HighTower Advisors LLC Buys 22,413 Shares of Eldorado Gold Corporation $EGO

HighTower Advisors LLC boosted its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 72.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,400 shares of the basic materials company’s stock after buying an additional 22,413 shares during the quarter. HighTower Advisors LLC’s holdings in Eldorado Gold were worth $898,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its position in Eldorado Gold by 3.2% during the first quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company’s stock worth $210,128,000 after purchasing an additional 391,776 shares during the period. Vanguard Group Inc. boosted its position in Eldorado Gold by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock worth $134,984,000 after purchasing an additional 148,567 shares during the period. Jennison Associates LLC boosted its position in Eldorado Gold by 2.2% during the first quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company’s stock worth $121,874,000 after purchasing an additional 155,619 shares during the period. Carrhae Capital LLP boosted its position in Eldorado Gold by 10.7% during the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company’s stock worth $112,514,000 after purchasing an additional 648,574 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Eldorado Gold by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company’s stock worth $73,927,000 after purchasing an additional 74,389 shares during the period. Institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGO. Wall Street Zen lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, May 5th. CIBC reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank reissued a “sector perform” rating on shares of Eldorado Gold in a report on Monday, August 11th. Finally, National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Eldorado Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Eldorado Gold Trading Down 0.0%

Shares of Eldorado Gold stock opened at $24.29 on Thursday. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $24.33. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.39 and a beta of 0.37. 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 company’s 50-day moving average price is $21.37 and its 200-day moving average price is $18.89.

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

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.