Quantbot Technologies LP Buys New Holdings in Eldorado Gold Corporation $EGO

Quantbot Technologies LP purchased a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,048 shares of the basic materials company’s stock, valued at approximately $1,038,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. L1 Capital Pty Ltd increased its position in shares of Eldorado Gold by 22.7% in the first quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company’s stock worth $147,580,000 after acquiring an additional 1,621,173 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Eldorado Gold by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock worth $134,984,000 after buying an additional 148,567 shares in the last quarter. Jennison Associates LLC lifted its holdings in Eldorado Gold by 10.3% in the 2nd quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock worth $162,521,000 after buying an additional 744,419 shares in the last quarter. Invesco Ltd. boosted its position in Eldorado Gold by 17.9% in the 1st quarter. Invesco Ltd. now owns 2,347,487 shares of the basic materials company’s stock valued at $39,485,000 after buying an additional 355,962 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of Eldorado Gold by 127.2% during the first quarter. Invenomic Capital Management LP now owns 2,262,181 shares of the basic materials company’s stock valued at $38,050,000 after acquiring an additional 1,266,329 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Trading Down 0.7%

NYSE:EGO opened at $30.87 on Tuesday. The company has a market cap of $6.20 billion, a PE ratio of 17.15, a P/E/G ratio of 0.39 and a beta of 0.57. The business’s 50 day moving average is $28.20 and its two-hundred day moving average is $24.60. 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 $32.06.

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 for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). The firm had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. On average, analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analyst Ratings Changes

EGO has been the topic of a number of analyst reports. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. Scotiabank lifted their price objective on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Bank of America upped their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. Canaccord Genuity Group upgraded Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, CIBC lifted their price target 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 issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price 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.