Versor Investments LP Sells 16,496 Shares of Eldorado Gold Corporation $EGO

Key Points

• Versor Investments LP has reduced its stake in Eldorado Gold Corporation by 52%, selling 16,496 shares and holding 15,218 shares valued at approximately $256,000.
• Several institutional investors increased their stakes in Eldorado Gold, with Continuum Advisory LLC growing its position by 335.3% during the first quarter.
• Eldorado Gold reported a net margin of 26.07% and a return on equity of 8.79%, with a revenue of $459.53 million during its latest quarterly earnings, falling short of the analyst's estimates.

Versor Investments LP lowered its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 52.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,218 shares of the basic materials company's stock after selling 16,496 shares during the quarter. Versor Investments LP's holdings in Eldorado Gold were worth $256,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its position in Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after buying an additional 1,945 shares during the period. TD Waterhouse Canada Inc. grew its position in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after buying an additional 682 shares during the period. SBI Securities Co. Ltd. grew its position in Eldorado Gold by 142.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after buying an additional 5,294 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Eldorado Gold during the first quarter valued at about $186,000. Finally, XTX Topco Ltd bought a new position in Eldorado Gold during the first quarter valued at about $207,000. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Price Performance

EGO stock opened at $23.0770 on Friday. The firm has a 50 day moving average of $21.16 and a 200-day moving average of $18.64. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $23.58. The firm has a market capitalization of $4.69 billion, a P/E 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 released 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 the consensus estimate of $401.85 million. As a group, sell-side analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGO. Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, May 5th. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Eldorado Gold in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Eldorado Gold presently has an average 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.

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