Eldorado Gold Corporation $EGO Holdings Boosted by Mudita Advisors LLP

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 increased its holdings in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 54.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,400 shares of the basic materials company's stock after purchasing an additional 184,000 shares during the quarter. Eldorado Gold makes up 4.4% of Mudita Advisors LLP's portfolio, making the stock its 10th biggest holding. Mudita Advisors LLP owned approximately 0.25% of Eldorado Gold worth $8,736,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new position in Eldorado Gold during the 1st quarter valued at approximately $374,000. Allspring Global Investments Holdings LLC grew its holdings in Eldorado Gold by 11.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock valued at $4,242,000 after buying an additional 25,000 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in 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 in the last quarter. LPL Financial LLC grew its holdings in Eldorado Gold by 645.2% during the 1st quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock valued at $2,821,000 after buying an additional 145,202 shares in the last quarter. Finally, Amundi grew its holdings in Eldorado Gold by 17.7% during the 1st quarter. Amundi now owns 1,289,210 shares of the basic materials company's stock valued at $22,806,000 after buying an additional 193,586 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded up $0.30 during mid-day trading on Monday, reaching $28.36. 950,098 shares of the stock traded hands, compared to its average volume of 1,901,669. The business has a 50-day moving average of $22.65 and a 200 day moving average of $19.93. Eldorado Gold Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $28.66. The stock has a market capitalization of $5.76 billion, a PE ratio of 14.26, a PEG ratio of 0.45 and a beta of 0.44. 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 posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The company had revenue of $459.53 million during 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%. On average, analysts predict that Eldorado Gold Corporation will post 1.5 EPS 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.