Wellington Management Group LLP Makes New $6.97 Million Investment in Eldorado Gold Co. (NYSE:EGO)

Wellington Management Group LLP acquired a new position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 469,062 shares of the basic materials company’s stock, valued at approximately $6,973,000.

Several other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Eldorado Gold during the 3rd quarter valued at about $2,626,000. Barclays PLC lifted its stake in Eldorado Gold by 18.6% in the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock valued at $3,064,000 after buying an additional 27,667 shares during the period. Geode Capital Management LLC grew its holdings in shares of Eldorado Gold by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company’s stock valued at $1,675,000 after buying an additional 6,629 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 8,512 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Eldorado Gold by 331.4% in the third quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock valued at $2,295,000 after buying an additional 106,438 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Up 5.2 %

Eldorado Gold stock opened at $17.99 on Friday. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 12.85 and a beta of 0.81. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The firm has a 50 day moving average price of $15.26 and a two-hundred day moving average price of $15.89.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $440.43 million. Equities analysts predict that Eldorado Gold Co. will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EGO shares. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Thursday. Scotiabank reduced their price objective on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Eldorado Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Eldorado Gold Company 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.