Eldorado Gold Co. (NYSE:EGO) is Donald Smith & CO. Inc.’s 2nd Largest Position

Donald Smith & CO. Inc. lowered its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,181,100 shares of the basic materials company’s stock after selling 1,767,816 shares during the quarter. Eldorado Gold makes up approximately 4.6% of Donald Smith & CO. Inc.’s portfolio, making the stock its 2nd biggest position. Donald Smith & CO. Inc. owned about 5.95% of Eldorado Gold worth $180,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Eldorado Gold by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after purchasing an additional 136,900 shares during the period. Headlands Technologies LLC purchased a new stake in Eldorado Gold in the second quarter worth $97,000. Custom Index Systems LLC purchased a new stake in Eldorado Gold in the second quarter worth $330,000. Acadian Asset Management LLC purchased a new stake in Eldorado Gold in the second quarter worth $912,000. Finally, TD Asset Management Inc lifted its stake in Eldorado Gold by 1.0% in the second quarter. TD Asset Management Inc now owns 544,385 shares of the basic materials company’s stock worth $8,040,000 after acquiring an additional 5,393 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EGO shares. Scotiabank raised their price target on 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 Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. CIBC increased their price objective on Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price objective on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.38.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $17.99 on Monday. Eldorado Gold Co. has a 1-year low of $8.30 and a 1-year high of $18.38. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The business has a fifty day moving average price of $16.78 and a 200-day moving average price of $15.35. The company has a market capitalization of $3.68 billion, a PE ratio of 31.56 and a beta of 0.95.

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 for the quarter, beating the consensus estimate of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The firm had revenue of $297.14 million during the quarter. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities analysts expect that Eldorado Gold Co. will post 1.35 EPS 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.