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Deutsche Bank AG Acquires 400,477 Shares of Eldorado Gold Corporation $EGO

Eldorado Gold logo with Basic Materials background

Key Points

  • Deutsche Bank AG increased its holdings in Eldorado Gold Corporation by 85.2%, acquiring an additional 400,477 shares, bringing its total ownership to approximately 870,357 shares valued at $14.6 million.
  • At present, about 69.58% of Eldorado Gold's stock is owned by institutional investors, indicating strong interest from the investment community.
  • Eldorado Gold's recent earnings report showed a missed EPS estimate of $0.44 compared to the consensus of $0.51, although it surpassed revenue expectations with $459.53 million in the quarter.
  • Looking to export and analyze Eldorado Gold data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Deutsche Bank AG raised its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 85.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 870,357 shares of the basic materials company's stock after buying an additional 400,477 shares during the period. Deutsche Bank AG owned about 0.42% of Eldorado Gold worth $14,639,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Eldorado Gold by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company's stock worth $134,984,000 after buying an additional 148,567 shares in the last quarter. Ruffer LLP purchased a new stake in Eldorado Gold in the 1st quarter worth $16,687,000. XTX Topco Ltd purchased a new stake in Eldorado Gold in the 1st quarter worth $207,000. LPL Financial LLC increased its stake in Eldorado Gold by 645.2% in the 1st quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after buying an additional 145,202 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Eldorado Gold by 2.5% in the 1st quarter. TD Asset Management Inc now owns 578,577 shares of the basic materials company's stock worth $9,724,000 after buying an additional 14,180 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Trading Down 0.2%

Shares of NYSE:EGO traded down $0.05 during trading on Monday, reaching $22.79. The company's stock had a trading volume of 420,859 shares, compared to its average volume of 1,946,088. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $23.58. The firm's 50 day simple moving average is $21.03 and its two-hundred day simple moving average is $18.48. The stock has a market capitalization of $4.63 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.36 and a beta of 0.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $459.53 million during 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%. On average, research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EGO shares. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group cut their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. CIBC restated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Finally, Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

Get Our Latest Stock Report on EGO

About Eldorado Gold

(Free Report)

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.

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Institutional Ownership by Quarter for Eldorado Gold (NYSE:EGO)

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