Allspring Global Investments Holdings LLC Has $16 Million Position in Eldorado Gold Corporation $EGO

Allspring Global Investments Holdings LLC increased its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 99.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 554,300 shares of the basic materials company’s stock after buying an additional 276,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eldorado Gold were worth $16,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Eldorado Gold by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 1,146,359 shares of the basic materials company’s stock valued at $23,332,000 after buying an additional 88,752 shares during the last quarter. TT International Asset Management LTD bought a new position in shares of Eldorado Gold in the 3rd quarter valued at about $1,186,000. Amundi increased its position in shares of Eldorado Gold by 17.7% in the first quarter. Amundi now owns 1,289,210 shares of the basic materials company’s stock valued at $22,806,000 after acquiring an additional 193,586 shares during the last quarter. Jennison Associates LLC raised its holdings in Eldorado Gold by 10.3% during the second quarter. Jennison Associates LLC now owns 7,990,223 shares of the basic materials company’s stock worth $162,521,000 after acquiring an additional 744,419 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Eldorado Gold during the second quarter valued at approximately $644,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $35.38 on Monday. Eldorado Gold Corporation has a 52 week low of $13.29 and a 52 week high of $37.59. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 0.18 and a beta of 0.54. The company has a 50-day simple moving average of $30.91 and a 200 day simple moving average of $26.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%.The company had revenue of $436.44 million for the quarter, compared to analyst estimates of $422.25 million. On average, sell-side analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on EGO. Wall Street Zen lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Canaccord Genuity Group upgraded shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Scotiabank increased their price target on shares of Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. CIBC boosted their price objective on shares of Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Bank of America upped their target price on shares of Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.20.

Eldorado Gold Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.