Counterpoint Mutual Funds LLC Buys New Position in Eldorado Gold Corporation $EGO

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in Eldorado Gold Corporation, purchasing 17,171 shares valued at approximately $349,000 in the second quarter.
• Eldorado Gold reported a quarterly EPS of $0.44, missing analysts' expectations of $0.51, although revenue of $459.53 million exceeded the consensus estimate.
• Wall Street analysts have upgraded Eldorado Gold to a "buy" rating, indicating a positive outlook for the company's stock amidst a consensus rating of "Moderate Buy."

Counterpoint Mutual Funds LLC bought a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,171 shares of the basic materials company's stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EGO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eldorado Gold by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock valued at $2,664,000 after purchasing an additional 1,174 shares in the last quarter. LaSalle St. Investment Advisors LLC boosted its position in shares of Eldorado Gold by 7.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock valued at $329,000 after purchasing an additional 1,275 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Eldorado Gold by 5.4% during the 1st quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company's stock valued at $517,000 after purchasing an additional 1,580 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,945 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Eldorado Gold by 36.7% during the 1st quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company's stock valued at $311,000 after purchasing an additional 4,966 shares in the last quarter. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Trading Down 1.9%

NYSE:EGO opened at $28.08 on Thursday. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $29.24. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.45 and a beta of 0.44. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $23.86 and its 200-day moving average is $20.61.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The firm had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Equities analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EGO shares. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.60.

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.

Want to see what other hedge funds are holding EGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.