Eldorado Gold Corporation (NYSE:EGO) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 36.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,479 shares of the basic materials company’s stock after purchasing an additional 4,966 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eldorado Gold were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. TD Waterhouse Canada Inc. lifted its stake in Eldorado Gold by 26.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eldorado Gold by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock worth $2,664,000 after purchasing an additional 1,174 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Eldorado Gold by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 1,500 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Eldorado Gold by 335.3% during the 1st quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company’s stock valued at $42,000 after buying an additional 1,945 shares during the period. Finally, Vident Advisory LLC raised its position in shares of Eldorado Gold by 5.3% during the 4th quarter. Vident Advisory LLC now owns 54,484 shares of the basic materials company’s stock valued at $810,000 after buying an additional 2,752 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

NYSE:EGO opened at $21.68 on Tuesday. The company has a fifty day simple moving average of $20.65 and a two-hundred day simple moving average of $18.00. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.35 and a beta of 0.37. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $21.86.

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

Analyst Ratings Changes

EGO has been the topic of several analyst reports. Scotiabank lifted 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. Canaccord Genuity Group reduced 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 report on Monday, May 5th. Wall Street Zen raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Finally, CIBC reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Eldorado Gold currently has a consensus rating of “Moderate Buy” and a consensus 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.