Eldorado Gold Co. (NYSE:EGO) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 55.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,111 shares of the basic materials company’s stock after acquiring an additional 94,676 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Eldorado Gold were worth $4,592,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on EGO. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities decreased 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 report on Monday, November 4th. Royal Bank of Canada lifted their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank boosted their price target on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Five investment 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 presently has an average rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $15.84 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 11.82 and a beta of 0.93. Eldorado Gold Co. has a one year low of $9.72 and a one year high of $19.06. The company’s 50-day simple moving average is $16.80 and its 200-day simple moving average is $16.51. 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 issued its earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million during the quarter. During the same quarter in the previous year, the business posted $0.17 EPS. Equities analysts anticipate 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.