Bank of America Corp DE Has $9.97 Million Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Bank of America Corp DE cut its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 670,183 shares of the basic materials company's stock after selling 263,327 shares during the quarter. Bank of America Corp DE owned about 0.33% of Eldorado Gold worth $9,966,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EGO. BNP Paribas Financial Markets raised its stake in Eldorado Gold by 231.7% during the 4th quarter. BNP Paribas Financial Markets now owns 550,876 shares of the basic materials company's stock valued at $8,192,000 after purchasing an additional 384,793 shares during the last quarter. AXA S.A. raised its position in shares of Eldorado Gold by 243.2% during the fourth quarter. AXA S.A. now owns 247,921 shares of the basic materials company's stock valued at $3,687,000 after buying an additional 175,689 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Eldorado Gold by 29.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 340,812 shares of the basic materials company's stock valued at $5,070,000 after buying an additional 76,701 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Eldorado Gold in the fourth quarter valued at about $1,611,000. Finally, Coldstream Capital Management Inc. acquired a new stake in Eldorado Gold during the fourth quarter worth about $302,000. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Trading Down 0.5%

Eldorado Gold stock traded down $0.10 during mid-day trading on Thursday, hitting $20.00. The stock had a trading volume of 992,834 shares, compared to its average volume of 1,636,664. The stock has a 50-day simple moving average of $18.48 and a two-hundred day simple moving average of $16.33. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.11 billion, a PE ratio of 14.28 and a beta of 0.42. Eldorado Gold Co. has a 12 month low of $13.29 and a 12 month high of $20.65.

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

Analysts Set New Price Targets

EGO has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Scotiabank raised their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Finally, National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Eldorado Gold has a consensus rating of "Moderate Buy" and an average price target of $21.70.

About Eldorado Gold

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.