Northwest & Ethical Investments L.P. Sells 50,402 Shares of Eldorado Gold Corporation $EGO

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Eldorado Gold Corporation by 70.8% during the first quarter, ending up with 20,815 shares valued at approximately $350,000.
• Analysts maintain a generally positive outlook for Eldorado Gold, with a current average rating of "Moderate Buy" and a target price of $23.60.
• Eldorado Gold reported a missed earnings estimate for the last quarter, with an EPS of $0.44 against a consensus of $0.51, although their revenue of $459.53 million exceeded expectations.

Northwest & Ethical Investments L.P. reduced its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 70.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,815 shares of the basic materials company's stock after selling 50,402 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Eldorado Gold were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its position in Eldorado Gold by 26.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock worth $48,000 after purchasing an additional 682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eldorado Gold by 0.7% in 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 purchasing an additional 1,174 shares during the period. LaSalle St. Investment Advisors LLC lifted its position in Eldorado Gold by 7.0% in the first quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company's stock worth $329,000 after purchasing an additional 1,275 shares during the period. Russell Investments Group Ltd. lifted its position in Eldorado Gold by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company's stock worth $517,000 after purchasing an additional 1,580 shares during the period. Finally, Continuum Advisory LLC lifted its position in Eldorado Gold by 335.3% in the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock worth $42,000 after purchasing an additional 1,945 shares during the period. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Price Performance

Shares of Eldorado Gold stock traded down $0.13 during trading on Monday, reaching $23.36. The company's stock had a trading volume of 683,367 shares, compared to its average volume of 1,672,675. The stock has a 50-day moving average price of $21.24 and a two-hundred day moving average price of $18.82. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $23.74. The stock has a market capitalization of $4.75 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.37 and a beta of 0.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The business had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million. As a group, sell-side analysts anticipate that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Canaccord Genuity Group cut their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wall Street Zen cut Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

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.