Alliancebernstein L.P. Buys 1,500 Shares of Eldorado Gold Co. (NYSE:EGO)

Alliancebernstein L.P. boosted its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 33,360 shares of the basic materials company’s stock after buying an additional 1,500 shares during the period. Alliancebernstein L.P.’s holdings in Eldorado Gold were worth $496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd grew its stake in shares of Eldorado Gold by 648.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock worth $39,408,000 after acquiring an additional 2,296,018 shares in the last quarter. Jennison Associates LLC grew its position in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. Carrhae Capital LLP increased its stake in Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock valued at $89,826,000 after buying an additional 738,233 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Eldorado Gold in the 4th quarter valued at about $6,973,000. Finally, Heartland Advisors Inc. purchased a new position in shares of Eldorado Gold in the 4th quarter worth approximately $4,709,000. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Performance

NYSE:EGO opened at $19.80 on Monday. Eldorado Gold Co. has a 1-year low of $13.29 and a 1-year high of $20.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The business has a 50 day moving average of $15.85 and a 200 day moving average of $15.95. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 14.14 and a beta of 0.81.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. On average, sell-side analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EGO. National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank boosted their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Royal Bank of Canada raised their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price of $20.38.

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.