Eldorado Gold Corporation (NYSE:EGO) Shares Bought by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. increased its stake in Eldorado Gold Corporation by 3.2%, now owning approximately 12.5 million shares, which makes it the fund's second largest holding.
• Several institutional investors, including LPL Financial and AllianceBernstein, have significantly boosted their positions in Eldorado Gold, leading to 69.58% of the company's stock being held by institutional investors.
• Despite higher revenue of $459.53 million, Eldorado Gold reported a quarterly earnings per share of $0.44, missing the expected consensus by $0.07.

Donald Smith & CO. Inc. increased its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,492,756 shares of the basic materials company's stock after purchasing an additional 391,776 shares during the quarter. Eldorado Gold accounts for 5.1% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 2nd biggest position. Donald Smith & CO. Inc. owned 6.08% of Eldorado Gold worth $210,128,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings in shares of 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 during the last quarter. TD Waterhouse Canada Inc. grew its position in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after buying an additional 682 shares during the period. SBI Securities Co. Ltd. grew its position in Eldorado Gold by 142.6% during the first 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 bought a new stake in Eldorado Gold during the fourth quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Eldorado Gold in the fourth quarter worth approximately $183,000. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EGO shares. Canaccord Genuity Group dropped their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank reaffirmed a "sector perform" rating on shares of Eldorado Gold in a research note on Monday. Finally, CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Trading Up 0.5%

EGO stock traded up $0.12 during mid-day trading on Tuesday, hitting $22.48. 814,351 shares of the company were exchanged, compared to its average volume of 1,865,912. 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 firm has a market capitalization of $4.57 billion, a P/E ratio of 11.30, a PEG ratio of 0.36 and a beta of 0.37. The business has a fifty day simple moving average of $20.95 and a 200-day simple moving average of $18.30. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $23.58.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its 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). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. The business had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. On average, equities research analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

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.