Olympiad Research LP Buys Shares of 12,690 Eldorado Gold Corporation $EGO

Olympiad Research LP purchased a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the third quarter, HoldingsChannel reports. The institutional investor purchased 12,690 shares of the basic materials company’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Eldorado Gold during the 2nd quarter valued at about $32,000. Headlands Technologies LLC acquired a new stake in Eldorado Gold in the 2nd quarter valued at approximately $32,000. TD Waterhouse Canada Inc. lifted its position in shares of Eldorado Gold by 35.4% in the second quarter. TD Waterhouse Canada Inc. now owns 2,247 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 587 shares in the last quarter. State of Wyoming acquired a new stake in shares of Eldorado Gold in the second quarter valued at about $58,000. Finally, Employees Retirement System of Texas bought a new stake in shares of Eldorado Gold during the 2nd quarter worth approximately $83,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

NYSE EGO opened at $44.86 on Thursday. The firm’s 50-day simple moving average is $34.46 and its two-hundred day simple moving average is $28.28. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $46.36. The company has a market cap of $8.91 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.22 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EGO shares. Bank of America increased their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. Wall Street Zen downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Scotiabank raised their price objective on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Finally, CIBC boosted their price objective 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 given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Eldorado Gold has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada?based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced?stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.