Jennison Associates LLC Purchases 1,058,137 Shares of Eldorado Gold Co. (NYSE:EGO)

Jennison Associates LLC increased its position in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,090,185 shares of the basic materials company's stock after acquiring an additional 1,058,137 shares during the quarter. Jennison Associates LLC owned 3.46% of Eldorado Gold worth $105,431,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Perpetual Ltd purchased a new position in Eldorado Gold during the 4th quarter valued at about $425,000. JPMorgan Chase & Co. increased its stake in Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company's stock valued at $2,607,000 after buying an additional 85,053 shares during the period. Tidal Investments LLC lifted its position in Eldorado Gold by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock worth $15,783,000 after buying an additional 15,652 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Eldorado Gold by 331.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company's stock valued at $2,295,000 after acquiring an additional 106,438 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Eldorado Gold by 84.9% in the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company's stock valued at $322,000 after purchasing an additional 8,512 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Stock Performance

EGO stock traded down $0.10 during midday trading on Friday, hitting $13.92. 2,278,773 shares of the company traded hands, compared to its average volume of 1,768,551. Eldorado Gold Co. has a twelve month low of $9.72 and a twelve month high of $19.06. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.38 and a beta of 0.93. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The business has a 50 day simple moving average of $15.41 and a 200-day simple moving average of $16.42.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EGO. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday. TD Securities cut their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Finally, Scotiabank dropped their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

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.