Legal & General Group Plc Cuts Holdings in Eldorado Gold Co. (NYSE:EGO)

Legal & General Group Plc trimmed its holdings in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,174 shares of the basic materials company's stock after selling 14,289 shares during the period. Legal & General Group Plc owned 0.22% of Eldorado Gold worth $6,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGO. SBI Securities Co. Ltd. acquired a new position in shares of Eldorado Gold during the 4th quarter worth approximately $55,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Eldorado Gold during the fourth quarter worth approximately $113,000. Envestnet Asset Management Inc. acquired a new position in Eldorado Gold during the fourth quarter worth $183,000. Fox Run Management L.L.C. purchased a new stake in Eldorado Gold in the 4th quarter valued at $254,000. Finally, Cerity Partners LLC acquired a new stake in shares of Eldorado Gold in the 4th quarter worth $287,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Trading Up 1.2 %

Shares of EGO traded up $0.22 during midday trading on Thursday, hitting $19.27. 557,626 shares of the stock were exchanged, compared to its average volume of 1,565,636. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The firm has a market cap of $3.96 billion, a P/E ratio of 13.76 and a beta of 0.81. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $20.65. The stock has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $16.02.

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, beating the consensus estimate of $0.49 by $0.13. The company had revenue of $435.70 million during the quarter, compared to the consensus estimate of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. On average, research analysts anticipate that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EGO has been the subject of several recent analyst reports. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Royal Bank of Canada upped their price objective on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank lifted their target price on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.38.

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.