Freedom Investment Management Inc. acquired a new position in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,926 shares of the basic materials company's stock, valued at approximately $555,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in Eldorado Gold by 130.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company's stock valued at $890,000 after buying an additional 35,820 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Eldorado Gold during the 2nd quarter worth approximately $2,238,000. Navellier & Associates Inc. acquired a new stake in shares of Eldorado Gold in the third quarter valued at approximately $878,000. Maverick Capital Ltd. bought a new stake in shares of Eldorado Gold in the second quarter worth $1,256,000. Finally, Equinox Partners Investment Management LLC boosted its holdings in Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company's stock worth $17,185,000 after purchasing an additional 239,800 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have issued reports on EGO. StockNews.com lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Scotiabank lifted their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a research report on Monday, August 19th. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, TD Securities decreased their price target on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Eldorado Gold currently has an average rating of "Hold" and an average target price of $20.88.
Get Our Latest Stock Report on EGO
Eldorado Gold Stock Performance
Shares of Eldorado Gold stock traded up $0.12 during trading on Friday, hitting $16.00. 376,706 shares of the stock were exchanged, compared to its average volume of 1,515,529. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $16.99 and a 200-day moving average price of $16.50. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.94 and a beta of 0.95. Eldorado Gold Co. has a 1-year low of $9.72 and a 1-year high of $19.06.
Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The firm had revenue of $331.76 million for the quarter. During the same period last year, the firm earned $0.17 EPS. As a group, equities analysts predict that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.
Eldorado Gold Profile
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Free Report)
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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