Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 3,280,000 shares, a decline of 15.2% from the March 31st total of 3,870,000 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 2,080,000 shares, the short-interest ratio is currently 1.6 days.
Several institutional investors and hedge funds have recently bought and sold shares of EGO. BlackRock Inc. raised its stake in shares of Eldorado Gold by 151.4% during the fourth quarter. BlackRock Inc. now owns 11,970,290 shares of the basic materials company's stock worth $158,846,000 after buying an additional 7,207,932 shares during the last quarter. Norges Bank bought a new stake in shares of Eldorado Gold during the fourth quarter worth approximately $28,649,000. Van ECK Associates Corp raised its stake in shares of Eldorado Gold by 3.0% during the fourth quarter. Van ECK Associates Corp now owns 19,716,445 shares of the basic materials company's stock worth $261,637,000 after buying an additional 566,999 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Eldorado Gold by 3,455.7% during the first quarter. Assenagon Asset Management S.A. now owns 571,437 shares of the basic materials company's stock valued at $6,166,000 after purchasing an additional 555,366 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Eldorado Gold during the fourth quarter valued at approximately $4,133,000. 50.73% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on EGO shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $10.00 target price on shares of Eldorado Gold in a research report on Friday. CSFB set a $13.00 target price on shares of Eldorado Gold and gave the company an "underperform" rating in a research report on Friday, January 15th. National Bank Financial reiterated an "outperform" rating on shares of Eldorado Gold in a research report on Tuesday, February 2nd. Canaccord Genuity cut their price target on shares of Eldorado Gold from $16.00 to $15.00 and set a "hold" rating for the company in a report on Friday. Finally, Zacks Investment Research downgraded shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a report on Friday, April 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average price target of $14.86.
Shares of NYSE EGO opened at $10.61 on Tuesday. Eldorado Gold has a 1-year low of $7.79 and a 1-year high of $14.49. The company has a market cap of $1.93 billion, a PE ratio of 10.30, a P/E/G ratio of 2.36 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.38 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $11.17 and a two-hundred day moving average of $12.18.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, April 29th. The basic materials company reported $0.12 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.16 by ($0.04). Eldorado Gold had a return on equity of 3.76% and a net margin of 18.40%. As a group, equities research analysts forecast that Eldorado Gold will post 1.01 earnings per share for the current year.
About Eldorado Gold
Eldorado Gold Corporation and its subsidiaries engage in the exploration, discovery, acquisition, financing, development, production, sale, and reclamation of mineral products, primarily in Turkey, Canada, Greece, Brazil, and Romania. The company primarily produces gold, as well as silver, lead, zinc, and iron ore.
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