Envestnet Asset Management Inc. Invests $183,000 in Eldorado Gold Co. (NYSE:EGO)

Envestnet Asset Management Inc. purchased a new stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,318 shares of the basic materials company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in shares of Eldorado Gold by 2.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock worth $179,942,000 after acquiring an additional 309,599 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eldorado Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock worth $117,228,000 after purchasing an additional 136,594 shares during the last quarter. Jennison Associates LLC raised its position in shares of Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. Carrhae Capital LLP raised its position in shares of Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock valued at $89,826,000 after purchasing an additional 738,233 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew 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 buying an additional 2,296,018 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday. Scotiabank lifted their price target on Eldorado Gold from $16.50 to $19.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada lifted their target price on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Eldorado Gold presently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Eldorado Gold Stock Performance

Shares of NYSE EGO opened at $19.55 on Friday. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $17.28 and its two-hundred day moving average price is $16.14. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $20.65. The stock has a market capitalization of $4.02 billion, a P/E ratio of 13.96 and a beta of 0.42.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, sell-side analysts forecast that Eldorado Gold Co. will post 1.5 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.