Gabelli Funds LLC Lowers Holdings in Eldorado Gold Co. (NYSE:EGO)

Gabelli Funds LLC trimmed its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,604,200 shares of the basic materials company's stock after selling 272,300 shares during the period. Gabelli Funds LLC owned about 0.78% of Eldorado Gold worth $23,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Donald Smith & CO. Inc. grew its position in Eldorado Gold by 2.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock worth $179,942,000 after acquiring an additional 309,599 shares during the last quarter. Vanguard Group Inc. grew its holdings in Eldorado Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock worth $117,228,000 after acquiring an additional 136,594 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock valued at $105,431,000 after acquiring an additional 1,058,137 shares during the last quarter. Carrhae Capital LLP boosted its holdings in shares of Eldorado Gold by 13.9% during the fourth quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock worth $89,826,000 after purchasing an additional 738,233 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew 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 worth $39,408,000 after purchasing an additional 2,296,018 shares during the last quarter. 69.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on EGO shares. Scotiabank increased their price objective on Eldorado Gold from $16.50 to $19.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their price objective 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. Finally, StockNews.com raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.38.

Eldorado Gold Stock Up 0.4 %

Shares of NYSE EGO traded up $0.07 during mid-day trading on Monday, hitting $19.87. 534,154 shares of the stock traded hands, compared to its average volume of 1,556,307. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 14.19 and a beta of 0.81. The stock has a fifty day moving average price of $15.85 and a 200-day moving average price of $15.95. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $20.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.13. The firm had revenue of $435.70 million for the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. Research analysts anticipate that Eldorado Gold Co. 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.