Edmond DE Rothschild Holding S.A. Grows Stock Position in Eldorado Gold Corporation $EGO

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Eldorado Gold Corporation by 47.0%, acquiring an additional 36,848 shares to reach a total of 115,295 shares, valued at approximately $1.94 million.
• Other institutional investors, including Candriam S.C.A. and L1 Capital Pty Ltd, have also significantly increased their holdings in Eldorado Gold, with institutional investors now owning 69.58% of the company's stock.
• Eldorado Gold reported $0.44 earnings per share, missing estimates, while revenue fell below expectations at $459.53 million, compared to an estimate of $401.85 million.

Edmond DE Rothschild Holding S.A. grew its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 47.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,295 shares of the basic materials company's stock after acquiring an additional 36,848 shares during the quarter. Edmond DE Rothschild Holding S.A. owned about 0.06% of Eldorado Gold worth $1,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EGO. Candriam S.C.A. purchased a new position in shares of Eldorado Gold in the first quarter valued at approximately $27,281,000. L1 Capital Pty Ltd lifted its position in shares of Eldorado Gold by 22.7% in the first quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock valued at $147,580,000 after acquiring an additional 1,621,173 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of Eldorado Gold by 43.5% in the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after acquiring an additional 1,152,909 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Eldorado Gold in the first quarter valued at approximately $16,815,000. Finally, Ruffer LLP purchased a new position in shares of Eldorado Gold in the first quarter valued at approximately $16,687,000. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Price Performance

EGO stock opened at $25.23 on Friday. The business has a fifty day moving average of $21.88 and a two-hundred day moving average of $19.33. 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 stock has a market cap of $5.13 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.44. Eldorado Gold Corporation has a 52-week low of $13.29 and a 52-week high of $26.13.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

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.

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