Eldorado Gold Co. (NYSE:EGO) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 1.8% during the fourth quarter, HoldingsChannel reports. The fund owned 7,881,402 shares of the basic materials company’s stock after acquiring an additional 136,594 shares during the quarter. Vanguard Group Inc.’s holdings in Eldorado Gold were worth $117,228,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd lifted its position in shares of Eldorado Gold by 648.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock worth $39,408,000 after purchasing an additional 2,296,018 shares during the last quarter. Jennison Associates LLC raised its stake in Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Eldorado Gold during the 3rd quarter worth approximately $2,626,000. Amundi grew its position in shares of Eldorado Gold by 13.6% in the 4th quarter. Amundi now owns 1,095,624 shares of the basic materials company’s stock worth $17,585,000 after acquiring an additional 130,848 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after acquiring an additional 118,760 shares during the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $15.62 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm has a market capitalization of $3.20 billion, a PE ratio of 11.15 and a beta of 0.81. Eldorado Gold Co. has a 1-year low of $13.29 and a 1-year high of $19.06. The business’s fifty day moving average price is $15.13 and its two-hundred day moving average price is $15.88.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The business had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. On average, research analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

EGO has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Scotiabank dropped their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

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.