Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Decreases Stock Holdings in Eldorado Gold Corporation (NYSE:EGO)

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. sold 18,100 shares of Eldorado Gold Corporation, reducing its stake by 53.4% in the first quarter and now holds 15,800 shares valued at $266,000.
• A variety of institutional investors have increased their stakes in Eldorado Gold, with ANTIPODES PARTNERS Ltd notably boosting its holdings by 43.5% during the same period.
• Wall Street analysts have mixed views on Eldorado Gold's stock, with ratings ranging from "buy" to "hold," and a consensus target price of $23.60.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lowered its stake in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 53.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,800 shares of the basic materials company's stock after selling 18,100 shares during the quarter. Eldorado Gold accounts for approximately 1.1% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s portfolio, making the stock its 15th largest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Eldorado Gold were worth $266,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd boosted 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 worth $63,970,000 after acquiring an additional 1,152,909 shares during the last quarter. Carrhae Capital LLP boosted its position in shares of Eldorado Gold by 10.7% in the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock valued at $112,514,000 after acquiring an additional 648,574 shares during the period. Wellington Management Group LLP purchased a new stake in Eldorado Gold in the fourth quarter valued at approximately $6,973,000. BNP Paribas Financial Markets raised its stake in Eldorado Gold by 231.7% in the fourth quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock valued at $8,192,000 after purchasing an additional 384,793 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in Eldorado Gold by 104.7% in the first quarter. Heartland Advisors Inc. now owns 648,100 shares of the basic materials company's stock valued at $10,901,000 after purchasing an additional 331,450 shares in the last quarter. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Stock Up 6.0%

Shares of EGO stock traded up $1.29 during mid-day trading on Tuesday, reaching $22.97. 1,179,778 shares of the company's stock traded hands, compared to its average volume of 1,963,204. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $22.78. The company has a market cap of $4.67 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.35 and a beta of 0.37. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The company's 50-day moving average price is $20.65 and its 200-day moving average price is $18.00.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced 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 firm had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. On average, equities analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EGO has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Scotiabank raised their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

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.