Ninety One UK Ltd Makes New $32.47 Million Investment in Eldorado Gold Co. (NYSE:EGO)

Ninety One UK Ltd acquired a new position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,503,677 shares of the basic materials company’s stock, valued at approximately $32,473,000. Ninety One UK Ltd owned about 1.22% of Eldorado Gold at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EGO. Tobam bought a new position in shares of Eldorado Gold during the fourth quarter valued at approximately $68,000. Prelude Capital Management LLC purchased a new stake in Eldorado Gold during the second quarter worth $78,000. LPL Financial LLC lifted its holdings in shares of Eldorado Gold by 19.5% during the 2nd quarter. LPL Financial LLC now owns 12,286 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 2,008 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at $80,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Eldorado Gold during the 2nd quarter valued at $88,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock opened at $14.90 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.39 and a debt-to-equity ratio of 0.18. Eldorado Gold Co. has a twelve month low of $8.30 and a twelve month high of $16.01. The business has a 50-day moving average price of $12.89 and a 200 day moving average price of $12.06. The firm has a market cap of $3.04 billion, a PE ratio of 28.11, a P/E/G ratio of 6.31 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Eldorado Gold had a return on equity of 3.56% and a net margin of 10.54%. The firm had revenue of $306.90 million during the quarter. Sell-side analysts predict that Eldorado Gold Co. will post 0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EGO. National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a research note on Friday, January 26th. Stifel Canada lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. TD Securities cut their price target on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. Finally, CIBC increased their price target on Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.30.

About Eldorado Gold

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.