Ruffer LLP Purchases 101,456 Shares of Eldorado Gold Corporation $EGO

Key Points

• Ruffer LLP has increased its stake in Eldorado Gold Corporation by 10.2%, purchasing an additional 101,456 shares, which brings its total holdings to 1,093,553 shares.
• Institutional investors collectively own 69.58% of Eldorado Gold's stock, with several firms like Continuum Advisory LLC and SBI Securities significantly increasing their positions in the first quarter.
• Analysts have raised Eldorado Gold's rating to "buy", with a current consensus rating of "Moderate Buy" and an average price target of $23.60.

Ruffer LLP grew its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,093,553 shares of the basic materials company's stock after purchasing an additional 101,456 shares during the quarter. Eldorado Gold comprises about 1.0% of Ruffer LLP's portfolio, making the stock its 27th biggest holding. Ruffer LLP owned about 0.53% of Eldorado Gold worth $22,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Continuum Advisory LLC increased its position in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,945 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Eldorado Gold by 142.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock worth $151,000 after purchasing an additional 5,294 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Eldorado Gold during the 1st quarter worth approximately $186,000. XTX Topco Ltd acquired a new position in shares of Eldorado Gold during the 1st quarter worth approximately $207,000. Finally, Alps Advisors Inc. acquired a new position in shares of Eldorado Gold during the 1st quarter worth approximately $250,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EGO shares. Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Finally, Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $28.08 on Thursday. 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 stock's fifty day moving average price is $23.86 and its two-hundred day moving average price is $20.61. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $29.24. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.45 and a beta of 0.44.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The firm had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. On average, equities analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold 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.

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