Eldorado Gold Corporation (NYSE:EGO) Stake Lifted by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. increased its stake in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 142.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,006 shares of the basic materials company’s stock after acquiring an additional 5,294 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Eldorado Gold were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGO. Raymond James Financial Inc. acquired a new position in shares of Eldorado Gold during the fourth quarter worth approximately $1,249,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Eldorado Gold by 11.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,377 shares of the basic materials company’s stock valued at $764,000 after purchasing an additional 5,397 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Eldorado Gold during the fourth quarter worth approximately $461,000. Swiss National Bank boosted its stake in shares of Eldorado Gold by 0.6% in the 4th quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock valued at $6,000,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Eldorado Gold by 3.8% during the fourth quarter. Boston Partners now owns 1,777,646 shares of the basic materials company’s stock worth $26,456,000 after purchasing an additional 64,528 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Down 1.0%

EGO stock opened at $20.15 on Friday. The stock has a market capitalization of $4.11 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.35 and a beta of 0.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.12 and a quick ratio of 2.53. The business has a fifty day moving average price of $20.18 and a 200-day moving average price of $17.52. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $21.79.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $341.59 million during the quarter, compared to analysts’ expectations of $319.83 million. Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. Equities analysts forecast that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on EGO shares. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. CIBC reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday. Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank lifted their price objective on Eldorado Gold from $16.50 to $19.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

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.