Donald Smith & CO. Inc. Acquires 309,599 Shares of Eldorado Gold Co. (NYSE:EGO)

Donald Smith & CO. Inc. increased its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,100,980 shares of the basic materials company’s stock after purchasing an additional 309,599 shares during the quarter. Eldorado Gold makes up 4.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 4th largest holding. Donald Smith & CO. Inc. owned approximately 5.90% of Eldorado Gold worth $179,942,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ANTIPODES PARTNERS Ltd lifted its position in shares of Eldorado Gold by 648.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock worth $39,408,000 after purchasing an additional 2,296,018 shares during the last quarter. Jennison Associates LLC increased its position in Eldorado Gold by 17.5% in the 4th 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 period. Carrhae Capital LLP lifted its holdings in shares of Eldorado Gold by 13.9% during the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after buying an additional 738,233 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $6,973,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Eldorado Gold in the fourth quarter worth $4,709,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EGO has been the subject of a number of research reports. Scotiabank reduced their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Price Performance

NYSE:EGO opened at $17.92 on Thursday. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.80 and a beta of 0.81. The company has a 50-day moving average of $15.04 and a 200-day moving average of $15.93. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week 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.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. As a group, equities research analysts anticipate that Eldorado Gold Co. will post 1.5 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.