Invenomic Capital Management LP Acquires 380,982 Shares of Eldorado Gold Co. (NYSE:EGO)

Invenomic Capital Management LP increased its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 28.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,738,044 shares of the basic materials company’s stock after buying an additional 380,982 shares during the period. Eldorado Gold accounts for about 1.3% of Invenomic Capital Management LP’s portfolio, making the stock its 25th largest holding. Invenomic Capital Management LP owned 0.85% of Eldorado Gold worth $24,454,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EGO. Triasima Portfolio Management inc. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at approximately $18,548,000. Dimensional Fund Advisors LP raised its stake in shares of Eldorado Gold by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after acquiring an additional 295,282 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Eldorado Gold by 321.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,768,800 shares of the basic materials company’s stock valued at $22,971,000 after purchasing an additional 1,348,900 shares during the period. Boston Partners bought a new position in Eldorado Gold during the 4th quarter worth $27,167,000. Finally, Vanguard Group Inc. increased its stake in shares of Eldorado Gold by 2.0% in the third quarter. Vanguard Group Inc. now owns 6,694,600 shares of the basic materials company’s stock valued at $59,649,000 after buying an additional 128,430 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada raised Eldorado Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $14.00 to $20.00 in a research report on Wednesday, May 29th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Scotiabank raised their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Finally, CIBC upped their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Eldorado Gold has an average rating of “Hold” and a consensus target price of $16.50.

Eldorado Gold Stock Up 0.4 %

EGO stock traded up $0.06 during midday trading on Tuesday, hitting $16.62. The company’s stock had a trading volume of 827,861 shares, compared to its average volume of 1,528,592. The company has a market cap of $3.40 billion, a PE ratio of 29.06, a P/E/G ratio of 0.26 and a beta of 0.92. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20. Eldorado Gold Co. has a 12 month low of $8.30 and a 12 month high of $17.28. The firm’s 50-day moving average is $15.69 and its 200-day moving average is $14.13.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data 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 company had revenue of $297.14 million for the quarter. During the same period in the previous year, the business posted $0.09 EPS. On average, equities research analysts forecast that Eldorado Gold Co. will post 1.23 earnings per share for the current fiscal year.

Eldorado Gold 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.