Toronto Dominion Bank Grows Stake in Eldorado Gold Co. (NYSE:EGO)

Toronto Dominion Bank boosted its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 84.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,543 shares of the basic materials company’s stock after buying an additional 8,512 shares during the quarter. Toronto Dominion Bank’s holdings in Eldorado Gold were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Eldorado Gold during the third quarter valued at approximately $32,000. 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. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold in the 3rd quarter valued at $36,000. Tobam lifted its holdings in Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 651 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Eldorado Gold during the 2nd quarter worth $74,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank raised 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. TD Securities decreased their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Price Performance

NYSE:EGO opened at $15.98 on Tuesday. Eldorado Gold Co. has a 52 week low of $9.72 and a 52 week high of $19.06. The stock’s fifty day moving average is $16.70 and its two-hundred day moving average is $16.55. The company has a market capitalization of $3.27 billion, a P/E ratio of 11.92 and a beta of 0.93. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period last year, the business earned $0.17 EPS. Equities analysts expect that Eldorado Gold Co. will post 1.42 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.