Nuveen LLC Takes Position in Eldorado Gold Corporation $EGO

Key Points

• Nuveen LLC has acquired approximately $2.94 million in shares of Eldorado Gold Corporation, purchasing 174,697 shares in the first quarter, representing about 0.09% of the company's stock.
• Eldorado Gold's recent earnings report revealed an EPS of $0.44, which fell short of the consensus estimate of $0.51, despite revenues of $459.53 million surpassing analyst expectations.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a price target of $23.60, reflecting varied opinions on the company's future performance.

Nuveen LLC bought a new position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 174,697 shares of the basic materials company's stock, valued at approximately $2,936,000. Nuveen LLC owned about 0.09% of Eldorado Gold as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Donald Smith & CO. Inc. grew its stake in shares of Eldorado Gold by 3.2% in the first quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company's stock worth $210,128,000 after acquiring an additional 391,776 shares during the period. Aigen Investment Management LP bought a new stake in shares of Eldorado Gold in the first quarter worth approximately $458,000. Invesco Ltd. grew its stake in shares of Eldorado Gold by 17.9% in the first quarter. Invesco Ltd. now owns 2,347,487 shares of the basic materials company's stock worth $39,485,000 after acquiring an additional 355,962 shares during the period. LaSalle St. Investment Advisors LLC grew its stake in shares of Eldorado Gold by 7.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock worth $329,000 after acquiring an additional 1,275 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Eldorado Gold by 85.2% in the first quarter. Deutsche Bank AG now owns 870,357 shares of the basic materials company's stock worth $14,639,000 after acquiring an additional 400,477 shares during the period. 69.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EGO has been the subject of several recent research reports. Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC restated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank restated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. National Bankshares restated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Finally, Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. One equities 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 stock. According to MarketBeat, Eldorado Gold presently has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Price Performance

Shares of EGO stock traded up $0.58 during mid-day trading on Tuesday, hitting $25.36. The company had a trading volume of 1,398,361 shares, compared to its average volume of 1,904,767. Eldorado Gold Corporation has a 52-week low of $13.29 and a 52-week high of $25.55. The stock's 50 day moving average price is $21.59 and its 200-day moving average price is $19.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The company has a market capitalization of $5.15 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.39 and a beta of 0.44.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The business 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 research analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share 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.