Northwest & Ethical Investments L.P. Trims Stock Holdings in Eldorado Gold Corporation $EGO

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Eldorado Gold Corporation by 70.8% during the first quarter, ending up with 20,815 shares valued at approximately $350,000.
• Analysts maintain a generally positive outlook for Eldorado Gold, with a current average rating of "Moderate Buy" and a target price of $23.60.
• Eldorado Gold reported a missed earnings estimate for the last quarter, with an EPS of $0.44 against a consensus of $0.51, although their revenue of $459.53 million exceeded expectations.

Northwest & Ethical Investments L.P. reduced its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 70.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,815 shares of the basic materials company's stock after selling 50,402 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Eldorado Gold were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in Eldorado Gold during the first quarter valued at $374,000. Allspring Global Investments Holdings LLC raised its position in Eldorado Gold by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock valued at $4,242,000 after acquiring an additional 25,000 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in Eldorado Gold by 43.5% in the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after acquiring an additional 1,152,909 shares during the period. LPL Financial LLC boosted its position in Eldorado Gold by 645.2% in the 1st quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after purchasing an additional 145,202 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Eldorado Gold during the 4th quarter worth approximately $287,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded up $0.4160 during trading hours on Friday, reaching $23.4960. 1,190,186 shares of the company's stock were exchanged, compared to its average volume of 1,697,315. The business has a fifty day moving average of $21.20 and a two-hundred day moving average of $18.72. The company has a market capitalization of $4.77 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.37 and a beta of 0.37. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. Eldorado Gold Corporation has a 1 year low of $13.29 and a 1 year high of $23.74.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data 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 business had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. As a group, research analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Canaccord Genuity Group reduced their target price on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

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.