Mackenzie Financial Corp Sells 252,887 Shares of Eldorado Gold Corporation (NYSE:EGO)

Mackenzie Financial Corp lessened its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 33.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,363 shares of the basic materials company's stock after selling 252,887 shares during the quarter. Mackenzie Financial Corp owned about 0.24% of Eldorado Gold worth $8,310,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Continuum Advisory LLC lifted its stake 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 valued at $42,000 after buying an additional 1,945 shares during the period. TD Waterhouse Canada Inc. lifted its stake 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 valued at $48,000 after buying an additional 682 shares during the period. SBI Securities Co. Ltd. lifted its stake in Eldorado Gold by 142.6% in the first 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 period. Tradition Wealth Management LLC acquired a new position in Eldorado Gold in the fourth quarter valued at about $153,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Eldorado Gold in the first quarter valued at about $186,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Eldorado Gold Stock Up 2.6%

Shares of NYSE:EGO traded up $0.53 during mid-day trading on Friday, reaching $21.03. 3,707,012 shares of the stock were exchanged, compared to its average volume of 1,488,193. The company has a quick ratio of 2.53, a current ratio of 3.12 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.29 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.34 and a beta of 0.37. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $21.82. The stock's 50 day simple moving average is $20.61 and its 200-day simple moving average is $17.90.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data 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). The firm had revenue of $459.53 million for the quarter, compared to the consensus estimate of $401.85 million. Eldorado Gold had a return on equity of 8.90% and a net margin of 26.07%. As a group, equities research analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EGO shares. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Royal Bank Of Canada raised their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Canaccord Genuity Group dropped their price target 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. CIBC reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, July 15th. Finally, Scotiabank raised their price target on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Eldorado Gold currently has an average rating of "Moderate Buy" and an average target price of $23.60.

Eldorado Gold 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.