Sheets Smith Wealth Management Acquires Shares of 31,887 Eldorado Gold Co. (NYSE:EGO)

Sheets Smith Wealth Management bought a new position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 31,887 shares of the basic materials company’s stock, valued at approximately $414,000.

Other hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd acquired a new stake in Eldorado Gold during the fourth quarter worth about $32,473,000. Donald Smith & CO. Inc. lifted its holdings in shares of Eldorado Gold by 20.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock worth $164,825,000 after purchasing an additional 2,136,824 shares during the last quarter. Van ECK Associates Corp boosted its position in Eldorado Gold by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 21,446,611 shares of the basic materials company’s stock valued at $191,091,000 after purchasing an additional 2,094,276 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Eldorado Gold during the 4th quarter valued at approximately $24,273,000. Finally, Triasima Portfolio Management inc. acquired a new stake in Eldorado Gold in the fourth quarter worth $18,548,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

EGO opened at $14.71 on Tuesday. The business has a 50 day moving average price of $13.73 and a two-hundred day moving average price of $12.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 4.90 and a beta of 1.12. Eldorado Gold Co. has a 1-year low of $8.30 and a 1-year high of $16.07.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $257.97 million during the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same quarter last year, the company earned $0.11 EPS. Research analysts predict that Eldorado Gold Co. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Canada downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Saturday. Finally, TD Securities cut their target price on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Eldorado Gold has a consensus rating of “Hold” and an average price target of $13.30.

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.