Prudential PLC bought a new position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,643,850 shares of the basic materials company’s stock, valued at approximately $9,620,000. Prudential PLC owned 0.51% of Eldorado Gold Corporation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in EGO. Van ECK Associates Corp boosted its stake in shares of Eldorado Gold Corporation by 35.1% during the second quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock worth $189,361,000 after buying an additional 18,636,491 shares during the period. Hexavest Inc. boosted its stake in shares of Eldorado Gold Corporation by 121.5% during the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock worth $41,023,000 after buying an additional 8,515,065 shares during the period. Franklin Resources Inc. boosted its stake in shares of Eldorado Gold Corporation by 18.7% during the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after buying an additional 8,006,424 shares during the period. Public Sector Pension investment Board boosted its stake in shares of Eldorado Gold Corporation by 245.3% during the second quarter. Public Sector Pension investment Board now owns 3,972,278 shares of the basic materials company’s stock worth $10,522,000 after buying an additional 2,821,900 shares during the period. Finally, Intact Investment Management Inc. boosted its stake in shares of Eldorado Gold Corporation by 83.9% during the second quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock worth $18,196,000 after buying an additional 2,441,800 shares during the period. Institutional investors and hedge funds own 55.07% of the company’s stock.

Eldorado Gold Corporation (NYSE:EGO) opened at 2.26 on Friday. The stock’s market capitalization is $1.62 billion. The company’s 50-day moving average is $2.13 and its 200 day moving average is $2.74. Eldorado Gold Corporation has a 12-month low of $1.77 and a 12-month high of $3.91.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share for the quarter. The company had revenue of $82.70 million during the quarter, compared to analyst estimates of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The business’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. On average, analysts predict that Eldorado Gold Corporation will post $0.04 EPS for the current year.

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Several brokerages have recently weighed in on EGO. Credit Suisse Group raised shares of Eldorado Gold Corporation from an “underperform” rating to a “neutral” rating in a report on Monday, September 25th. Zacks Investment Research cut shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Scotiabank cut their price target on shares of Eldorado Gold Corporation from $3.25 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, September 12th. TD Securities cut their price target on shares of Eldorado Gold Corporation from $4.75 to $4.25 and set a “buy” rating for the company in a report on Tuesday, September 12th. Finally, Macquarie cut shares of Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Eldorado Gold Corporation presently has an average rating of “Hold” and an average target price of $3.94.

Eldorado Gold Corporation Company Profile

Eldorado Gold Corporation (Eldorado) is a 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, Tocantinzinho project and exploration activities in Brazil.

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Institutional Ownership by Quarter for Eldorado Gold Corporation (NYSE:EGO)

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