Spark Investment Management LLC acquired a new stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 503,000 shares of the basic materials company’s stock, valued at approximately $1,334,000. Spark Investment Management LLC owned 0.07% of Eldorado Gold Corporation at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EGO. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Eldorado Gold Corporation by 5.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 278,872 shares of the basic materials company’s stock valued at $951,000 after buying an additional 14,474 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Eldorado Gold Corporation by 2.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,805,480 shares of the basic materials company’s stock valued at $9,596,000 after buying an additional 54,966 shares during the last quarter. ING Groep NV increased its position in shares of Eldorado Gold Corporation by 1.3% in the first quarter. ING Groep NV now owns 52,917 shares of the basic materials company’s stock valued at $180,000 after buying an additional 701 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Eldorado Gold Corporation by 52.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,594,638 shares of the basic materials company’s stock valued at $5,438,000 after buying an additional 546,031 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in shares of Eldorado Gold Corporation by 5.3% in the first quarter. Tocqueville Asset Management L.P. now owns 14,574,445 shares of the basic materials company’s stock valued at $49,710,000 after buying an additional 728,000 shares during the last quarter. 50.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eldorado Gold Corporation (NYSE EGO) opened at 1.90 on Wednesday. The firm’s market cap is $1.36 billion. Eldorado Gold Corporation has a 52-week low of $1.77 and a 52-week high of $4.38. The stock has a 50 day moving average of $2.48 and a 200 day moving average of $3.14.

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 firm had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s revenue was down 22.8% compared to the same quarter last year. Equities analysts predict that Eldorado Gold Corporation will post $0.04 EPS for the current fiscal year.

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EGO has been the topic of a number of recent analyst reports. TD Securities reaffirmed a “buy” rating on shares of Eldorado Gold Corporation in a research note on Tuesday, May 16th. Scotiabank reaffirmed an “outperform” rating and set a $5.75 price target on shares of Eldorado Gold Corporation in a research note on Friday, April 28th. ValuEngine downgraded shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Eldorado Gold Corporation in a research note on Tuesday, June 6th. Finally, CIBC downgraded shares of Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Eldorado Gold Corporation presently has an average rating of “Hold” and a consensus target price of $4.72.

About Eldorado Gold Corporation

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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Institutional Ownership by Quarter for Eldorado Gold Corporation (NYSE:EGO)

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