Jennison Associates LLC Takes Position in Eldorado Gold Co. (NYSE:EGO)

Jennison Associates LLC acquired a new position in Eldorado Gold Co. (NYSE:EGOFree Report) (TSE:ELD) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,585,234 shares of the basic materials company’s stock, valued at approximately $36,374,000.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Eldorado Gold by 1.7% during the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock valued at $316,950,000 after acquiring an additional 380,991 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Eldorado Gold by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock worth $87,862,000 after buying an additional 79,670 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $37,000. CIBC Asset Management Inc lifted its stake in shares of Eldorado Gold by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 200,114 shares of the basic materials company’s stock valued at $2,606,000 after buying an additional 6,926 shares during the period. Finally, TD Asset Management Inc boosted its position in Eldorado Gold by 0.8% during the fourth quarter. TD Asset Management Inc now owns 533,641 shares of the basic materials company’s stock worth $6,961,000 after acquiring an additional 4,478 shares during the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Trading Down 0.1 %

Shares of EGO stock opened at $16.04 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. Eldorado Gold Co. has a fifty-two week low of $8.30 and a fifty-two week high of $16.69. The firm’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $13.74. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 0.29 and a beta of 0.92.

Eldorado Gold (NYSE:EGOGet Free Report) (TSE:ELD) last announced its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The firm had revenue of $257.97 million during the quarter. During the same period last year, the company posted $0.11 earnings per share. On average, analysts anticipate that Eldorado Gold Co. will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $14.00 to $20.00 in a research note on Wednesday, May 29th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. Finally, Scotiabank raised their target price on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock 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 given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.60.

Get Our Latest Research Report on Eldorado Gold

Eldorado Gold Company Profile

(Free Report)

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 Efem├žukuru 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.

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Institutional Ownership by Quarter for Eldorado Gold (NYSE:EGO)

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