Eldorado Gold Corporation (NYSE:EGO) is Carrhae Capital LLP's 2nd Largest Position

Carrhae Capital LLP increased its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,689,304 shares of the basic materials company's stock after buying an additional 648,574 shares during the period. Eldorado Gold comprises about 8.2% of Carrhae Capital LLP's portfolio, making the stock its 2nd biggest position. Carrhae Capital LLP owned 3.26% of Eldorado Gold worth $112,514,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in shares of Eldorado Gold during the first quarter worth approximately $374,000. Allspring Global Investments Holdings LLC increased its stake in Eldorado Gold by 11.0% in 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 purchasing an additional 25,000 shares during the last quarter. Swiss National Bank increased its stake in Eldorado Gold by 0.6% in the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company's stock valued at $6,000,000 after purchasing an additional 2,500 shares during the last quarter. Alliancebernstein L.P. increased its stake in Eldorado Gold by 4.7% in the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock valued at $496,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Eldorado Gold in the fourth quarter valued at approximately $287,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

Shares of NYSE EGO traded down $0.20 during mid-day trading on Thursday, hitting $20.15. 1,036,119 shares of the company were exchanged, compared to its average volume of 1,687,949. The company has a quick ratio of 2.53, a current ratio of 3.12 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $20.18 and a 200-day simple moving average of $17.52. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $21.79. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.35 and a beta of 0.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. On average, sell-side analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank increased their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday. Canaccord Genuity Group lowered their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.