Jennison Associates LLC Grows Position in Eldorado Gold Corporation $EGO

Jennison Associates LLC increased its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,990,223 shares of the basic materials company’s stock after purchasing an additional 744,419 shares during the quarter. Jennison Associates LLC’s holdings in Eldorado Gold were worth $162,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in EGO. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eldorado Gold in the 2nd quarter valued at approximately $32,000. SBI Securities Co. Ltd. lifted 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 purchasing an additional 5,294 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Eldorado Gold in the 1st quarter valued at approximately $186,000. XTX Topco Ltd purchased a new position in shares of Eldorado Gold in the 1st quarter valued at approximately $207,000. Finally, Alps Advisors Inc. purchased a new position in shares of Eldorado Gold in the 1st quarter valued at approximately $250,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Down 0.1%

EGO stock opened at $25.08 on Wednesday. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $30.89. The business has a fifty day moving average price of $26.97 and a 200-day moving average price of $22.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.23 and a quick ratio of 2.65. The stock has a market capitalization of $5.10 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.30 and a beta of 0.44.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results 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). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The business had revenue of $459.53 million during the quarter, compared to analysts’ expectations of $401.85 million. Equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Scotiabank raised their target price on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Bank of America lifted their price objective on Eldorado Gold from $25.00 to $28.00 and gave the company an “underperform” rating in a research note on Thursday, October 16th. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, July 16th. Finally, Wall Street Zen cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.