Carrhae Capital LLP Has $89.83 Million Stake in Eldorado Gold Co. (NYSE:EGO)

Carrhae Capital LLP raised its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,040,730 shares of the basic materials company’s stock after purchasing an additional 738,233 shares during the quarter. Eldorado Gold accounts for approximately 7.5% of Carrhae Capital LLP’s investment portfolio, making the stock its 3rd biggest position. Carrhae Capital LLP owned about 2.95% of Eldorado Gold worth $89,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jennison Associates LLC boosted its stake in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Eldorado Gold by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock worth $2,885,000 after acquiring an additional 94,040 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after purchasing an additional 85,053 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Eldorado Gold by 22.9% during the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after purchasing an additional 118,760 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Eldorado Gold during the 4th quarter worth approximately $55,000. Institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGO. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Scotiabank cut their price objective on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Stock Up 0.5 %

NYSE:EGO opened at $15.72 on Tuesday. Eldorado Gold Co. has a one year low of $13.29 and a one 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. The company has a market cap of $3.22 billion, a PE ratio of 11.23 and a beta of 1.11. The firm’s 50 day simple moving average is $14.74 and its 200 day simple moving average is $15.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The company had revenue of $435.70 million for 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, research analysts anticipate that Eldorado Gold Co. will post 1.5 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.