Navellier & Associates Inc. Acquires Shares of 50,555 Eldorado Gold Co. (NYSE:EGO)

Navellier & Associates Inc. bought a new stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,555 shares of the basic materials company’s stock, valued at approximately $878,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new stake in shares of Eldorado Gold during the third quarter valued at approximately $32,000. Blue Trust Inc. increased its position in Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Eldorado Gold in the 3rd quarter worth approximately $36,000. Tobam boosted its stake 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 in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Eldorado Gold in the second quarter worth approximately $74,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $16.66 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 12.43 and a beta of 0.95. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $19.06. The company’s fifty day moving average price is $17.18 and its 200 day moving average price is $16.46. 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 announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities research analysts anticipate that Eldorado Gold Co. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EGO. Royal Bank of Canada upped their price objective on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. TD Securities reduced their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Scotiabank raised their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Finally, StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Eldorado Gold has an average rating of “Hold” and an average price target of $20.88.

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.