Ninety One UK Ltd Lowers Stock Position in Eldorado Gold Corporation (NYSE:EGO)

Ninety One UK Ltd lowered its position in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 73.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 647,145 shares of the basic materials company's stock after selling 1,771,551 shares during the period. Ninety One UK Ltd owned approximately 0.31% of Eldorado Gold worth $10,885,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its stake in Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 682 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eldorado Gold by 0.7% during 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 acquiring an additional 1,174 shares during the period. Alliancebernstein L.P. raised its position in Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock worth $496,000 after acquiring an additional 1,500 shares during the period. Continuum Advisory LLC raised 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 worth $42,000 after acquiring an additional 1,945 shares during the period. Finally, Swiss National Bank raised its position in Eldorado Gold by 0.6% during the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company's stock worth $6,000,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Eldorado Gold Trading Up 2.7%

Shares of EGO traded up $0.53 during mid-day trading on Friday, reaching $20.47. The stock had a trading volume of 1,382,422 shares, compared to its average volume of 1,694,481. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.12 and a quick ratio of 2.53. Eldorado Gold Corporation has a 52-week low of $13.29 and a 52-week high of $21.79. The business's fifty day moving average is $20.14 and its 200 day moving average is $17.38. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.35 and a beta of 0.46.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Eldorado Gold had a net margin of 23.10% and a return on equity of 8.41%. The firm had revenue of $341.59 million during the quarter, compared to analysts' expectations of $319.83 million. On average, sell-side analysts predict that Eldorado Gold Corporation will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EGO shares. Royal Bank Of Canada increased their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Scotiabank increased their target price on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.50.

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.