Eldorado Gold Co. (NYSE:EGO) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 995,852 shares of the basic materials company’s stock after selling 155,840 shares during the period. Invenomic Capital Management LP owned approximately 0.49% of Eldorado Gold worth $14,808,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of EGO. TD Waterhouse Canada Inc. boosted its holdings in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Eldorado Gold during the 4th quarter valued at approximately $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Eldorado Gold during the fourth quarter worth approximately $113,000. Tradition Wealth Management LLC acquired a new stake in shares of Eldorado Gold during the fourth quarter worth approximately $153,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Eldorado Gold in the fourth quarter worth $183,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Eldorado Gold Trading Up 0.6 %

Shares of EGO stock opened at $19.66 on Friday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 14.04 and a beta of 0.42. The firm has a fifty day moving average of $17.40 and a 200-day moving average of $16.13. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $20.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. On average, equities research analysts forecast that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EGO. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. Canaccord Genuity Group reduced their price target on Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of “Moderate Buy” and an average target price of $21.70.

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.