Montrusco Bolton Investments Inc. Invests $18.92 Million in Eldorado Gold Co. (NYSE:EGO)

Montrusco Bolton Investments Inc. bought a new position in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,450,126 shares of the basic materials company's stock, valued at approximately $18,916,000. Montrusco Bolton Investments Inc. owned about 0.71% of Eldorado Gold as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in Eldorado Gold in the fourth quarter worth $35,000. Tobam purchased a new stake in Eldorado Gold during the fourth quarter worth about $68,000. Atria Wealth Solutions Inc. bought a new stake in Eldorado Gold in the third quarter worth about $89,000. Bank of Nova Scotia boosted its stake in Eldorado Gold by 10.2% in the third quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company's stock valued at $130,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in Eldorado Gold by 8.2% in the third quarter. Shell Asset Management Co. now owns 15,900 shares of the basic materials company's stock valued at $143,000 after acquiring an additional 1,200 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Up 5.9 %

Shares of EGO traded up $0.90 during mid-day trading on Friday, reaching $16.19. The company had a trading volume of 1,681,382 shares, compared to its average volume of 1,391,441. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 4.59 and a beta of 1.12. The firm has a 50-day moving average price of $14.43 and a 200 day moving average price of $12.84. Eldorado Gold Co. has a 52 week low of $8.30 and a 52 week high of $16.20.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The firm had revenue of $257.97 million during the quarter. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, sell-side analysts forecast that Eldorado Gold Co. will post 0.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Monday, May 13th. TD Securities decreased their price objective on Eldorado Gold from $14.50 to $13.00 and set a "hold" rating for the company in a report on Monday, February 26th. Stifel Canada downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Friday, January 26th. CIBC lifted their target price on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Finally, National Bank Financial restated an "outperform spec overweight" rating on shares of Eldorado Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.30.

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.