Carrhae Capital LLP decreased its holdings in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,302,497 shares of the basic materials company's stock after selling 691,581 shares during the quarter. Eldorado Gold comprises approximately 10.5% of Carrhae Capital LLP's portfolio, making the stock its biggest position. Carrhae Capital LLP owned 2.59% of Eldorado Gold worth $92,104,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in EGO. Vanguard Group Inc. boosted its position in Eldorado Gold by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company's stock valued at $87,862,000 after acquiring an additional 79,670 shares in the last quarter. Van ECK Associates Corp grew its stake in Eldorado Gold by 1.7% in the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company's stock worth $316,950,000 after purchasing an additional 380,991 shares during the period. Jennison Associates LLC bought a new position in Eldorado Gold in the first quarter worth $36,374,000. SG Americas Securities LLC lifted its position in Eldorado Gold by 59.6% during the first quarter. SG Americas Securities LLC now owns 22,303 shares of the basic materials company's stock valued at $314,000 after buying an additional 8,326 shares during the period. Finally, Donald Smith & CO. Inc. boosted its holdings in shares of Eldorado Gold by 9.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company's stock valued at $196,261,000 after buying an additional 1,240,732 shares in the last quarter. Institutional investors own 69.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. CIBC lifted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Monday, July 1st. Finally, Scotiabank raised their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.38.
View Our Latest Stock Analysis on EGO
Eldorado Gold Stock Performance
Shares of EGO stock traded down $0.12 during mid-day trading on Monday, reaching $18.51. 1,552,341 shares of the company's stock traded hands, compared to its average volume of 1,506,659. Eldorado Gold Co. has a 12 month low of $9.72 and a 12 month high of $19.06. The firm has a 50 day moving average price of $17.38 and a two-hundred day moving average price of $16.17. The firm has a market capitalization of $3.79 billion, a PE ratio of 32.44 and a beta of 0.95. 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 quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The firm had revenue of $297.14 million for the quarter. During the same period last year, the business earned $0.09 EPS. On average, research analysts forecast that Eldorado Gold Co. will post 1.41 EPS for the current 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.
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