Gabelli Funds LLC cut its holdings in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 80.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 485,407 shares of the basic materials company’s stock after selling 1,941,636 shares during the quarter. Gabelli Funds LLC’s holdings in Eldorado Gold were worth $1,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Signition LP acquired a new stake in shares of Eldorado Gold during the 4th quarter valued at about $43,000. Tower Research Capital LLC TRC lifted its holdings in shares of Eldorado Gold by 1,257.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 227,252 shares of the basic materials company’s stock valued at $201,000 after buying an additional 210,509 shares during the last quarter. U S Global Investors Inc acquired a new stake in shares of Eldorado Gold during the 3rd quarter valued at about $396,000. Legal & General Group Plc lifted its holdings in shares of Eldorado Gold by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 565,071 shares of the basic materials company’s stock valued at $494,000 after buying an additional 13,649 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in shares of Eldorado Gold by 24.6% during the 3rd quarter. CIBC World Markets Inc. now owns 755,430 shares of the basic materials company’s stock valued at $667,000 after buying an additional 149,331 shares during the last quarter.

EGO opened at $4.04 on Friday. Eldorado Gold Corp has a twelve month low of $2.52 and a twelve month high of $6.20. The company has a current ratio of 6.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.17.

Several equities research analysts have recently issued reports on EGO shares. Zacks Investment Research upgraded Eldorado Gold from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a report on Monday, October 15th. ValuEngine lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BMO Capital Markets restated a “hold” rating on shares of Eldorado Gold in a report on Monday, December 17th. Canaccord Genuity restated a “hold” rating on shares of Eldorado Gold in a report on Sunday, November 25th. Finally, Desjardins upgraded Eldorado Gold from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Eldorado Gold has an average rating of “Hold” and an average price target of $2.36.

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Eldorado Gold Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.

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

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