Eldorado Gold Corporation $EGO Shares Acquired by Equinox Partners Investment Management LLC

Key Points

• Equinox Partners Investment Management LLC increased its stake in Eldorado Gold Corporation by 17.4%, now owning approximately 1,114,810 shares, which is about 10.7% of its portfolio.
• Eldorado Gold reported earnings of $0.44 per share for the last quarter, falling short of analyst estimates of $0.51, but achieving revenues of $459.53 million, surpassing expectations.
• 69.58% of Eldorado Gold's stock is currently held by institutional investors and hedge funds, indicating significant institutional interest in the company.

Equinox Partners Investment Management LLC lifted its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,114,810 shares of the basic materials company's stock after acquiring an additional 165,000 shares during the period. Eldorado Gold accounts for approximately 10.7% of Equinox Partners Investment Management LLC's portfolio, making the stock its 3rd biggest position. Equinox Partners Investment Management LLC owned about 0.54% of Eldorado Gold worth $18,751,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Amundi raised its holdings in shares of Eldorado Gold by 17.7% during the 1st quarter. Amundi now owns 1,289,210 shares of the basic materials company's stock worth $22,806,000 after acquiring an additional 193,586 shares during the period. Maverick Capital Ltd. raised its holdings in Eldorado Gold by 121.3% in the 1st quarter. Maverick Capital Ltd. now owns 47,294 shares of the basic materials company's stock valued at $795,000 after buying an additional 25,923 shares during the period. L1 Capital Pty Ltd raised its holdings in Eldorado Gold by 22.7% in the 1st quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock valued at $147,580,000 after buying an additional 1,621,173 shares during the period. Trexquant Investment LP raised its holdings in Eldorado Gold by 21.6% in the 1st quarter. Trexquant Investment LP now owns 331,354 shares of the basic materials company's stock valued at $5,573,000 after buying an additional 58,760 shares during the period. Finally, Harvest Portfolios Group Inc. raised its holdings in Eldorado Gold by 33.6% in the 1st quarter. Harvest Portfolios Group Inc. now owns 38,686 shares of the basic materials company's stock valued at $650,000 after buying an additional 9,737 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Stock Up 0.8%

EGO traded up $0.22 on Monday, reaching $26.34. The company's stock had a trading volume of 2,154,539 shares, compared to its average volume of 1,913,969. The stock has a 50 day moving average of $22.01 and a two-hundred day moving average of $19.48. 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 company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.42 and a beta of 0.44. Eldorado Gold Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $26.61.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The business had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. As a group, analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal 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.