Invenomic Capital Management LP Has $14.81 Million Stake in Eldorado Gold Co. (NYSE:EGO)

Invenomic Capital Management LP trimmed its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 13.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 995,852 shares of the basic materials company’s stock after selling 155,840 shares during the quarter. Invenomic Capital Management LP’s holdings in Eldorado Gold were worth $14,808,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. 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. JPMorgan Chase & Co. grew its position in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after acquiring an additional 85,053 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Eldorado Gold during the 4th quarter worth about $55,000. Barclays PLC grew its holdings in Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after purchasing an additional 27,667 shares during the period. Finally, Swiss National Bank boosted its stake in Eldorado Gold by 0.6% in the 4th quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock valued at $6,000,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EGO. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Scotiabank increased their price target 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Eldorado Gold has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Eldorado Gold Trading Up 0.6 %

NYSE EGO opened at $19.66 on Friday. The business’s 50-day moving average price is $17.40 and its two-hundred day moving average price is $16.13. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.04 billion, a PE ratio of 14.04 and a beta of 0.42. Eldorado Gold Co. has a 12 month low of $13.29 and a 12 month high of $20.65.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $319.83 million. On average, analysts expect that Eldorado Gold Co. will post 1.5 EPS for the current year.

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.