Mudita Advisors LLP Buys 184,000 Shares of Eldorado Gold Corporation $EGO

Key Points

• Mudita Advisors LLP increased its stake in Eldorado Gold Corporation by 54.9%, acquiring an additional 184,000 shares, bringing its total ownership to 519,400 shares valued at approximately $8.7 million.
• Institutional investors own 69.58% of Eldorado Gold's stock, with significant increases from firms like Candriam S.C.A. and L1 Capital Pty Ltd during the first quarter.
• Despite a reported $0.44 earnings per share, which missed estimates by $0.07, Eldorado Gold's revenue for the quarter was $459.53 million, exceeding analyst predictions.

Mudita Advisors LLP raised its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 54.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 519,400 shares of the basic materials company's stock after buying an additional 184,000 shares during the quarter. Eldorado Gold accounts for 4.4% of Mudita Advisors LLP's investment portfolio, making the stock its 10th largest holding. Mudita Advisors LLP owned about 0.25% of Eldorado Gold worth $8,736,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Candriam S.C.A. acquired a new position in shares of Eldorado Gold during the first quarter worth approximately $27,281,000. L1 Capital Pty Ltd grew its stake in Eldorado Gold by 22.7% in the 1st quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company's stock valued at $147,580,000 after purchasing an additional 1,621,173 shares during the period. Invenomic Capital Management LP lifted its position in shares of Eldorado Gold by 127.2% during the 1st quarter. Invenomic Capital Management LP now owns 2,262,181 shares of the basic materials company's stock valued at $38,050,000 after buying an additional 1,266,329 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of Eldorado Gold by 43.5% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after buying an additional 1,152,909 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Eldorado Gold during the 1st quarter worth about $16,815,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGO has been the topic of several recent analyst reports. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Stock Down 0.4%

Eldorado Gold stock opened at $26.21 on Wednesday. The company has a market cap of $5.33 billion, a PE ratio of 13.17, a PEG ratio of 0.42 and a beta of 0.44. The business's 50-day simple moving average is $22.25 and its two-hundred day simple moving average is $19.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23. Eldorado Gold Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $26.75.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released 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). The business had revenue of $459.53 million during 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%. Equities analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current year.

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.

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