National Bank of Canada FI Buys 118,760 Shares of Eldorado Gold Co. (NYSE:EGO)

National Bank of Canada FI lifted its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 638,338 shares of the basic materials company’s stock after acquiring an additional 118,760 shares during the quarter. National Bank of Canada FI owned 0.31% of Eldorado Gold worth $11,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jacobsen Capital Management purchased a new stake in Eldorado Gold during the 2nd quarter valued at $855,000. U S Global Investors Inc. lifted its holdings in Eldorado Gold by 27.0% in the second quarter. U S Global Investors Inc. now owns 261,668 shares of the basic materials company’s stock valued at $4,162,000 after acquiring an additional 55,595 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Eldorado Gold in the second quarter worth about $2,238,000. Jessup Wealth Management Inc bought a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $6,910,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Eldorado Gold by 4.2% during the 2nd 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 during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Securities dropped their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. 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. StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Scotiabank upped their price target on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock opened at $16.66 on Wednesday. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. Eldorado Gold Co. has a 52 week low of $9.72 and a 52 week high of $19.06. The stock’s 50-day simple moving average is $16.77 and its 200-day simple moving average is $16.53. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 12.43 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data 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 net margin of 23.16% and a return on equity of 6.67%. The business had revenue of $331.76 million during the quarter. During the same period last year, the business earned $0.17 earnings per share. As a group, analysts expect that Eldorado Gold Co. will post 1.41 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.