Ruffer LLP Buys Shares of 992,097 Eldorado Gold Corporation (NYSE:EGO)

Ruffer LLP 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 992,097 shares of the basic materials company's stock, valued at approximately $16,687,000. Ruffer LLP owned about 0.48% of Eldorado Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Eldorado Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock worth $117,228,000 after acquiring an additional 136,594 shares during the last quarter. Jennison Associates LLC increased its position in shares of Eldorado Gold by 2.2% in the first quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company's stock valued at $121,874,000 after buying an additional 155,619 shares in the last quarter. Carrhae Capital LLP boosted its stake in Eldorado Gold by 10.7% during the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after buying an additional 648,574 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Eldorado Gold by 1.5% during 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 period. Finally, ANTIPODES PARTNERS Ltd increased its stake 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 worth $63,970,000 after buying an additional 1,152,909 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EGO. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Canaccord Genuity Group lowered their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank increased their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold Price Performance

Shares of NYSE EGO traded down $0.27 during midday trading on Thursday, hitting $23.04. The company had a trading volume of 929,518 shares, compared to its average volume of 1,974,560. 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 Corporation has a twelve month low of $13.29 and a twelve month high of $23.58. The business has a 50-day simple moving average of $20.78 and a two-hundred day simple moving average of $18.07. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its 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 analyst estimates of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. Equities research analysts anticipate 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.