Montrusco Bolton Investments Inc. Sells 195,782 Shares of Eldorado Gold Corporation (NYSE:EGO)

Montrusco Bolton Investments Inc. trimmed its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 30.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,809 shares of the basic materials company's stock after selling 195,782 shares during the quarter. Montrusco Bolton Investments Inc. owned approximately 0.21% of Eldorado Gold worth $7,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EGO. Continuum Advisory LLC grew its position in Eldorado Gold by 335.3% during the first quarter. Continuum Advisory LLC now owns 2,525 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 1,945 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 682 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Eldorado Gold by 142.6% during the first quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company's stock valued at $151,000 after purchasing an additional 5,294 shares during the period. Tradition Wealth Management LLC purchased a new stake in shares of Eldorado Gold during the fourth quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Eldorado Gold during the fourth quarter valued at approximately $183,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGO has been the subject of a number of analyst reports. Scotiabank increased their price objective on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a research note on Wednesday. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a research note on Tuesday, July 15th. Canaccord Genuity Group dropped their price objective on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, 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 note on Friday, April 4th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Eldorado Gold presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

Eldorado Gold Trading Down 1.9%

EGO stock traded down $0.39 on Friday, reaching $19.74. The company's stock had a trading volume of 1,060,546 shares, compared to its average volume of 1,690,469. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.53 and a current ratio of 3.12. The firm has a market cap of $4.02 billion, a PE ratio of 12.42, a PEG ratio of 0.34 and a beta of 0.46. The business has a fifty day simple moving average of $20.19 and a two-hundred day simple moving average of $17.58. Eldorado Gold Corporation has a 12-month low of $13.29 and a 12-month 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 the consensus estimate of $0.32 by ($0.04). The firm had revenue of $341.59 million for the quarter, compared to analysts' expectations of $319.83 million. Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. As a group, research analysts forecast that Eldorado Gold Corporation will post 1.5 EPS for the current year.

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.