Short Interest in Eldorado Gold Co. (NYSE:EGO) Drops By 14.8%

Eldorado Gold Co. (NYSE:EGO - Get Free Report) TSE: ELD saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 5,300,000 shares, a decrease of 14.8% from the April 15th total of 6,220,000 shares. Currently, 2.6% of the company's shares are sold short. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Helikon Investments Ltd raised its stake in Eldorado Gold by 1.7% during the 3rd quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company's stock valued at $262,297,000 after buying an additional 501,488 shares during the last quarter. Van ECK Associates Corp increased its position in Eldorado Gold by 1.7% during the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company's stock valued at $316,950,000 after acquiring an additional 380,991 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in Eldorado Gold by 9.8% in the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company's stock valued at $196,261,000 after acquiring an additional 1,240,732 shares during the period. Vanguard Group Inc. boosted its position in Eldorado Gold by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company's stock worth $95,858,000 after purchasing an additional 38,630 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Eldorado Gold by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company's stock worth $54,517,000 after purchasing an additional 295,282 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EGO. National Bank Financial reaffirmed an "outperform spec overweight" rating on shares of Eldorado Gold in a research note on Monday, April 8th. Stifel Canada lowered Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. StockNews.com raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Monday. TD Securities dropped their target price on shares of Eldorado Gold from $14.50 to $13.00 and set a "hold" rating for the company in a research report on Monday, February 26th. Finally, Stifel Nicolaus reiterated a "hold" rating on shares of Eldorado Gold in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.30.

Eldorado Gold Stock Down 1.7 %

Shares of NYSE EGO traded down $0.25 during midday trading on Tuesday, hitting $14.82. The stock had a trading volume of 1,007,191 shares, compared to its average volume of 1,639,342. The company has a market cap of $3.02 billion, a P/E ratio of 26.43, a PEG ratio of 4.60 and a beta of 1.12. Eldorado Gold has a 52 week low of $8.30 and a 52 week high of $16.07. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $14.18 and its 200-day moving average is $12.72.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. The firm had revenue of $257.97 million during the quarter. During the same quarter in the prior year, the firm earned $0.11 EPS. As a group, analysts predict that Eldorado Gold will post 0.99 EPS 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.

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