Carrhae Capital LLP Boosts Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Carrhae Capital LLP lifted its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,040,730 shares of the basic materials company’s stock after buying an additional 738,233 shares during the quarter. Eldorado Gold comprises about 7.5% of Carrhae Capital LLP’s holdings, making the stock its 3rd largest position. Carrhae Capital LLP’s holdings in Eldorado Gold were worth $89,826,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EGO. Vanguard Group Inc. lifted its stake in Eldorado Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock valued at $117,228,000 after buying an additional 136,594 shares during the period. LPL Financial LLC lifted its position in shares of Eldorado Gold by 100.6% during the 4th quarter. LPL Financial LLC now owns 22,506 shares of the basic materials company’s stock valued at $335,000 after acquiring an additional 11,285 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Eldorado Gold during the 4th quarter valued at $254,000. Sei Investments Co. bought a new position in Eldorado Gold during the fourth quarter worth $1,088,000. Finally, Boston Partners grew its holdings in Eldorado Gold by 3.8% in the fourth quarter. Boston Partners now owns 1,777,646 shares of the basic materials company’s stock worth $26,456,000 after purchasing an additional 64,528 shares during the period. Institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EGO. Scotiabank dropped their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Eldorado Gold Stock Performance

EGO opened at $15.72 on Tuesday. Eldorado Gold Co. has a 1-year low of $13.29 and a 1-year high of $19.06. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 11.23 and a beta of 1.11. The company’s fifty day moving average price is $14.74 and its two-hundred day moving average price is $15.92. 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 posted its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. On average, analysts expect that Eldorado Gold Co. will post 1.5 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.