Mackenzie Financial Corp Decreases Stake in Eldorado Gold Corporation (NYSE:EGO)

Mackenzie Financial Corp lessened its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 33.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 494,363 shares of the basic materials company's stock after selling 252,887 shares during the quarter. Mackenzie Financial Corp owned approximately 0.24% of Eldorado Gold worth $8,310,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in Eldorado Gold in the 1st quarter worth about $374,000. Allspring Global Investments Holdings LLC increased its holdings in Eldorado Gold by 11.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after purchasing an additional 25,000 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in 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 purchasing an additional 1,152,909 shares in the last quarter. Alliancebernstein L.P. increased its holdings 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 purchasing an additional 1,500 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Eldorado Gold during the fourth quarter valued at approximately $287,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EGO. CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Canaccord Genuity Group cut their target price 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. Scotiabank lifted their target price on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Stock Up 3.2%

Shares of Eldorado Gold stock traded up $0.66 on Monday, reaching $21.66. The company's stock had a trading volume of 430,336 shares, compared to its average volume of 1,961,026. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.35 and a beta of 0.37. The firm's fifty day simple moving average is $20.61 and its two-hundred day simple moving average is $17.95. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $21.86. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released 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). The company had revenue of $459.53 million for the quarter, compared to analysts' expectations of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. Equities analysts anticipate that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

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.