Millennium Management LLC Trims Stock Position in Eldorado Gold Co. (NYSE:EGO)

Millennium Management LLC lessened its holdings in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 80.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,663 shares of the basic materials company's stock after selling 179,180 shares during the period. Millennium Management LLC's holdings in Eldorado Gold were worth $664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Donald Smith & CO. Inc. increased its position in Eldorado Gold by 2.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock worth $179,942,000 after purchasing an additional 309,599 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Eldorado Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock valued at $117,228,000 after purchasing an additional 136,594 shares during the period. Carrhae Capital LLP boosted its stake in shares of Eldorado Gold by 13.9% in the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock valued at $89,826,000 after purchasing an additional 738,233 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Eldorado Gold by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,971,617 shares of the basic materials company's stock valued at $73,927,000 after purchasing an additional 74,389 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its stake in shares of Eldorado Gold by 648.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock valued at $39,408,000 after purchasing an additional 2,296,018 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Canaccord Genuity Group reduced their price objective 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. National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday, April 23rd. Finally, Scotiabank increased their price objective on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.70.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $21.15 on Friday. The firm's 50 day simple moving average is $18.97 and its 200-day simple moving average is $16.56. The company has a market cap of $4.35 billion, a P/E ratio of 15.11 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold Co. has a fifty-two week low of $13.29 and a fifty-two week high of $21.79.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The company had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. As a group, equities research analysts predict that Eldorado Gold Co. 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.

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