Harvest Portfolios Group Inc. Boosts Stock Position in Eldorado Gold Corporation $EGO

Harvest Portfolios Group Inc. boosted its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 12.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,440 shares of the basic materials company’s stock after buying an additional 4,754 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Eldorado Gold were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Eldorado Gold during the second quarter valued at $32,000. SBI Securities Co. Ltd. raised its position in shares of Eldorado Gold by 142.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 5,294 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Eldorado Gold in the 1st quarter worth about $186,000. XTX Topco Ltd purchased a new stake in Eldorado Gold during the 1st quarter worth approximately $207,000. Finally, Alps Advisors Inc. purchased a new stake in Eldorado Gold during the 1st quarter worth approximately $250,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EGO shares. CIBC raised their target price on Eldorado Gold from $32.00 to $46.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Scotiabank upped their target price on shares of Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eldorado Gold has an average rating of “Moderate Buy” and an average price target of $31.00.

Eldorado Gold Trading Up 1.8%

Shares of EGO opened at $26.75 on Friday. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month high of $30.89. The firm has a market capitalization of $5.38 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.29 and a beta of 0.49. The firm has a 50-day moving average price of $27.30 and a 200 day moving average price of $23.00. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, October 30th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.08). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The firm had revenue of $436.44 million during the quarter, compared to analyst estimates of $422.25 million. Sell-side analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

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.