Invenomic Capital Management LP Has $20.01 Million Position in Eldorado Gold Co. (NYSE:EGO)

Invenomic Capital Management LP trimmed its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 30.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,151,692 shares of the basic materials company’s stock after selling 492,863 shares during the period. Invenomic Capital Management LP’s holdings in Eldorado Gold were worth $20,005,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EGO. Allspring Global Investments Holdings LLC acquired a new stake in Eldorado Gold in the 2nd quarter valued at about $2,238,000. Navellier & Associates Inc. acquired a new stake in shares of Eldorado Gold in the third quarter valued at approximately $878,000. Maverick Capital Ltd. bought a new position in shares of Eldorado Gold during the 2nd quarter worth approximately $1,256,000. Equinox Partners Investment Management LLC boosted its stake in shares of Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after acquiring an additional 239,800 shares during the period. Finally, Cetera Investment Advisers raised its stake in Eldorado Gold by 61.0% in the 2nd quarter. Cetera Investment Advisers now owns 73,864 shares of the basic materials company’s stock valued at $1,092,000 after acquiring an additional 27,991 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

EGO stock opened at $15.79 on Tuesday. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 11.78 and a beta of 0.93. 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 50 day simple moving average of $16.99 and a 200 day simple moving average of $16.52. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter last year, the company posted $0.17 earnings per share. Research analysts anticipate that Eldorado Gold Co. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank increased their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, TD Securities decreased their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Eldorado Gold has an average rating of “Hold” and an average target price 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.