50-day moving average price of $20.52 and a 200 day moving average price of $17.79. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.34 and a beta of 0.46. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $21.79.

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 company had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. Equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Eldorado Gold Company 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.