Eldorado Gold Co. (NYSE:EGO) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc cut its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,878 shares of the basic materials company’s stock after selling 8,317 shares during the period. Eldorado Gold comprises about 3.7% of Jessup Wealth Management Inc’s holdings, making the stock its 11th largest holding. Jessup Wealth Management Inc owned about 0.22% of Eldorado Gold worth $7,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EGO. Point72 DIFC Ltd acquired a new position in shares of Eldorado Gold during the second quarter worth $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $191,000. Sanctuary Advisors LLC purchased a new position in shares of Eldorado Gold in the 2nd quarter valued at about $488,000. Cetera Investment Advisers raised its position in shares of Eldorado Gold by 61.0% during the 2nd quarter. Cetera Investment Advisers now owns 73,864 shares of the basic materials company’s stock worth $1,092,000 after acquiring an additional 27,991 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Eldorado Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Price Performance

NYSE EGO traded up $0.01 during trading hours on Friday, reaching $17.00. The company’s stock had a trading volume of 150,853 shares, compared to its average volume of 1,499,287. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. The stock has a market cap of $3.48 billion, a PE ratio of 20.22 and a beta of 0.95. The company’s 50-day moving average is $17.15 and its two-hundred day moving average is $15.98. Eldorado Gold Co. has a fifty-two week low of $9.30 and a fifty-two week high of $18.85.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share 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 net margin of 15.67% and a return on equity of 5.82%. During the same period in the prior year, the firm earned $0.09 EPS. Analysts forecast that Eldorado Gold Co. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. CIBC upped their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.38.

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.