Van ECK Associates Corp Has $287.23 Million Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Van ECK Associates Corp boosted its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 22,145,722 shares of the basic materials company’s stock after purchasing an additional 699,111 shares during the period. Van ECK Associates Corp owned about 10.90% of Eldorado Gold worth $287,232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGO. Ninety One UK Ltd bought a new stake in Eldorado Gold in the 4th quarter valued at $32,473,000. Donald Smith & CO. Inc. raised its position in shares of Eldorado Gold by 20.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock valued at $164,825,000 after purchasing an additional 2,136,824 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Eldorado Gold in the fourth quarter valued at about $24,273,000. Triasima Portfolio Management inc. acquired a new stake in shares of Eldorado Gold during the 4th quarter worth about $18,548,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Eldorado Gold by 350.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 684,570 shares of the basic materials company’s stock worth $6,108,000 after buying an additional 532,453 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of EGO traded down $0.01 during trading hours on Monday, hitting $15.19. 1,494,708 shares of the company were exchanged, compared to its average volume of 1,691,914. Eldorado Gold Co. has a fifty-two week low of $8.30 and a fifty-two week high of $16.07. The firm’s fifty day moving average is $13.39 and its 200 day moving average is $12.39. 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 company has a market cap of $3.10 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 6.78 and a beta of 1.10.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $306.90 million for the quarter. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. On average, equities analysts anticipate that Eldorado Gold Co. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EGO shares. National Bank Financial reissued an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a research note on Friday, January 26th. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday. Stifel Canada downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, TD Securities decreased their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.30.

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.