Eldorado Gold Corporation $EGO Position Trimmed by Royal Bank of Canada

Royal Bank of Canada trimmed its position in shares of Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,779,881 shares of the basic materials company's stock after selling 174,861 shares during the period. Royal Bank of Canada owned approximately 0.87% of Eldorado Gold worth $29,938,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its holdings in Eldorado Gold by 3.2% during the 1st quarter. Donald Smith & CO. Inc. now owns 12,492,756 shares of the basic materials company's stock valued at $210,128,000 after purchasing an additional 391,776 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eldorado Gold by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company's stock valued at $134,984,000 after acquiring an additional 148,567 shares during the last quarter. Jennison Associates LLC grew its holdings in Eldorado Gold by 2.2% during the 1st quarter. Jennison Associates LLC now owns 7,245,804 shares of the basic materials company's stock worth $121,874,000 after acquiring an additional 155,619 shares in the last quarter. Carrhae Capital LLP grew its holdings in Eldorado Gold by 10.7% during the 1st quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company's stock worth $112,514,000 after acquiring an additional 648,574 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its holdings in Eldorado Gold by 43.5% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 3,802,895 shares of the basic materials company's stock worth $63,970,000 after acquiring an additional 1,152,909 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EGO shares. National Bankshares reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, July 16th. CIBC reissued an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating on shares of Eldorado Gold in a report on Monday, August 11th. Finally, Wall Street Zen lowered shares of Eldorado Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of "Moderate Buy" and an average price target of $23.60.

Eldorado Gold Price Performance

Shares of EGO stock traded up $0.44 during midday trading on Friday, reaching $28.11. 2,056,404 shares of the company were exchanged, compared to its average volume of 1,397,755. Eldorado Gold Corporation has a 12 month low of $13.29 and a 12 month high of $28.23. The company has a market cap of $5.71 billion, a P/E ratio of 14.13, a PEG ratio of 0.45 and a beta of 0.44. The company's 50 day moving average price is $22.65 and its two-hundred day moving average price is $19.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23.

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 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). Eldorado Gold had a return on equity of 8.79% and a net margin of 26.07%.The company had revenue of $459.53 million for the quarter, compared to the consensus estimate of $401.85 million. On average, sell-side analysts expect that Eldorado Gold Corporation will post 1.5 earnings per share for the current year.

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.