Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,775,900 shares of the basic materials company's stock after selling 202,200 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.87% of Eldorado Gold worth $30,867,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in shares of Eldorado Gold during the third quarter worth $32,000. Blue Trust Inc. lifted its holdings in Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company's stock worth $33,000 after buying an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Eldorado Gold in the 3rd quarter valued at about $36,000. Tobam boosted its position in Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company's stock valued at $74,000 after buying an additional 651 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold during the second quarter valued at about $74,000. Hedge funds and other institutional investors own 69.58% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on EGO shares. TD Securities reduced their price target on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a report on Monday, November 4th. StockNews.com cut Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Finally, Scotiabank increased their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a research note on Monday, August 19th. 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 has an average rating of "Hold" and a consensus price target of $20.88.
Get Our Latest Research Report on EGO
Eldorado Gold Stock Performance
Shares of NYSE EGO traded up $0.06 during midday trading on Thursday, hitting $16.24. The company's stock had a trading volume of 41,139 shares, compared to its average volume of 1,528,598. The firm has a market cap of $3.33 billion, a P/E ratio of 12.07 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. The firm's fifty day moving average price is $17.20 and its 200-day moving average price is $16.46. 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 released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter in the prior year, the company posted $0.17 EPS. On average, sell-side analysts forecast that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.
About Eldorado Gold
(
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.
Read More
Before you consider Eldorado Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eldorado Gold wasn't on the list.
While Eldorado Gold currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
