JPMorgan Chase & Co. Raises Stock Position in Eldorado Gold Co. (NYSE:EGO)

JPMorgan Chase & Co. lifted its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 130.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,107 shares of the basic materials company’s stock after buying an additional 85,053 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Eldorado Gold worth $2,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in Eldorado Gold during the third quarter worth approximately $32,000. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold during the third quarter worth approximately $36,000. The Manufacturers Life Insurance Company lifted its stake in Eldorado Gold by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock valued at $2,499,000 after buying an additional 2,472 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Eldorado Gold by 30.8% in the second quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock valued at $243,000 after acquiring an additional 3,876 shares during the period. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on EGO shares. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities decreased their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.88.

Eldorado Gold Stock Down 0.4 %

EGO stock opened at $14.51 on Tuesday. Eldorado Gold Co. has a one year low of $9.72 and a one year high of $19.06. 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 company has a fifty day moving average of $15.63 and a 200-day moving average of $16.56. The stock has a market capitalization of $2.97 billion, a PE ratio of 10.82 and a beta of 0.94.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, analysts expect that Eldorado Gold Co. will post 1.44 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.