Encompass Capital Advisors LLC Invests $16.82 Million in Eldorado Gold Corporation $EGO

Key Points

• Encompass Capital Advisors LLC acquired approximately 999,702 shares of Eldorado Gold Corporation, valued at around $16.8 million, representing about 0.49% of the company's stock.
• Multiple institutional investors, including Candriam S.C.A. and ANTIPODES PARTNERS Ltd., have increased their stakes in Eldorado Gold, with overall institutional ownership now at 69.58%.
• Eldorado Gold's stock is rated as a Moderate Buy, with a target price of $23.60, and the company recently reported a revenue of $459.53 million, surpassing analysts' expectations.

Encompass Capital Advisors LLC acquired a new stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 999,702 shares of the basic materials company's stock, valued at approximately $16,815,000. Encompass Capital Advisors LLC owned 0.49% of Eldorado Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new stake in shares of Eldorado Gold during the 4th quarter valued at $183,000. The Manufacturers Life Insurance Company boosted its holdings in Eldorado Gold by 29.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 340,812 shares of the basic materials company's stock valued at $5,070,000 after acquiring an additional 76,701 shares during the period. AXA S.A. raised its position in Eldorado Gold by 243.2% during the 4th quarter. AXA S.A. now owns 247,921 shares of the basic materials company's stock valued at $3,687,000 after purchasing an additional 175,689 shares during the last quarter. BNP Paribas Financial Markets raised its position in Eldorado Gold by 231.7% during the 4th quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock valued at $8,192,000 after purchasing an additional 384,793 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Eldorado Gold by 17.6% during the 4th quarter. Deutsche Bank AG now owns 469,880 shares of the basic materials company's stock valued at $6,987,000 after purchasing an additional 70,478 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Price Performance

Eldorado Gold stock traded down $0.13 during midday trading on Tuesday, reaching $26.19. The company had a trading volume of 567,603 shares, compared to its average volume of 1,905,895. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The firm's fifty day simple moving average is $22.13 and its 200-day simple moving average is $19.57. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $26.75. The company has a market capitalization of $5.32 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.42 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The company had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. As a group, equities analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a research note on Monday, August 11th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Eldorado Gold currently 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.