Short Interest in Eldorado Gold Co. (NYSE:EGO) Decreases By 28.4%

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,360,000 shares, a drop of 28.4% from the March 31st total of 6,090,000 shares. Based on an average daily trading volume, of 2,160,000 shares, the short-interest ratio is currently 2.0 days. Approximately 2.1% of the company's shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EGO. Jennison Associates LLC lifted its position in Eldorado Gold by 2.2% in the 1st quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company's stock valued at $121,874,000 after acquiring an additional 155,619 shares in the last quarter. Carrhae Capital LLP boosted its position in shares of Eldorado Gold by 10.7% during the first quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after buying an additional 648,574 shares during the period. SBI Securities Co. Ltd. raised its position in Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after buying an additional 5,294 shares during the last quarter. Cerity Partners LLC lifted its stake in Eldorado Gold by 63.1% in the 1st quarter. Cerity Partners LLC now owns 31,281 shares of the basic materials company's stock valued at $526,000 after acquiring an additional 12,101 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in Eldorado Gold during the 1st quarter worth approximately $250,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

EGO has been the topic of several research reports. Scotiabank upped their price target on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Canaccord Genuity Group dropped their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a report on Thursday, April 10th. Finally, Royal Bank of Canada upped their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold presently has a consensus rating of "Moderate Buy" and an average price target of $21.70.

Eldorado Gold Trading Up 2.8 %

Shares of NYSE EGO traded up $0.51 during midday trading on Monday, reaching $18.81. 581,270 shares of the stock were exchanged, compared to its average volume of 1,599,697. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $20.65. The business has a 50-day simple moving average of $16.81 and a two-hundred day simple moving average of $16.07. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 13.47 and a beta of 0.42.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). The business had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, equities research analysts expect that Eldorado Gold will post 1.5 EPS 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.