Caitong International Asset Management Co. Ltd Takes $32,000 Position in Eldorado Gold Corporation $EGO

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,554 shares of the basic materials company’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently made changes to their positions in EGO. SBI Securities Co. Ltd. lifted its position in Eldorado Gold by 142.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 5,294 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Eldorado Gold during the first quarter valued at approximately $186,000. XTX Topco Ltd bought a new position in Eldorado Gold during the first quarter valued at approximately $207,000. Alps Advisors Inc. bought a new position in Eldorado Gold during the first quarter valued at approximately $250,000. Finally, Bank of New York Mellon Corp lifted its position in Eldorado Gold by 36.7% during the first quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company’s stock valued at $311,000 after purchasing an additional 4,966 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Down 0.9%

EGO opened at $26.03 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. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $30.89. The company has a market capitalization of $5.29 billion, a PE ratio of 13.08, a PEG ratio of 0.31 and a beta of 0.44. The firm’s 50 day simple moving average is $26.87 and its two-hundred day simple moving average is $22.57.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $459.53 million during the quarter, compared to the consensus estimate 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 forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EGO. Canaccord Genuity Group upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. CIBC increased their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Friday. Finally, Bank of America increased their price target on shares of Eldorado Gold from $25.00 to $28.00 and gave the stock an “underperform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.