BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 23,597 Shares of Eldorado Gold Corporation $EGO

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Eldorado Gold Corporation by 13.4% in the first quarter, owning a total of 200,168 shares valued at approximately $3.36 million.
• Eldorado Gold reported an earnings per share (EPS) of $0.44 in its latest quarterly results, missing analysts' expectations of $0.51, although its revenue exceeded forecasts at $459.53 million.
• Several analysts have reiterated positive ratings for Eldorado Gold, with average price targets reflecting a potential moderate upside based on current evaluations.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,168 shares of the basic materials company's stock after purchasing an additional 23,597 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.10% of Eldorado Gold worth $3,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC lifted its position 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 worth $42,000 after purchasing an additional 1,945 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Eldorado Gold by 26.5% during 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. SBI Securities Co. Ltd. lifted its holdings in shares of Eldorado Gold by 142.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after acquiring an additional 5,294 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Eldorado Gold during the first quarter valued at $186,000. Finally, XTX Topco Ltd bought a new position in shares of Eldorado Gold during the first quarter valued at $207,000. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Trading Down 0.9%

Shares of Eldorado Gold stock traded down $0.21 during trading on Thursday, hitting $24.07. 1,230,521 shares of the company were exchanged, compared to its average volume of 1,626,707. The firm has a market capitalization of $4.89 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.39 and a beta of 0.37. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $24.34. The firm's fifty day moving average price is $21.43 and its 200 day moving average price is $18.96. 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 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 company 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, sell-side analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EGO has been the subject of a number of analyst reports. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Canaccord Genuity Group cut their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.