Assenagon Asset Management S.A. raised its holdings in Eldorado Gold Co. (NYSE:EGO – Free Report) (TSE:ELD) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,647,656 shares of the basic materials company’s stock after purchasing an additional 145,019 shares during the period. Assenagon Asset Management S.A. owned 0.89% of Eldorado Gold worth $17,070,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $160,000. Helikon Investments Ltd lifted its holdings in shares of Eldorado Gold by 5.5% in the fourth quarter. Helikon Investments Ltd now owns 23,372,220 shares of the basic materials company’s stock valued at $195,392,000 after purchasing an additional 1,216,492 shares in the last quarter. Equinox Partners Investment Management LLC lifted its holdings in shares of Eldorado Gold by 16.5% in the fourth quarter. Equinox Partners Investment Management LLC now owns 918,080 shares of the basic materials company’s stock valued at $7,675,000 after purchasing an additional 130,208 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Eldorado Gold by 41.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,501,933 shares of the basic materials company’s stock valued at $12,524,000 after purchasing an additional 443,434 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Eldorado Gold by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 19,908,728 shares of the basic materials company’s stock valued at $166,437,000 after purchasing an additional 120,558 shares in the last quarter. Hedge funds and other institutional investors own 59.09% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. BMO Capital Markets initiated coverage on shares of Eldorado Gold in a report on Friday, June 9th. They issued an “outperform” rating and a C$17.00 price target on the stock. Stifel Nicolaus downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. TD Securities upped their price objective on shares of Eldorado Gold from $11.50 to $12.00 and gave the company a “hold” rating in a research note on Monday, May 1st. Bank of America initiated coverage on shares of Eldorado Gold in a research note on Friday, March 10th. They set an “underperform” rating and a $8.90 price objective on the stock. Finally, National Bank Financial raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eldorado Gold currently has an average rating of “Moderate Buy” and a consensus price target of $13.73.
Eldorado Gold Stock Performance
Eldorado Gold (NYSE:EGO – Free Report) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $229.35 million for the quarter. Eldorado Gold had a negative net margin of 1.10% and a positive return on equity of 1.62%. Analysts expect that Eldorado Gold Co. will post 0.45 EPS 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 gold mines located in western Turkey; Lamaque gold mines 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.
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