Ninety One UK Ltd reduced its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 73.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 647,145 shares of the basic materials company's stock after selling 1,771,551 shares during the quarter. Ninety One UK Ltd owned 0.31% of Eldorado Gold worth $10,885,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its stake in shares of Eldorado Gold by 2.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock valued at $179,942,000 after buying an additional 309,599 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Eldorado Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock worth $117,228,000 after purchasing an additional 136,594 shares during the last quarter. Carrhae Capital LLP grew its stake in shares of Eldorado Gold by 13.9% in the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock worth $89,826,000 after purchasing an additional 738,233 shares during the last quarter. Dimensional Fund Advisors LP grew 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 purchasing an additional 74,389 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its stake in shares of Eldorado Gold by 648.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock worth $39,408,000 after purchasing an additional 2,296,018 shares during the last quarter. 69.58% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Canaccord Genuity Group cut their price objective 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. Royal Bank Of Canada lifted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.50.
Read Our Latest Stock Analysis on EGO
Eldorado Gold Stock Up 2.7%
Shares of EGO traded up $0.53 during mid-day trading on Friday, reaching $20.47. The company had a trading volume of 1,382,420 shares, compared to its average volume of 1,693,484. The firm has a 50-day moving average price of $20.09 and a 200 day moving average price of $17.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 0.34 and a beta of 0.46. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $21.79.
Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. Eldorado Gold had a return on equity of 8.41% and a net margin of 23.10%. On average, sell-side analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.
About Eldorado Gold
(
Free Report)
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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