Blue Trust Inc. Boosts Stake in Eldorado Gold Co. (NYSE:EGO)

Blue Trust Inc. lifted its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 232.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,910 shares of the basic materials company’s stock after buying an additional 1,336 shares during the period. Blue Trust Inc.’s holdings in Eldorado Gold were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGO. Jennison Associates LLC purchased a new position in shares of Eldorado Gold in the first quarter worth about $36,374,000. Donald Smith & CO. Inc. lifted its stake in shares of Eldorado Gold by 9.8% in the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock worth $196,261,000 after buying an additional 1,240,732 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Eldorado Gold in the first quarter worth about $11,431,000. Commonwealth Equity Services LLC purchased a new position in shares of Eldorado Gold in the second quarter worth about $6,992,000. Finally, Jessup Wealth Management Inc purchased a new position in shares of Eldorado Gold in the second quarter worth about $6,910,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EGO shares. CIBC raised their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, Royal Bank of Canada raised their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.38.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $16.34 on Friday. Eldorado Gold Co. has a 12-month low of $9.72 and a 12-month high of $19.06. The stock has a market cap of $3.35 billion, a P/E ratio of 19.45 and a beta of 0.95. The company has a 50-day moving average price of $17.42 and a 200 day moving average price of $16.33. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The business had revenue of $331.76 million during the quarter. During the same quarter in the prior year, the business earned $0.17 earnings per share. Sell-side analysts anticipate that Eldorado Gold Co. will post 1.45 earnings per share for the current 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.