Sprott Inc. Purchases 148,216 Shares of Eldorado Gold Corporation $EGO

Key Points

• Sprott Inc. increased its stake in Eldorado Gold Corporation by 20.8%, acquiring an additional 148,216 shares, bringing their total to 861,647 shares valued at approximately $14.5 million.
• Eldorado Gold reported $0.44 earnings per share for the latest quarter, missing estimates, but generated a revenue of $459.53 million, exceeding the consensus estimate.
• Institutional ownership of Eldorado Gold is high at 69.58%, with several large investors increasing their positions recently; analysts have mixed ratings with a consensus of Moderate Buy.

Sprott Inc. grew its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,647 shares of the basic materials company's stock after purchasing an additional 148,216 shares during the quarter. Sprott Inc. owned about 0.42% of Eldorado Gold worth $14,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Candriam S.C.A. acquired a new position in shares of Eldorado Gold in the 1st quarter valued at about $27,281,000. Credit Agricole S A increased its position in Eldorado Gold by 118.9% in the 1st quarter. Credit Agricole S A now owns 129,850 shares of the basic materials company's stock valued at $2,184,000 after buying an additional 70,518 shares in the last quarter. American Century Companies Inc. increased its position in Eldorado Gold by 2.0% in the 1st quarter. American Century Companies Inc. now owns 1,057,607 shares of the basic materials company's stock valued at $17,780,000 after buying an additional 20,232 shares in the last quarter. Fox Run Management L.L.C. increased its position in Eldorado Gold by 68.4% in the 1st quarter. Fox Run Management L.L.C. now owns 28,794 shares of the basic materials company's stock valued at $484,000 after buying an additional 11,697 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Eldorado Gold by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company's stock valued at $517,000 after buying an additional 1,580 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EGO has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their target price 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 reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Wall Street Zen lowered Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Scotiabank reissued 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 stock. According to MarketBeat, Eldorado Gold presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Stock Performance

Shares of NYSE:EGO traded up $0.96 during trading on Tuesday, hitting $24.29. 1,568,810 shares of the company were exchanged, compared to its average volume of 1,921,068. The company has a market cap of $4.94 billion, a PE ratio of 12.21, a P/E/G ratio of 0.37 and a beta of 0.37. The stock has a 50 day moving average of $21.24 and a 200 day moving average of $18.82. Eldorado Gold Corporation has a 52-week low of $13.29 and a 52-week high of $24.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65.

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 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 the consensus estimate of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. As a group, equities research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current 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.