Carrhae Capital LLP raised its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,689,304 shares of the basic materials company's stock after purchasing an additional 648,574 shares during the quarter. Eldorado Gold accounts for about 8.2% of Carrhae Capital LLP's investment portfolio, making the stock its 2nd largest position. Carrhae Capital LLP owned approximately 3.26% of Eldorado Gold worth $112,514,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of EGO. Continuum Advisory LLC boosted its position in Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 1,945 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after acquiring an additional 682 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after buying an additional 5,294 shares during the period. Tradition Wealth Management LLC purchased a new stake in Eldorado Gold in the 4th quarter worth approximately $153,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Eldorado Gold during the fourth quarter valued at $183,000. Hedge funds and other institutional investors own 69.58% of the company's stock.
Analysts Set New Price Targets
EGO has been the topic of a number of recent analyst reports. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Scotiabank raised their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Finally, Canaccord Genuity Group reduced their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.
Read Our Latest Research Report on EGO
Eldorado Gold Price Performance
Shares of EGO stock traded down $0.39 during midday trading on Friday, reaching $19.74. 1,060,546 shares of the company were exchanged, compared to its average volume of 1,690,469. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $21.79. The company has a market cap of $4.02 billion, a P/E ratio of 12.42, a PEG ratio of 0.34 and a beta of 0.46. The company's 50 day moving average price is $20.19 and its two-hundred day moving average price is $17.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12.
Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. The business had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. On average, sell-side analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.
Eldorado Gold Profile
(
Free Report)
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.
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