Harvest Portfolios Group Inc. Lowers Holdings in Eldorado Gold Co. (NYSE:EGO)

Harvest Portfolios Group Inc. trimmed its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,730 shares of the basic materials company’s stock after selling 1,755 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Eldorado Gold were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. boosted its stake in Eldorado Gold by 9.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock valued at $196,261,000 after purchasing an additional 1,240,732 shares during the last quarter. Tidal Investments LLC bought a new stake in Eldorado Gold in the 1st quarter worth about $11,431,000. Commonwealth Equity Services LLC purchased a new position in Eldorado Gold in the 2nd quarter worth about $6,992,000. Jessup Wealth Management Inc bought a new position in Eldorado Gold during the 2nd quarter valued at about $6,910,000. Finally, Invenomic Capital Management LP boosted its holdings in shares of Eldorado Gold by 28.1% during the 1st quarter. Invenomic Capital Management LP now owns 1,738,044 shares of the basic materials company’s stock valued at $24,454,000 after acquiring an additional 380,982 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Price Performance

NYSE EGO opened at $16.20 on Thursday. The business’s fifty day moving average is $17.37 and its 200 day moving average is $16.37. Eldorado Gold Co. has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a market capitalization of $3.32 billion, a PE ratio of 12.09 and a beta of 0.95.

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 analysts’ consensus estimates of $0.33 by $0.02. The firm 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 last year, the company earned $0.17 earnings per share. Sell-side analysts predict that Eldorado Gold Co. will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank raised 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. TD Securities reduced their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday. Finally, CIBC increased their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.88.

About Eldorado Gold

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.