Eldorado Gold Co. (NYSE:EGO) Position Boosted by Equinox Partners Investment Management LLC

Equinox Partners Investment Management LLC grew its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 32.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 989,376 shares of the basic materials company's stock after purchasing an additional 239,800 shares during the quarter. Eldorado Gold comprises approximately 11.8% of Equinox Partners Investment Management LLC's portfolio, making the stock its 3rd biggest holding. Equinox Partners Investment Management LLC owned 0.48% of Eldorado Gold worth $17,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tobam lifted its holdings in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company's stock worth $74,000 after purchasing an additional 651 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Eldorado Gold in the second quarter worth about $74,000. Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter valued at approximately $97,000. Virtu Financial LLC purchased a new position in Eldorado Gold during the first quarter valued at approximately $165,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Eldorado Gold during the 2nd quarter worth approximately $191,000. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Price Performance

EGO traded up $0.61 during midday trading on Friday, hitting $18.62. The stock had a trading volume of 2,357,773 shares, compared to its average volume of 1,506,432. 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. The business has a fifty day moving average of $17.38 and a 200 day moving average of $16.16. The company has a market cap of $3.81 billion, a P/E ratio of 32.67 and a beta of 0.95.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The company had revenue of $297.14 million during the quarter. During the same period last year, the company posted $0.09 EPS. As a group, equities analysts forecast that Eldorado Gold Co. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on EGO. Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a research report on Monday, August 19th. CIBC boosted their target price on Eldorado Gold from $18.00 to $22.50 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. 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. Finally, StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Monday, July 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.38.

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.