Versor Investments LP Lowers Stake in 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 trimmed its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 52.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of Eldorado Gold in the first quarter worth $374,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Eldorado Gold by 11.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,300 shares of the basic materials company's stock worth $4,242,000 after acquiring an additional 25,000 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of Eldorado Gold by 43.5% in the first 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. LPL Financial LLC raised its holdings in shares of Eldorado Gold by 645.2% in the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company's stock worth $2,821,000 after acquiring an additional 145,202 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Eldorado Gold in the fourth quarter worth $287,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Trading Down 0.0%

Eldorado Gold stock traded down $0.01 during trading on Wednesday, hitting $24.29. The company's stock had a trading volume of 1,019,719 shares, compared to its average volume of 1,663,465. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.39 and a beta of 0.37. The stock's fifty day moving average is $21.37 and its 200 day moving average is $18.89. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $24.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, July 31st. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $459.53 million during the quarter, compared to analyst estimates of $401.85 million. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. As a group, equities research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analysts Set New Price Targets

EGO has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price target on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Finally, Wall Street Zen lowered Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold 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.