Equinox Partners Investment Management LLC Buys 165,000 Shares of Eldorado Gold Corporation $EGO

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 grew its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,114,810 shares of the basic materials company's stock after purchasing an additional 165,000 shares during the quarter. Eldorado Gold makes up approximately 10.7% of Equinox Partners Investment Management LLC's holdings, making the stock its 3rd biggest holding. Equinox Partners Investment Management LLC owned about 0.54% of Eldorado Gold worth $18,751,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new stake in Eldorado Gold during the 1st quarter valued at approximately $374,000. Allspring Global Investments Holdings LLC increased its holdings in Eldorado Gold by 11.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after acquiring an additional 25,000 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in Eldorado Gold by 43.5% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after buying an additional 1,152,909 shares in the last quarter. LPL Financial LLC boosted its position in shares of Eldorado Gold by 645.2% during the 1st quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock valued at $2,821,000 after acquiring an additional 145,202 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Eldorado Gold by 2.5% in the 1st quarter. TD Asset Management Inc now owns 578,577 shares of the basic materials company's stock worth $9,724,000 after purchasing an additional 14,180 shares during the period. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Stock Down 0.5%

Shares of EGO stock traded down $0.14 on Tuesday, hitting $26.18. The stock had a trading volume of 567,603 shares, compared to its average volume of 1,905,895. The business has a 50 day moving average of $22.13 and a 200 day moving average of $19.57. 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 12-month low of $13.29 and a 12-month high of $26.75. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.42 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data 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). The business had revenue of $459.53 million for 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, analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EGO. CIBC restated 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 research report on Saturday, August 9th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Finally, Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. 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 company. According to MarketBeat, the stock has an average 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.