Independent Advisor Alliance Purchases Shares of 31,310 Eldorado Gold Co. (NYSE:EGO)

Independent Advisor Alliance acquired a new stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,310 shares of the basic materials company’s stock, valued at approximately $544,000.

A number of other institutional investors and hedge funds have also made changes to their positions in EGO. Navellier & Associates Inc. purchased a new position in Eldorado Gold in the third quarter worth approximately $878,000. Jennison Associates LLC lifted its position in shares of Eldorado Gold by 65.0% during the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after purchasing an additional 2,376,241 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Eldorado Gold during the third quarter worth $36,000. Tacita Capital Inc purchased a new position in Eldorado Gold in the third quarter valued at $467,000. Finally, Versor Investments LP raised its stake in Eldorado Gold by 7.0% in the third quarter. Versor Investments LP now owns 60,014 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 3,900 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $15.88 on Thursday. The stock has a market cap of $3.25 billion, a P/E ratio of 11.85 and a beta of 0.95. Eldorado Gold Co. has a twelve month low of $9.72 and a twelve month high of $19.06. The stock has a 50 day moving average of $17.08 and a two-hundred day moving average of $16.50. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The firm had revenue of $331.76 million during the quarter. During the same quarter last year, the company earned $0.17 EPS. On average, research analysts forecast that Eldorado Gold Co. will post 1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EGO. Royal Bank of Canada upped their price objective on 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 shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities reduced 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. Finally, Scotiabank increased their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Eldorado Gold has a consensus rating of “Hold” and an average price target of $20.88.

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.