Acadian Asset Management LLC Invests $912,000 in Eldorado Gold Co. (NYSE:EGO)

Acadian Asset Management LLC acquired a new position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 62,000 shares of the basic materials company’s stock, valued at approximately $912,000.

Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Eldorado Gold by 1.7% during the 1st quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after purchasing an additional 380,991 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Eldorado Gold by 9.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock worth $196,261,000 after acquiring an additional 1,240,732 shares in the last quarter. Vanguard Group Inc. raised its stake in Eldorado Gold by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock worth $95,858,000 after acquiring an additional 38,630 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Eldorado Gold by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock worth $54,517,000 after acquiring an additional 295,282 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in Eldorado Gold during the 1st quarter worth $36,374,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Trading Down 1.3 %

NYSE EGO opened at $17.76 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. The firm has a market cap of $3.64 billion, a PE ratio of 31.16 and a beta of 0.95. Eldorado Gold Co. has a one year low of $8.30 and a one year high of $18.38. The firm’s fifty day moving average is $16.82 and its two-hundred day moving average is $15.41.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The business had revenue of $297.14 million for the quarter. During the same quarter last year, the firm earned $0.09 earnings per share. Analysts expect that Eldorado Gold Co. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on EGO. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. CIBC lifted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of “Hold” and an average price target of $19.38.

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.