Helikon Investments Ltd Has $241.31 Million Stake in Eldorado Gold Corporation (NYSE:EGO)

Key Points

• Helikon Investments Ltd decreased its stake in Eldorado Gold Corporation by 13.7% during the first quarter, bringing its holdings to 14,346,371 shares valued at approximately $241.31 million.
• Eldorado Gold reported earnings per share of $0.44, missing analysts' forecast of $0.51, while revenue for the quarter reached $459.53 million, exceeding expectations.
• The company's stock price opened at $22.60 and has a market capitalization of $4.59 billion, with a consensus rating of "Moderate Buy" and an average target price of $23.60.

Helikon Investments Ltd trimmed its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 13.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,346,371 shares of the basic materials company's stock after selling 2,285,162 shares during the period. Eldorado Gold accounts for approximately 18.5% of Helikon Investments Ltd's holdings, making the stock its 2nd biggest position. Helikon Investments Ltd owned approximately 6.98% of Eldorado Gold worth $241,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its holdings in shares of Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after purchasing an additional 682 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eldorado Gold by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock valued at $2,664,000 after buying an additional 1,174 shares during the period. LaSalle St. Investment Advisors LLC grew its position in Eldorado Gold by 7.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock worth $329,000 after acquiring an additional 1,275 shares in the last quarter. Alliancebernstein L.P. grew its position 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 worth $496,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,945 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Trading Down 1.0%

Shares of NYSE EGO traded down $0.23 during mid-day trading on Monday, hitting $22.37. The company's stock had a trading volume of 1,224,927 shares, compared to its average volume of 1,885,231. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 0.36 and a beta of 0.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $23.58. The company's fifty day simple moving average is $20.92 and its 200-day simple moving average is $18.27.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $401.85 million. On average, sell-side analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on EGO shares. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a research report on Monday. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday. Canaccord Genuity Group dropped their price objective on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold 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.