Eldorado Gold Corporation $EGO is Donald Smith & CO. Inc.’s 2nd Largest Position

Donald Smith & CO. Inc. cut its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,481,326 shares of the basic materials company’s stock after selling 2,011,430 shares during the period. Eldorado Gold accounts for 5.0% of Donald Smith & CO. Inc.’s holdings, making the stock its 2nd biggest holding. Donald Smith & CO. Inc. owned 5.16% of Eldorado Gold worth $213,190,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Eldorado Gold by 228.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,994,328 shares of the basic materials company’s stock valued at $101,649,000 after buying an additional 3,472,504 shares during the last quarter. Quantbot Technologies LP purchased a new position in Eldorado Gold during the second quarter valued at $1,038,000. Schroder Investment Management Group increased its holdings in Eldorado Gold by 27.6% in the 2nd quarter. Schroder Investment Management Group now owns 743,418 shares of the basic materials company’s stock valued at $15,121,000 after acquiring an additional 160,875 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in Eldorado Gold in the 2nd quarter worth $83,000. Finally, Northwest & Ethical Investments L.P. lifted its stake in Eldorado Gold by 6.4% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 22,155 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 1,340 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $31.10 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79. The company has a market capitalization of $6.25 billion, a PE ratio of 17.28, a P/E/G ratio of 0.39 and a beta of 0.57. The company has a 50 day moving average price of $28.15 and a 200-day moving average price of $24.48. Eldorado Gold Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $32.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.08). The firm had revenue of $436.44 million for the quarter, compared to analysts’ expectations of $422.25 million. Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%. As a group, equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EGO shares. Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Scotiabank lifted their price objective on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Bank of America upped their price objective on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a report on Monday, December 1st. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.20.

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.