U S Global Investors Inc. Purchases New Stake in Eldorado Gold Corporation $EGO

Key Points

• U S Global Investors bought a new Q4 stake of 50,000 shares (~$1.80M) in Eldorado Gold, while other institutions (notably Ruffer LLP and TT International) also raised positions, leaving institutional investors with about 69.58% ownership.
• Eldorado opened at $31.65 (market cap ~$6.29B, P/E 12.76) and reported Q4 EPS of $0.63 (missed by $0.01) with revenue of $575.1M beating estimates; analysts' consensus is a "Hold" with a $42 target price.

U S Global Investors Inc. acquired a new position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the basic materials company's stock, valued at approximately $1,796,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ruffer LLP grew its stake in shares of Eldorado Gold by 14.1% during the 4th quarter. Ruffer LLP now owns 1,611,656 shares of the basic materials company's stock worth $57,981,000 after purchasing an additional 198,916 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Eldorado Gold by 3.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,249 shares of the basic materials company's stock worth $2,132,000 after buying an additional 1,903 shares in the last quarter. Merit Financial Group LLC acquired a new position in Eldorado Gold during the fourth quarter worth about $236,000. Burney Co. acquired a new position in Eldorado Gold during the fourth quarter worth about $2,506,000. Finally, TT International Asset Management LTD increased its holdings in Eldorado Gold by 1,730.9% in the fourth quarter. TT International Asset Management LTD now owns 751,327 shares of the basic materials company's stock valued at $26,916,000 after buying an additional 710,290 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Stock Down 0.1%

Shares of NYSE EGO opened at $31.65 on Friday. The stock has a market capitalization of $6.29 billion, a PE ratio of 12.76, a P/E/G ratio of 0.14 and a beta of 0.66. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $38.21 and a 200-day moving average of $35.39. Eldorado Gold Corporation has a 52-week low of $17.18 and a 52-week high of $51.16.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). The firm had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. On average, analysts anticipate that Eldorado Gold Corporation will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research cut Eldorado Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. TD Cowen reduced their price objective on Eldorado Gold from $45.00 to $40.00 and set a "hold" rating for the company in a report on Tuesday, April 14th. BMO Capital Markets reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Canaccord Genuity Group downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, February 20th. Finally, TD Securities lowered their price objective on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.00.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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