LPL Financial LLC Raises Holdings in Eldorado Gold Corporation $EGO

Key Points

• LPL Financial LLC increased its stake in Eldorado Gold Corporation by 645.2%, acquiring a total of 167,708 shares valued at approximately $2.82 million.
• Several hedge funds also expanded their positions in Eldorado Gold, with ANTIPODES PARTNERS Ltd boosting its stake by 43.5% during the first quarter.
• Eldorado Gold reported a quarterly EPS of $0.44, falling short of analysts' expectations of $0.51, despite generating revenue of $459.53 million for the quarter.

LPL Financial LLC lifted its stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 645.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,708 shares of the basic materials company's stock after buying an additional 145,202 shares during the quarter. LPL Financial LLC owned approximately 0.08% of Eldorado Gold worth $2,821,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in shares of Eldorado Gold by 2.2% in the first quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company's stock worth $121,874,000 after buying an additional 155,619 shares during the last quarter. Carrhae Capital LLP boosted its stake in shares of Eldorado Gold by 10.7% in the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after buying an additional 648,574 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Eldorado Gold by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company's stock worth $73,927,000 after buying an additional 74,389 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Eldorado Gold by 43.5% in the first quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock worth $63,970,000 after buying an additional 1,152,909 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Eldorado Gold by 44.9% in the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company's stock worth $11,102,000 after buying an additional 231,515 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock opened at $22.81 on Monday. The business has a 50 day simple moving average of $21.03 and a two-hundred day simple moving average of $18.48. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $23.58. The stock has a market capitalization of $4.63 billion, a P/E ratio of 11.46, a PEG 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 (NYSE:EGO - Get Free Report) TSE: ELD last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS 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 firm had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. As a group, analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on EGO shares. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Canaccord Genuity Group lowered their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Wall Street Zen downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.

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