Cambridge Investment Research Advisors Inc. Trims Stock Position in Eldorado Gold Corporation (NYSE:EGO)

Cambridge Investment Research Advisors Inc. cut its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 75.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,428 shares of the basic materials company's stock after selling 34,283 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Eldorado Gold were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in EGO. Wellington Management Group LLP purchased a new position in Eldorado Gold during the fourth quarter worth approximately $6,973,000. PKO Investment Management Joint Stock Co purchased a new position in Eldorado Gold during the fourth quarter worth approximately $1,280,000. Mackenzie Financial Corp lifted its position in Eldorado Gold by 44.9% during the fourth quarter. Mackenzie Financial Corp now owns 747,250 shares of the basic materials company's stock worth $11,102,000 after buying an additional 231,515 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Eldorado Gold during the fourth quarter worth approximately $504,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eldorado Gold by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company's stock worth $2,664,000 after buying an additional 1,174 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EGO. CIBC reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday. Canaccord Genuity Group reduced their target price on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Wall Street Zen upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Royal Bank Of Canada boosted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Eldorado Gold Stock Down 1.5%

Shares of NYSE:EGO traded down $0.30 on Friday, hitting $19.84. 561,719 shares of the company's stock were exchanged, compared to its average volume of 1,963,727. The firm's 50-day moving average is $20.18 and its 200 day moving average is $17.52. The company has a market capitalization of $4.04 billion, a PE ratio of 12.47, a P/E/G ratio of 0.35 and a beta of 0.46. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $21.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced 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 firm had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. Sell-side analysts predict that Eldorado Gold Corporation 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.