Helikon Investments Ltd Has $389.39 Million Stock Position in Eldorado Gold Co. (NYSE:EGO)

Helikon Investments Ltd reduced its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 27,675,388 shares of the basic materials company’s stock after selling 467,345 shares during the period. Eldorado Gold accounts for 33.6% of Helikon Investments Ltd’s portfolio, making the stock its biggest position. Helikon Investments Ltd owned about 0.14% of Eldorado Gold worth $389,393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in EGO. Parkside Financial Bank & Trust purchased a new stake in Eldorado Gold in the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. acquired a new position in Eldorado Gold in the 4th quarter valued at $37,000. Tobam acquired a new position in Eldorado Gold in the 4th quarter valued at $68,000. Bank of Nova Scotia grew its holdings in Eldorado Gold by 10.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after buying an additional 1,343 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Eldorado Gold in the 4th quarter valued at $134,000. 69.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EGO shares. National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Scotiabank boosted their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $20.00 in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Eldorado Gold has a consensus rating of “Hold” and an average target price of $15.60.

Eldorado Gold Stock Performance

EGO traded up $0.14 during trading hours on Tuesday, hitting $14.82. 891,255 shares of the stock were exchanged, compared to its average volume of 1,578,941. The stock has a 50-day simple moving average of $15.20 and a 200-day simple moving average of $13.65. Eldorado Gold Co. has a 12 month low of $8.30 and a 12 month high of $16.69. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 0.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The company had revenue of $257.97 million for the quarter. During the same quarter in the previous year, the business posted $0.11 earnings per share. Analysts anticipate that Eldorado Gold Co. will post 1.09 earnings per share 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.