MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 32,892 Shares of Eldorado Gold Co. (NYSE:EGO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 7.8% during the fourth quarter, Holdings Channel reports. The fund owned 453,416 shares of the basic materials company’s stock after acquiring an additional 32,892 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Eldorado Gold were worth $6,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Eldorado Gold by 18.6% in the 3rd quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock valued at $3,064,000 after purchasing an additional 27,667 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eldorado Gold by 130.7% in the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after purchasing an additional 85,053 shares during the last quarter. Perpetual Ltd acquired a new position in Eldorado Gold during the fourth quarter worth $425,000. Jennison Associates LLC increased its holdings in Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after buying an additional 1,058,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Eldorado Gold by 12.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,300 shares of the basic materials company’s stock worth $3,376,000 after purchasing an additional 25,300 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $17.85 on Friday. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $20.65. The stock’s 50 day moving average price is $17.73 and its two-hundred day moving average price is $16.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.75 and a beta of 0.42.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $341.59 million during the quarter, compared to the consensus estimate of $319.83 million. On average, equities analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, May 5th. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank upped their price objective on Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada increased their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.70.

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.