Helikon Investments Ltd Has $247.31 Million Stock Position in Eldorado Gold Co. (NYSE:EGO)

Helikon Investments Ltd reduced its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,631,533 shares of the basic materials company’s stock after selling 2,239,685 shares during the quarter. Eldorado Gold comprises approximately 25.7% of Helikon Investments Ltd’s holdings, making the stock its largest position. Helikon Investments Ltd owned about 0.08% of Eldorado Gold worth $247,311,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings 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 buying an additional 1,336 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Eldorado Gold during the 3rd quarter valued at approximately $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Eldorado Gold in the third quarter valued at $36,000. The Manufacturers Life Insurance Company increased its position in Eldorado Gold by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in Eldorado Gold by 30.8% during the second quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 3,876 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EGO shares. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Scotiabank dropped their price target on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, TD Securities decreased their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.50.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $15.53 on Monday. 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. The firm has a 50-day moving average price of $15.61 and a 200-day moving average price of $16.53. The firm has a market capitalization of $3.18 billion, a PE ratio of 11.59 and a beta of 0.94.

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, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $331.76 million during 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 business earned $0.17 EPS. As a group, equities research analysts forecast that Eldorado Gold Co. will post 1.49 EPS for the current year.

Eldorado Gold Company 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.