Jennison Associates LLC Purchases 2,376,241 Shares of Eldorado Gold Co. (NYSE:EGO)

Jennison Associates LLC grew its stake in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 65.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,032,048 shares of the basic materials company's stock after acquiring an additional 2,376,241 shares during the period. Jennison Associates LLC owned 2.94% of Eldorado Gold worth $104,777,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EGO. Tidal Investments LLC bought a new stake in Eldorado Gold during the 1st quarter worth approximately $11,431,000. Commonwealth Equity Services LLC bought a new position in shares of Eldorado Gold in the second quarter worth $6,992,000. Jessup Wealth Management Inc bought a new position in shares of Eldorado Gold in the second quarter worth $6,910,000. Invenomic Capital Management LP raised its position in shares of Eldorado Gold by 28.1% in the first quarter. Invenomic Capital Management LP now owns 1,738,044 shares of the basic materials company's stock worth $24,454,000 after buying an additional 380,982 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Eldorado Gold by 230.6% during the second quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company's stock valued at $2,788,000 after buying an additional 332,913 shares during the period. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Up 1.1 %

Shares of NYSE EGO opened at $16.36 on Thursday. The stock has a market capitalization of $3.35 billion, a P/E ratio of 12.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold Co. has a one year low of $9.72 and a one year high of $19.06. The firm's 50 day simple moving average is $17.20 and its two-hundred day simple moving average is $16.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business posted $0.17 earnings per share. As a group, analysts expect that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

EGO has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. TD Securities lowered their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. Finally, StockNews.com cut shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.88.

Eldorado Gold Company 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.