Cerity Partners LLC Makes New Investment in Eldorado Gold Co. (NYSE:EGO)

Cerity Partners LLC purchased a new stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,180 shares of the basic materials company’s stock, valued at approximately $287,000.

Several other hedge funds have also modified their holdings of the stock. Envestnet Asset Management Inc. bought a new position in Eldorado Gold in the 4th quarter valued at $183,000. Donald Smith & CO. Inc. boosted its holdings in Eldorado Gold by 2.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock valued at $179,942,000 after acquiring an additional 309,599 shares during the last quarter. Trexquant Investment LP increased its position in Eldorado Gold by 39.3% in the fourth quarter. Trexquant Investment LP now owns 272,594 shares of the basic materials company’s stock worth $4,053,000 after purchasing an additional 76,863 shares during the period. Geode Capital Management LLC raised its holdings in Eldorado Gold by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 99,562 shares of the basic materials company’s stock worth $1,496,000 after purchasing an additional 3,651 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Eldorado Gold by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 1,500 shares during the period. 69.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EGO. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th. Royal Bank of Canada raised their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Scotiabank increased their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued 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 $20.38.

Eldorado Gold Stock Down 2.2 %

NYSE:EGO opened at $19.06 on Thursday. Eldorado Gold Co. has a 1 year low of $13.29 and a 1 year high of $20.65. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $16.15 and a two-hundred day moving average price of $16.02. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 13.62 and a beta of 0.81.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.13. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. As a group, equities analysts expect that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

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.