Mudita Advisors LLP Invests $1.96 Million in Eldorado Gold Co. (NYSE:EGO)

Mudita Advisors LLP purchased a new position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 112,600 shares of the basic materials company’s stock, valued at approximately $1,956,000. Eldorado Gold comprises about 1.1% of Mudita Advisors LLP’s portfolio, making the stock its 15th biggest holding. Mudita Advisors LLP owned approximately 0.05% of Eldorado Gold at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EGO. CANADA LIFE ASSURANCE Co grew its position in shares of Eldorado Gold by 130.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock valued at $890,000 after purchasing an additional 35,820 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Eldorado Gold in the second quarter valued at $2,238,000. Navellier & Associates Inc. purchased a new stake in shares of Eldorado Gold in the third quarter valued at $878,000. Maverick Capital Ltd. purchased a new stake in shares of Eldorado Gold in the second quarter valued at $1,256,000. Finally, Equinox Partners Investment Management LLC grew its position in shares of Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after purchasing an additional 239,800 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of NYSE EGO opened at $15.70 on Wednesday. Eldorado Gold Co. has a 1-year low of $9.72 and a 1-year high of $19.06. The business has a 50-day moving average of $17.11 and a 200-day moving average of $16.50. 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 capitalization of $3.22 billion, a price-to-earnings ratio of 11.72 and a beta of 0.95.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 during the quarter. During the same period in the previous year, the company earned $0.17 EPS. On average, equities analysts anticipate that Eldorado Gold Co. will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EGO shares. Royal Bank of Canada lifted their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. TD Securities lowered their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Scotiabank boosted their price target on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Five equities research 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 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.