Wellington Management Group LLP Buys New Holdings in Eldorado Gold Co. (NYSE:EGO)

Wellington Management Group LLP bought a new stake in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 469,062 shares of the basic materials company's stock, valued at approximately $6,973,000. Wellington Management Group LLP owned about 0.23% of Eldorado Gold as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EGO. Jennison Associates LLC raised its stake in shares of Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock valued at $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Eldorado Gold during the fourth quarter valued at about $55,000. Barclays PLC raised its stake in shares of Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company's stock valued at $3,064,000 after purchasing an additional 27,667 shares in the last quarter. Swiss National Bank raised its stake in shares of Eldorado Gold by 0.6% during the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company's stock valued at $6,000,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock valued at $496,000 after purchasing an additional 1,500 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EGO. Royal Bank of Canada lifted their target price on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Finally, Canaccord Genuity Group lowered their target price on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.70.

Eldorado Gold Stock Down 1.7%

Shares of NYSE EGO traded down $0.36 during trading hours on Friday, hitting $21.15. The stock had a trading volume of 2,204,848 shares, compared to its average volume of 1,658,063. The company has a market capitalization of $4.35 billion, a P/E ratio of 15.11 and a beta of 0.47. The firm's 50-day moving average price is $18.97 and its two-hundred day moving average price is $16.55. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $21.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $341.59 million during the quarter, compared to the consensus estimate of $319.83 million. Analysts anticipate that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

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.