Equinox Partners Investment Management LLC Boosts Holdings in Eldorado Gold Co. (NYSE:EGO)

Equinox Partners Investment Management LLC raised its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 32.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 989,376 shares of the basic materials company’s stock after purchasing an additional 239,800 shares during the quarter. Eldorado Gold accounts for about 11.8% of Equinox Partners Investment Management LLC’s investment portfolio, making the stock its 3rd biggest position. Equinox Partners Investment Management LLC owned about 0.48% of Eldorado Gold worth $17,185,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EGO. Tobam increased its holdings in shares of Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 651 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $74,000. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $97,000. Virtu Financial LLC acquired a new stake in shares of Eldorado Gold during the 1st quarter valued at about $165,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $191,000. Institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EGO has been the topic of several recent research reports. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada lifted their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank lifted their target price 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. Finally, CIBC lifted their target price on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold has an average rating of “Hold” and a consensus target price of $19.38.

Eldorado Gold Price Performance

NYSE:EGO opened at $18.61 on Friday. The firm has a market cap of $3.81 billion, a PE ratio of 32.65 and a beta of 0.95. Eldorado Gold Co. has a 12 month low of $9.72 and a 12 month high of $18.85. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $16.15.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The firm had revenue of $297.14 million for the quarter. During the same quarter last year, the firm earned $0.09 earnings per share. On average, equities analysts anticipate that Eldorado Gold Co. will post 1.41 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.