Cedar Wealth Management LLC Sells 5,400 Shares of Eldorado Gold Corporation $EGO

Cedar Wealth Management LLC cut its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 30.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,600 shares of the basic materials company’s stock after selling 5,400 shares during the quarter. Cedar Wealth Management LLC’s holdings in Eldorado Gold were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in shares of Eldorado Gold by 7.6% in the second quarter. SBI Securities Co. Ltd. now owns 9,693 shares of the basic materials company’s stock valued at $197,000 after buying an additional 687 shares during the period. Fox Run Management L.L.C. lifted its holdings in shares of Eldorado Gold by 2.6% in the second quarter. Fox Run Management L.L.C. now owns 29,553 shares of the basic materials company’s stock worth $601,000 after buying an additional 759 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its stake in Eldorado Gold by 7.0% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 1,275 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eldorado Gold in the second quarter worth $32,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Eldorado Gold by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 30,732 shares of the basic materials company’s stock valued at $517,000 after acquiring an additional 1,580 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Down 1.0%

NYSE:EGO opened at $27.92 on Friday. Eldorado Gold Corporation has a fifty-two week low of $13.29 and a fifty-two week high of $30.89. The firm has a market cap of $5.62 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.29 and a beta of 0.49. The firm has a 50-day simple moving average of $27.59 and a two-hundred day simple moving average of $23.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.65 and a current ratio of 3.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The business had revenue of $436.44 million during the quarter, compared to the consensus estimate of $422.25 million. Analysts predict that Eldorado Gold Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EGO shares. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Scotiabank increased their price objective on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. CIBC raised their target price on Eldorado Gold from $32.00 to $46.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a report on Wednesday, October 8th. Finally, National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.