Eldorado Gold Corporation $EGO Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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 holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,168 shares of the basic materials company's stock after buying an additional 23,597 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.10% of Eldorado Gold worth $3,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sprott Inc. grew its stake in Eldorado Gold by 20.8% during the 1st quarter. Sprott Inc. now owns 861,647 shares of the basic materials company's stock valued at $14,493,000 after purchasing an additional 148,216 shares during the last quarter. Candriam S.C.A. purchased a new stake in Eldorado Gold during the 1st quarter valued at about $27,281,000. Credit Agricole S A lifted its holdings in shares of 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 during the period. American Century Companies Inc. lifted its holdings in shares of 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 during the period. Finally, Fox Run Management L.L.C. lifted its holdings in shares of 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 during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EGO shares. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Canaccord Genuity Group dropped their price target 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. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Finally, National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Stock Performance

NYSE EGO traded up $0.75 on Friday, hitting $24.82. 1,327,886 shares of the company's stock were exchanged, compared to its average volume of 1,447,140. The firm's 50-day moving average price is $21.52 and its two-hundred day moving average price is $19.09. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.39 and a beta of 0.44. 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 Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $25.00.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The firm had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. On average, research analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold 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.