Ruffer LLP Purchases New Holdings in Eldorado Gold Corporation (NYSE:EGO)

Ruffer LLP bought a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 992,097 shares of the basic materials company’s stock, valued at approximately $16,687,000. Ruffer LLP owned 0.48% of Eldorado Gold as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd lifted its position in Eldorado Gold by 43.5% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company’s stock valued at $63,970,000 after acquiring an additional 1,152,909 shares in the last quarter. Carrhae Capital LLP raised its holdings in shares of Eldorado Gold by 10.7% in the 1st quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company’s stock valued at $112,514,000 after purchasing an additional 648,574 shares during the period. Wellington Management Group LLP bought a new stake in shares of Eldorado Gold in the 4th quarter valued at about $6,973,000. BNP Paribas Financial Markets raised its holdings in shares of Eldorado Gold by 231.7% in the 4th quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company’s stock valued at $8,192,000 after purchasing an additional 384,793 shares during the period. Finally, Heartland Advisors Inc. raised its holdings in shares of Eldorado Gold by 104.7% in the 1st quarter. Heartland Advisors Inc. now owns 648,100 shares of the basic materials company’s stock valued at $10,901,000 after purchasing an additional 331,450 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

NYSE EGO opened at $21.03 on Monday. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 0.35 and a beta of 0.37. The firm’s 50 day simple moving average is $20.61 and its 200 day simple moving average is $17.95. Eldorado Gold Corporation has a 1 year low of $13.29 and a 1 year high of $21.82.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%. The firm had revenue of $459.53 million for the quarter, compared to analyst estimates of $401.85 million. As a group, research analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EGO shares. Scotiabank upped their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Canaccord Genuity Group decreased their price target 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, May 5th. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, CIBC restated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Moderate Buy” and an average price target of $23.60.

About Eldorado Gold

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.