Vanguard Group Inc. Acquires 148,567 Shares of Eldorado Gold Corporation $EGO

Key Points

• Vanguard Group Inc. increased its stake in Eldorado Gold Corporation by 1.9% in Q1, now owning approximately 3.91% of the company valued at $134.98 million.
• Eldorado Gold's stock rose 2.2%, closing at $23.08, with analysts forecasting an EPS of 1.5 for the current fiscal year.
• Recent analyst reports have resulted in downgraded ratings for Eldorado Gold, with Wall Street Zen changing its stance from "buy" to "hold."

Vanguard Group Inc. boosted its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 1.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,029,969 shares of the basic materials company's stock after acquiring an additional 148,567 shares during the quarter. Vanguard Group Inc. owned 3.91% of Eldorado Gold worth $134,984,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in Eldorado Gold by 2.2% in the 1st quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company's stock valued at $121,874,000 after acquiring an additional 155,619 shares in the last quarter. Carrhae Capital LLP lifted its position in Eldorado Gold by 10.7% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Eldorado Gold by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company's stock valued at $73,927,000 after acquiring an additional 74,389 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in Eldorado Gold by 43.5% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock valued at $63,970,000 after acquiring an additional 1,152,909 shares in the last quarter. Finally, Ruffer LLP bought a new position in Eldorado Gold in the 1st quarter valued at about $16,687,000. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Stock Performance

Shares of NYSE:EGO traded down $0.01 during mid-day trading on Wednesday, reaching $24.29. The company had a trading volume of 1,019,719 shares, compared to its average volume of 1,663,465. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.39 and a beta of 0.37. The company's 50-day moving average price is $21.37 and its 200-day moving average price is $18.89. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $24.33.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results 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). The company 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%. As a group, equities research analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EGO shares. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Canaccord Genuity Group dropped 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 report on Monday, May 5th. Finally, Wall Street Zen cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Eldorado Gold presently has a consensus rating of "Moderate Buy" and an average target price 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.