Eldorado Gold Corporation $EGO Shares Sold by Helikon Investments Ltd

Helikon Investments Ltd lessened its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 66.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,760,879 shares of the basic materials company’s stock after selling 9,585,492 shares during the period. Eldorado Gold accounts for approximately 6.0% of Helikon Investments Ltd’s portfolio, making the stock its 6th biggest position. Helikon Investments Ltd owned about 2.34% of Eldorado Gold worth $96,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Eldorado Gold during the second quarter worth about $32,000. SBI Securities Co. Ltd. grew its stake in shares of Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company’s stock valued at $151,000 after buying an additional 5,294 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Eldorado Gold during the 1st quarter worth approximately $186,000. XTX Topco Ltd acquired a new stake in shares of Eldorado Gold during the 1st quarter worth approximately $207,000. Finally, Savant Capital LLC purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at approximately $285,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EGO. Scotiabank raised their target price 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. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Finally, CIBC increased their target price on shares of Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Eldorado Gold Trading Up 2.7%

Shares of NYSE EGO opened at $28.89 on Thursday. The stock has a fifty day simple moving average of $27.49 and a 200-day simple moving average of $23.22. Eldorado Gold Corporation has a twelve month low of $13.29 and a twelve month high of $30.89. 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 stock has a market capitalization of $5.81 billion, a PE ratio of 14.52, a PEG ratio of 0.29 and a beta of 0.49.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 26.07% and a return on equity of 8.79%. On average, equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

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.