HighTower Advisors LLC Has $898,000 Position in Eldorado Gold Corporation $EGO

Key Points

• HighTower Advisors LLC increased its stake in Eldorado Gold Corporation by 72.3%, acquiring an additional 22,413 shares, bringing its total holdings to 53,400 shares valued at approximately $898,000.
• Several other institutional investors have also boosted their positions in Eldorado Gold, with the company now 69.58% owned by institutional investors.
• Eldorado Gold recently missed earnings estimates, reporting $0.44 EPS against expectations of $0.51, while revenue surpassed forecasts at $459.53 million.

HighTower Advisors LLC grew its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 72.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,400 shares of the basic materials company's stock after purchasing an additional 22,413 shares during the period. HighTower Advisors LLC's holdings in Eldorado Gold were worth $898,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings 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 purchasing an additional 1,945 shares during the period. SBI Securities Co. Ltd. raised its holdings in Eldorado Gold by 142.6% in the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock worth $151,000 after purchasing an additional 5,294 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Eldorado Gold in the fourth quarter worth $183,000. Y Intercept Hong Kong Ltd acquired a new stake in Eldorado Gold in the first quarter worth $186,000. Finally, XTX Topco Ltd acquired a new stake in Eldorado Gold in the first quarter worth $207,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 3.1%

EGO stock traded up $0.75 during midday trading on Monday, hitting $24.82. The company's stock had a trading volume of 1,327,886 shares, compared to its average volume of 1,447,140. 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 twelve month low of $13.29 and a twelve month high of $25.00. The company's fifty day moving average price is $21.52 and its 200 day moving average price is $19.09. The stock has a market capitalization of $5.04 billion, a P/E ratio of 12.47, a PEG ratio of 0.39 and a beta of 0.44.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EGO shares. CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Canaccord Genuity Group dropped their price objective on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently 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.