Schroder Investment Management Group increased its stake in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 22.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,149,397 shares of the basic materials company’s stock after buying an additional 950,413 shares during the quarter. Schroder Investment Management Group owned about 0.65% of Eldorado Gold worth $6,093,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Eldorado Gold by 8.0% in the second quarter. Van ECK Associates Corp now owns 88,142,305 shares of the basic materials company’s stock worth $87,569,000 after acquiring an additional 6,546,548 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Eldorado Gold by 12.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 11,891,510 shares of the basic materials company’s stock worth $11,814,000 after acquiring an additional 1,359,898 shares during the period. BlackRock Inc. raised its position in shares of Eldorado Gold by 2.1% in the second quarter. BlackRock Inc. now owns 7,532,680 shares of the basic materials company’s stock worth $7,484,000 after acquiring an additional 157,562 shares during the period. Bank of Montreal Can raised its position in shares of Eldorado Gold by 5.2% in the second quarter. Bank of Montreal Can now owns 6,488,408 shares of the basic materials company’s stock worth $6,445,000 after acquiring an additional 323,173 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Eldorado Gold by 5.6% in the first quarter. Allianz Asset Management GmbH now owns 5,594,696 shares of the basic materials company’s stock worth $4,687,000 after acquiring an additional 295,811 shares during the period. 40.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eldorado Gold stock traded down $0.04 during mid-day trading on Friday, hitting $0.66. The stock had a trading volume of 6,540,392 shares, compared to its average volume of 4,649,526. Eldorado Gold Corp has a 12-month low of $0.65 and a 12-month high of $1.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.33 and a quick ratio of 4.79. The stock has a market cap of $578.67 million, a price-to-earnings ratio of 32.92 and a beta of 1.58.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Eldorado Gold had a negative net margin of 35.17% and a negative return on equity of 0.27%. The firm had revenue of $81.07 million during the quarter, compared to analysts’ expectations of $107.21 million. Equities analysts expect that Eldorado Gold Corp will post -0.01 earnings per share for the current fiscal year.
A number of brokerages have weighed in on EGO. Canaccord Genuity reiterated a “hold” rating on shares of Eldorado Gold in a research report on Monday, October 22nd. ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. TD Securities cut their target price on shares of Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating for the company in a research note on Monday, October 29th. Zacks Investment Research cut shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Finally, National Bank Financial assumed coverage on shares of Eldorado Gold in a research note on Thursday, October 18th. They set an “outperform” rating for the company. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $1.11.
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Eldorado Gold Company Profile
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.
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