Cetera Investment Advisers Raises Stake in Eldorado Gold Co. (NYSE:EGO)

Cetera Investment Advisers boosted its stake in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 61.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,864 shares of the basic materials company's stock after buying an additional 27,991 shares during the quarter. Cetera Investment Advisers' holdings in Eldorado Gold were worth $1,092,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Tobam grew its position in shares of Eldorado Gold by 14.8% in the second quarter. Tobam now owns 5,036 shares of the basic materials company's stock valued at $74,000 after purchasing an additional 651 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Eldorado Gold by 4.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company's stock valued at $679,000 after buying an additional 1,858 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Eldorado Gold by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company's stock worth $2,499,000 after acquiring an additional 2,472 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Eldorado Gold by 30.8% during the 2nd quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company's stock worth $243,000 after acquiring an additional 3,876 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold during the 2nd quarter worth about $74,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Monday, July 1st. Royal Bank of Canada lifted their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. CIBC lifted their price objective on Eldorado Gold from $18.00 to $22.50 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Finally, Scotiabank upped their target price 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.38.

Eldorado Gold Stock Up 3.3 %

NYSE EGO traded up $0.60 during trading on Friday, reaching $18.61. 2,357,613 shares of the company's stock were exchanged, compared to its average volume of 1,506,432. The company has a 50 day moving average price of $17.38 and a two-hundred day moving average price of $16.15. The stock has a market cap of $3.81 billion, a P/E ratio of 32.65 and a beta of 0.95. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $18.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $297.14 million during the quarter. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

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.