Eldorado Gold Co. (NYSE:EGO) Stake Lessened by Tobam

Tobam trimmed its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 49.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,730 shares of the basic materials company’s stock after selling 1,719 shares during the period. Tobam’s holdings in Eldorado Gold were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. raised its holdings in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock valued at $48,000 after buying an additional 682 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Eldorado Gold by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after buying an additional 804 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Eldorado Gold by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 179,139 shares of the basic materials company’s stock valued at $2,664,000 after buying an additional 1,174 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company’s stock valued at $496,000 after buying an additional 1,500 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Eldorado Gold by 0.6% during the fourth quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock valued at $6,000,000 after buying an additional 2,500 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGO has been the topic of several recent research reports. National Bankshares restated an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 23rd. Wall Street Zen upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, June 6th. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank of Canada raised their price target on Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, Canaccord Genuity Group lowered their price target on Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Eldorado Gold Trading Up 1.0%

Shares of NYSE:EGO opened at $21.43 on Friday. The company has a market cap of $4.40 billion, a P/E ratio of 15.31 and a beta of 0.47. The stock’s 50-day moving average is $19.43 and its 200-day moving average is $16.73. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $21.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The business had revenue of $341.59 million during the quarter, compared to analyst estimates of $319.83 million. Equities research analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

Eldorado Gold Profile

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.