Fore Research & Management LP Invests $237,000 in Eldorado Gold Corporation (EGO) Stock
Fore Research & Management LP acquired a new position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 90,000 shares of the basic materials company’s stock, valued at approximately $237,000.
A number of other institutional investors have also modified their holdings of the business. Karp Capital Management Corp bought a new stake in Eldorado Gold Corporation in the 1st quarter valued at about $116,000. Rehmann Capital Advisory Group acquired a new position in shares of Eldorado Gold Corporation during the 2nd quarter worth approximately $104,000. Aperio Group LLC grew its position in shares of Eldorado Gold Corporation by 28.6% during the 2nd quarter. Aperio Group LLC now owns 43,832 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 9,745 shares in the last quarter. World Asset Management Inc grew its position in shares of Eldorado Gold Corporation by 0.5% during the 1st quarter. World Asset Management Inc now owns 44,473 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 227 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its position in shares of Eldorado Gold Corporation by 43.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 45,641 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 13,889 shares in the last quarter. Institutional investors and hedge funds own 55.07% of the company’s stock.
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Several research analysts have recently commented on EGO shares. Royal Bank Of Canada cut shares of Eldorado Gold Corporation from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $3.75 to $3.50 in a report on Thursday, June 29th. Credit Suisse Group upgraded Eldorado Gold Corporation from an “underperform” rating to a “neutral” rating and set a $2.40 price target for the company in a research note on Sunday, September 24th. CIBC cut Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a research note on Wednesday, June 28th. Scotiabank cut their price target on Eldorado Gold Corporation from $3.25 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 12th. Finally, BidaskClub raised Eldorado Gold Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Eldorado Gold Corporation currently has an average rating of “Hold” and an average price target of $3.91.
Eldorado Gold Corporation (EGO) traded up 0.228% during mid-day trading on Tuesday, hitting $2.195. 2,440,851 shares of the company traded hands. Eldorado Gold Corporation has a one year low of $1.77 and a one year high of $3.91. The firm has a 50 day moving average of $2.09 and a 200 day moving average of $2.76. The firm’s market capitalization is $1.57 billion.
Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The business had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the prior year, the company posted ($0.01) EPS. The business’s revenue for the quarter was down 22.8% compared to the same quarter last year. Equities research analysts expect that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.
Eldorado Gold Corporation Company Profile
Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.
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