Gabelli Funds LLC Raises Stake in Eldorado Gold Co. (NYSE:EGO)

Gabelli Funds LLC increased its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,020,000 shares of the basic materials company’s stock after purchasing an additional 55,000 shares during the quarter. Gabelli Funds LLC owned 0.99% of Eldorado Gold worth $28,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EGO. Parkside Financial Bank & Trust purchased a new position in Eldorado Gold in the fourth quarter valued at about $35,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Eldorado Gold in the 4th quarter worth about $37,000. Tobam acquired a new position in Eldorado Gold during the fourth quarter worth about $68,000. Aigen Investment Management LP purchased a new position in shares of Eldorado Gold during the 4th quarter worth approximately $134,000. Finally, Sapient Capital LLC acquired a new position in shares of Eldorado Gold during the 4th quarter worth approximately $151,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Trading Up 2.0 %

EGO stock traded up $0.32 on Friday, hitting $16.01. 1,138,917 shares of the company were exchanged, compared to its average volume of 1,093,061. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 0.25 and a beta of 0.92. Eldorado Gold Co. has a twelve month low of $8.30 and a twelve month high of $17.28. The business’s fifty day moving average is $15.69 and its two-hundred day moving average is $14.09.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $297.14 million during the quarter. Eldorado Gold had a return on equity of 5.89% and a net margin of 15.67%. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, research analysts forecast that Eldorado Gold Co. will post 1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

EGO has been the topic of a number of analyst reports. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada raised shares of 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. Scotiabank boosted their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. Finally, CIBC raised their target price on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Eldorado Gold has an average rating of “Hold” and a consensus price target of $16.50.

Eldorado Gold Company 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.