UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 19,590 Shares of Eldorado Gold Co. (NYSE:EGO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 177,965 shares of the basic materials company’s stock after selling 19,590 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Eldorado Gold worth $3,091,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in shares of Eldorado Gold by 65.0% during the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after purchasing an additional 2,376,241 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in Eldorado Gold during the 2nd quarter valued at about $6,992,000. Jessup Wealth Management Inc purchased a new stake in Eldorado Gold in the 2nd quarter valued at about $6,910,000. Millennium Management LLC grew its stake in Eldorado Gold by 230.6% in the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock worth $2,788,000 after acquiring an additional 332,913 shares in the last quarter. Finally, Equinox Partners Investment Management LLC increased its position in shares of Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after acquiring an additional 239,800 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

Shares of EGO stock opened at $15.96 on Friday. The company has a market cap of $3.27 billion, a P/E ratio of 11.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The stock’s 50-day moving average is $16.71 and its 200 day moving average is $16.54. Eldorado Gold Co. has a 1-year low of $9.72 and a 1-year high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter in the prior year, the business posted $0.17 earnings per share. Research analysts predict that Eldorado Gold Co. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on EGO. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities cut their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank raised their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.88.

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.