Eldorado Gold Corporation $EGO Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC trimmed its stake in Eldorado Gold by 1.2% in Q4, selling 95,098 shares and leaving it with 8,077,905 shares (about 4.07% of the company) valued at roughly $290.16 million.
• Eldorado reported Q4 EPS of $0.63, missing the $0.64 consensus by $0.01, while revenue beat expectations at $575.14 million versus $500.42 million estimated.
• Analyst sentiment is mixed — the stock carries a consensus rating of Hold with a $42 price target after downgrades from RBC, CIBC and TD Cowen, though Weiss and BMO maintained more bullish views.

Jennison Associates LLC reduced its stake in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,077,905 shares of the basic materials company's stock after selling 95,098 shares during the period. Jennison Associates LLC owned about 4.07% of Eldorado Gold worth $290,158,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Eldorado Gold during the 2nd quarter worth $32,000. Aventura Private Wealth LLC acquired a new position in Eldorado Gold during the 4th quarter worth $36,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold during the 4th quarter worth $36,000. Wexford Capital LP acquired a new position in shares of Eldorado Gold in the 3rd quarter valued at about $37,000. Finally, State of Wyoming acquired a new position in shares of Eldorado Gold in the 2nd quarter valued at about $58,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Trading Up 1.9%

Shares of NYSE:EGO opened at $30.19 on Thursday. Eldorado Gold Corporation has a fifty-two week low of $17.18 and a fifty-two week high of $51.16. The company has a market cap of $6.00 billion, a PE ratio of 12.14, a P/E/G ratio of 0.15 and a beta of 0.66. The company's 50-day moving average price is $36.95 and its 200 day moving average price is $35.51. The company has a quick ratio of 1.46, a current ratio of 1.83 and a debt-to-equity ratio of 0.29.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%.The company had revenue of $575.14 million for the quarter, compared to the consensus estimate of $500.42 million. Sell-side analysts anticipate that Eldorado Gold Corporation will post 4.3 earnings per share for the current year.

Wall Street Analyst Weigh In

EGO has been the subject of several research reports. Royal Bank Of Canada lowered shares of Eldorado Gold from an "outperform" rating to a "sector perform" rating and set a $48.00 price target for the company. in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered shares of Eldorado Gold from a "sector outperform" rating to a "neutral" rating and set a $54.00 price target for the company. in a report on Friday, February 20th. TD Cowen decreased their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating for the company in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Eldorado Gold in a report on Monday, April 20th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $42.00.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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