Profund Advisors LLC cut its stake in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,899 shares of the basic materials company’s stock after selling 3,741 shares during the period. Profund Advisors LLC’s holdings in Eldorado Gold Corporation were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EGO. Hexavest Inc. increased its position 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 valued at $41,023,000 after buying an additional 8,515,065 shares during the period. Franklin Resources Inc. increased its position 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 valued at $134,866,000 after buying an additional 8,006,424 shares during the period. Intact Investment Management Inc. increased its position 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 valued at $18,196,000 after buying an additional 2,441,800 shares during the period. JPMorgan Chase & Co. increased its position in shares of Eldorado Gold Corporation by 106.0% during the second quarter. JPMorgan Chase & Co. now owns 4,337,602 shares of the basic materials company’s stock valued at $11,452,000 after buying an additional 2,232,134 shares during the period. Finally, Morgan Stanley increased its position in shares of Eldorado Gold Corporation by 47.8% during the first quarter. Morgan Stanley now owns 5,560,594 shares of the basic materials company’s stock valued at $18,961,000 after buying an additional 1,798,264 shares during the period. Hedge funds and other institutional investors own 55.07% of the company’s stock.

Eldorado Gold Corporation (EGO) opened at 2.26 on Monday. The company has a 50 day moving average of $2.13 and a 200 day moving average of $2.74. Eldorado Gold Corporation has a 52-week low of $1.77 and a 52-week high of $3.91. The company’s market capitalization is $1.62 billion.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter, compared to the consensus estimate of $104.71 million. Eldorado Gold Corporation had a return on equity of 1.41% and a net margin of 1.00%. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. On average, equities research analysts forecast that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.

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Several equities research analysts have recently weighed in on EGO shares. ValuEngine cut Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Credit Suisse Group cut Eldorado Gold Corporation from a “neutral” rating to an “underperform” rating and set a $2.40 price target on the stock. in a research report on Monday, July 31st. Zacks Investment Research cut Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Canaccord Genuity cut Eldorado Gold Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada decreased their price target on Eldorado Gold Corporation from $3.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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.

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

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