Freedom Investment Management Inc. Acquires Shares of 31,926 Eldorado Gold Co. (NYSE:EGO)

Freedom Investment Management Inc. bought a new position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) during the third quarter, Holdings Channel.com reports. The firm bought 31,926 shares of the basic materials company’s stock, valued at approximately $555,000.

Several other institutional investors also recently modified their holdings of the business. Financial Management Professionals Inc. bought a new stake in Eldorado Gold during the third quarter worth $32,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 1,336 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Eldorado Gold during the 3rd quarter worth $36,000. Tobam boosted its holdings 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 during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Eldorado Gold during the second quarter valued at about $74,000. 69.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EGO. Royal Bank of Canada lifted their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. TD Securities lowered their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Scotiabank increased 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Trading Up 0.8 %

Shares of EGO stock opened at $16.00 on Friday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.94 and a beta of 0.95. The company’s fifty day simple moving average is $17.02 and its two-hundred day simple moving average is $16.49. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $19.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, analysts anticipate that Eldorado Gold Co. will post 1.41 earnings per share 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.