Canada Pension Plan Investment Board lessened its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 33.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,010 shares of the basic materials company’s stock after selling 449,053 shares during the quarter. Canada Pension Plan Investment Board owned 0.13% of Eldorado Gold worth $2,000,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Shell Asset Management Co. raised its position in Eldorado Gold by 2,884.9% during the third quarter. Shell Asset Management Co. now owns 780,973 shares of the basic materials company’s stock worth $5,896,000 after acquiring an additional 754,809 shares in the last quarter. U S Global Investors Inc. acquired a new position in shares of Eldorado Gold in the second quarter valued at about $964,000. Verition Fund Management LLC acquired a new position in shares of Eldorado Gold in the second quarter valued at about $406,000. Prudential PLC acquired a new position in shares of Eldorado Gold in the second quarter valued at about $9,620,000. Finally, Fore Research & Management LP acquired a new position in shares of Eldorado Gold in the second quarter valued at about $237,000. 52.94% of the stock is currently owned by institutional investors and hedge funds.
EGO has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Eldorado Gold from $3.50 to $3.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 29th. Credit Suisse Group downgraded shares of Eldorado Gold from a “neutral” rating to an “underperform” rating in a research note on Monday, October 23rd. ValuEngine cut shares of Eldorado Gold from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Eldorado Gold from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Macquarie lowered shares of Eldorado Gold from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 12th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $1.98.
Eldorado Gold Corporation (NYSE EGO) traded down $0.01 during midday trading on Monday, reaching $1.15. 2,801,031 shares of the company traded hands, compared to its average volume of 6,689,929. Eldorado Gold Corporation has a twelve month low of $1.12 and a twelve month high of $3.91. The company has a current ratio of 7.80, a quick ratio of 6.16 and a debt-to-equity ratio of 0.16. The firm has a market cap of $912.49, a P/E ratio of 58.00 and a beta of 1.14.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share for the quarter. Eldorado Gold had a negative net margin of 5.02% and a positive return on equity of 0.51%. The company had revenue of $95.35 million for the quarter, compared to the consensus estimate of $100.63 million. During the same quarter last year, the business posted $0.03 earnings per share. Eldorado Gold’s revenue was down 18.0% on a year-over-year basis.
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Eldorado Gold Profile
Eldorado Gold Corp is a Canada-based gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, the Tocantinzinho project and exploration activities in Brazil.
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