Counterpoint Mutual Funds LLC Purchases New Shares in Eldorado Gold Corporation $EGO

Counterpoint Mutual Funds LLC purchased a new stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,171 shares of the basic materials company’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in Eldorado Gold by 3.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company’s stock worth $210,128,000 after purchasing an additional 391,776 shares during the last quarter. L1 Capital Pty Ltd raised its holdings in Eldorado Gold by 22.7% during the 1st quarter. L1 Capital Pty Ltd now owns 8,774,080 shares of the basic materials company’s stock worth $147,580,000 after purchasing an additional 1,621,173 shares during the last quarter. Vanguard Group Inc. raised its holdings in Eldorado Gold by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock worth $134,984,000 after purchasing an additional 148,567 shares during the last quarter. Jennison Associates LLC raised its holdings in Eldorado Gold by 2.2% during the 1st quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company’s stock worth $121,874,000 after purchasing an additional 155,619 shares during the last quarter. Finally, Carrhae Capital LLP raised its holdings in Eldorado Gold by 10.7% during the 1st quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company’s stock worth $112,514,000 after purchasing an additional 648,574 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EGO. CIBC reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Eldorado Gold in a research note on Monday, August 11th. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Eldorado Gold Stock Down 1.9%

EGO opened at $28.08 on Thursday. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $29.24. The stock’s fifty day simple moving average is $23.86 and its 200 day simple moving average is $20.61. 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 cap of $5.71 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.45 and a beta of 0.44.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data 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 firm had revenue of $459.53 million for 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, research analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

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.