The Manufacturers Life Insurance Company Grows Stock Position in Eldorado Gold Co. (NYSE:EGO)

The Manufacturers Life Insurance Company boosted its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 29.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,812 shares of the basic materials company’s stock after acquiring an additional 76,701 shares during the quarter. The Manufacturers Life Insurance Company owned 0.17% of Eldorado Gold worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of EGO. TD Waterhouse Canada Inc. boosted its stake in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 682 shares during the period. SBI Securities Co. Ltd. bought a new stake in Eldorado Gold during the 4th quarter valued at $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Eldorado Gold during the 4th quarter valued at $113,000. Tradition Wealth Management LLC bought a new stake in Eldorado Gold in the 4th quarter worth $153,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Eldorado Gold in the fourth quarter valued at about $183,000. 69.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EGO shares. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 10th. Royal Bank of Canada increased their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. National Bankshares reissued an “outperform” rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Canaccord Genuity Group dropped their price target on Eldorado Gold from $29.00 to $27.00 and set a “hold” rating for the company in a research note on Monday. Finally, Scotiabank boosted their price objective on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Eldorado Gold Trading Down 2.1 %

EGO opened at $19.97 on Thursday. The stock has a market cap of $4.10 billion, a PE ratio of 14.27 and a beta of 0.42. The business has a 50 day moving average of $17.16 and a 200-day moving average of $16.13. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $20.65. 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 (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $341.59 million for the quarter, compared to the consensus estimate of $319.83 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. Equities research analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal 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.