Financial Management Professionals Inc. Invests $32,000 in Eldorado Gold Co. (NYSE:EGO)

Financial Management Professionals Inc. acquired a new position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,831 shares of the basic materials company’s stock, valued at approximately $32,000.

Several other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Eldorado Gold in the 3rd quarter worth about $394,000. U S Global Investors Inc. raised its position in shares of Eldorado Gold by 5.9% in the 3rd quarter. U S Global Investors Inc. now owns 277,019 shares of the basic materials company’s stock worth $4,812,000 after acquiring an additional 15,351 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Eldorado Gold by 33.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company’s stock worth $3,515,000 after acquiring an additional 50,500 shares in the last quarter. Blue Trust Inc. raised its position in shares of Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 1,336 shares in the last quarter. Finally, Equinox Partners Investment Management LLC raised its position in shares of Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after acquiring an additional 239,800 shares in the last quarter. 69.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on EGO. Scotiabank raised their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Royal Bank of Canada raised their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. CIBC raised their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.38.

Eldorado Gold Price Performance

EGO stock opened at $17.38 on Monday. The company has a market capitalization of $3.56 billion, a P/E ratio of 20.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. Eldorado Gold Co. has a 52-week low of $9.72 and a 52-week high of $19.06. The business has a 50-day simple moving average of $17.47 and a two-hundred day simple moving average of $16.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $297.14 million during the quarter. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. During the same quarter last year, the firm posted $0.09 EPS. Research analysts expect that Eldorado Gold Co. will post 1.42 EPS for the current fiscal year.

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.