Net Worth Advisory Group Buys Shares of 11,370 Eldorado Gold Co. (NYSE:EGO)

Net Worth Advisory Group purchased a new position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,370 shares of the basic materials company’s stock, valued at approximately $198,000.

A number of other institutional investors also recently made changes to their positions in EGO. Point72 DIFC Ltd bought a new stake in Eldorado Gold during the second quarter worth approximately $74,000. Tobam raised its stake in shares of Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after buying an additional 651 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Eldorado Gold in the second quarter valued at $97,000. Virtu Financial LLC bought a new position in Eldorado Gold during the first quarter valued at about $165,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Eldorado Gold during the second quarter valued at about $191,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EGO shares. Royal Bank of Canada upped their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, CIBC increased their price objective on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.38.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $18.51 on Tuesday. Eldorado Gold Co. has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The firm’s 50 day simple moving average is $17.38 and its 200-day simple moving average is $16.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The company has a market cap of $3.79 billion, a P/E ratio of 32.44 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $297.14 million for the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, equities research analysts predict that Eldorado Gold Co. will post 1.41 EPS for the current 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.