Heartland Advisors Inc. Boosts Stock Position in Eldorado Gold Corporation (NYSE:EGO)

Key Points

• Heartland Advisors Inc. has significantly increased its holdings in Eldorado Gold Corporation by 104.7%, owning 648,100 shares worth approximately $10.9 million after purchasing an additional 331,450 shares in the first quarter.
• Eldorado Gold's quarterly earnings report showed an EPS of $0.28, missing analysts' consensus estimates of $0.32, although it reported revenues of $341.59 million which surpassed estimates.
• Several institutional investors have increased their stakes in Eldorado Gold, contributing to a total institutional ownership of 69.58% of the company's stock.

Heartland Advisors Inc. increased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 104.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 648,100 shares of the basic materials company's stock after acquiring an additional 331,450 shares during the period. Heartland Advisors Inc. owned about 0.32% of Eldorado Gold worth $10,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Eldorado Gold during the 4th quarter valued at $1,249,000. HighTower Advisors LLC bought a new stake in Eldorado Gold during the 4th quarter valued at $461,000. Sei Investments Co. bought a new stake in Eldorado Gold during the 4th quarter valued at $1,088,000. Fox Run Management L.L.C. bought a new position in shares of Eldorado Gold in the 4th quarter worth $254,000. Finally, LPL Financial LLC raised its position in shares of Eldorado Gold by 100.6% in the 4th quarter. LPL Financial LLC now owns 22,506 shares of the basic materials company's stock worth $335,000 after acquiring an additional 11,285 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Down 0.2%

EGO stock traded down $0.04 on Wednesday, hitting $20.97. 618,579 shares of the company's stock were exchanged, compared to its average volume of 1,948,140. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $21.79. The firm has a 50 day moving average price of $20.56 and a two-hundred day moving average price of $17.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12. The stock has a market cap of $4.27 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.34 and a beta of 0.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced 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). The business had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. As a group, equities research analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Scotiabank boosted their price target on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Three equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Company 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.