Invenomic Capital Management LP Has $24.45 Million Position in Eldorado Gold Co. (NYSE:EGO)

Invenomic Capital Management LP increased its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 28.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,738,044 shares of the basic materials company’s stock after acquiring an additional 380,982 shares during the period. Eldorado Gold comprises 1.3% of Invenomic Capital Management LP’s investment portfolio, making the stock its 25th biggest holding. Invenomic Capital Management LP’s holdings in Eldorado Gold were worth $24,454,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Eldorado Gold during the first quarter worth $36,374,000. Ninety One UK Ltd purchased a new stake in shares of Eldorado Gold during the 4th quarter valued at $32,473,000. Donald Smith & CO. Inc. raised its stake in shares of Eldorado Gold by 20.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock worth $164,825,000 after purchasing an additional 2,136,824 shares during the period. Boston Partners bought a new position in Eldorado Gold during the fourth quarter valued at about $27,167,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Eldorado Gold in the fourth quarter worth about $24,273,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Eldorado Gold stock traded up $0.06 during midday trading on Tuesday, reaching $16.62. 827,861 shares of the company traded hands, compared to its average volume of 1,528,592. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. Eldorado Gold Co. has a 12 month low of $8.30 and a 12 month high of $17.28. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 0.26 and a beta of 0.92. The business has a 50 day moving average of $15.69 and a two-hundred day moving average of $14.13.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $297.14 million during the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, research analysts predict that Eldorado Gold Co. will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. CIBC lifted their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $14.00 to $20.00 in a research note on Wednesday, May 29th. Finally, Scotiabank lifted their price target on Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.50.

Eldorado Gold 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.