D.A. Davidson & CO. Makes New Investment in Eldorado Gold Corporation (NYSE:EGO)

D.A. Davidson & CO. acquired 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,230 shares of the basic materials company's stock, valued at approximately $374,000.

A number of other large investors have also made changes to their positions in the stock. Continuum Advisory LLC increased its stake 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 valued at $42,000 after acquiring an additional 1,945 shares during the period. TD Waterhouse Canada Inc. increased its stake in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 682 shares during the period. Tradition Wealth Management LLC bought a new stake in Eldorado Gold in the fourth quarter valued at about $153,000. Envestnet Asset Management Inc. bought a new stake in Eldorado Gold in the fourth quarter valued at about $183,000. Finally, Fox Run Management L.L.C. bought a new stake in Eldorado Gold during the fourth quarter worth about $254,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank Of Canada upped their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, June 24th. Finally, CIBC upped their price objective on shares of Eldorado Gold from $23.00 to $32.00 and gave the stock an "outperformer" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Price Performance

Shares of EGO traded down $0.15 during mid-day trading on Tuesday, hitting $20.37. 1,239,469 shares of the company traded hands, compared to its average volume of 1,692,399. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $21.79. 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 business has a 50-day moving average of $20.14 and a 200 day moving average of $17.40. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 0.35 and a beta of 0.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. The company had revenue of $341.59 million for the quarter, compared to the consensus estimate of $319.83 million. As a group, equities analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

About Eldorado Gold

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.