Voloridge Investment Management LLC Sells 246,055 Shares of Eldorado Gold Co. (NYSE:EGO)

Voloridge Investment Management LLC lessened its stake in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 82.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,916 shares of the basic materials company's stock after selling 246,055 shares during the quarter. Voloridge Investment Management LLC's holdings in Eldorado Gold were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGO. TD Waterhouse Canada Inc. lifted its stake in 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 worth $48,000 after purchasing an additional 682 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Eldorado Gold during the 4th quarter worth $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Eldorado Gold during the 4th quarter worth $113,000. Tradition Wealth Management LLC bought a new stake in shares of Eldorado Gold during the 4th quarter worth $153,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Eldorado Gold in the fourth quarter valued at about $183,000. Institutional investors and hedge funds own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Scotiabank lifted their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Canaccord Genuity Group cut their target price on shares of Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada boosted their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Finally, National Bankshares reiterated an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Eldorado Gold presently has a consensus rating of "Moderate Buy" and an average target price of $21.70.

Eldorado Gold Trading Up 0.7%

NYSE EGO traded up $0.14 during trading hours on Friday, reaching $20.13. The company's stock had a trading volume of 2,403,617 shares, compared to its average volume of 1,643,675. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $20.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The stock has a market cap of $4.14 billion, a P/E ratio of 14.38 and a beta of 0.42. The firm has a fifty day simple moving average of $18.55 and a 200-day simple moving average of $16.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $341.59 million for the quarter, compared to the consensus estimate of $319.83 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. Equities analysts forecast that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal 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.