Sanctuary Advisors LLC Raises Position in Eldorado Gold Co. (NYSE:EGO)

Sanctuary Advisors LLC raised its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 331.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,556 shares of the basic materials company’s stock after acquiring an additional 106,438 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.07% of Eldorado Gold worth $2,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Eldorado Gold in the 2nd quarter worth about $2,238,000. Jessup Wealth Management Inc purchased a new stake in Eldorado Gold in the second quarter worth about $6,910,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Eldorado Gold by 4.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 1,858 shares in the last quarter. Tobam lifted its holdings in shares of Eldorado Gold by 14.8% during the second quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 651 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter worth approximately $6,992,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

EGO has been the subject of a number of analyst reports. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, TD Securities lowered their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Stock Performance

EGO stock opened at $15.17 on Thursday. The stock has a market capitalization of $3.11 billion, a PE ratio of 11.32 and a beta of 0.93. The stock’s 50 day simple moving average is $16.65 and its 200 day simple moving average is $16.54. Eldorado Gold Co. has a 12-month low of $9.72 and a 12-month high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The firm had revenue of $331.76 million for the quarter. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, research analysts forecast that Eldorado Gold Co. will post 1.42 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.