BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 13.3% in the second quarter, Holdings Channel.com reports. The firm owned 114,804 shares of the basic materials company’s stock after selling 17,590 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Eldorado Gold were worth $1,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. C M Bidwell & Associates Ltd. purchased a new position in Eldorado Gold in the fourth quarter worth about $37,000. Tobam raised its holdings in Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 651 shares during the period. Point72 DIFC Ltd bought a new position in shares of Eldorado Gold in the second quarter worth about $74,000. Headlands Technologies LLC bought a new stake in Eldorado Gold during the 2nd quarter worth approximately $97,000. Finally, Virtu Financial LLC bought a new stake in shares of Eldorado Gold during the 1st quarter valued at $165,000. Institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EGO shares. Scotiabank upped their price target on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Royal Bank of Canada upped their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. CIBC raised their price objective on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.38.

Eldorado Gold Stock Down 4.8 %

Shares of NYSE:EGO opened at $17.60 on Monday. The stock has a market cap of $3.60 billion, a P/E ratio of 30.88 and a beta of 0.95. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. Eldorado Gold Co. has a 52-week low of $8.30 and a 52-week high of $18.85. The business’s 50 day moving average is $17.02 and its 200 day moving average is $15.76.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The firm had revenue of $297.14 million during the quarter. During the same period in the previous year, the company posted $0.09 EPS. Sell-side analysts predict that Eldorado Gold Co. will post 1.4 EPS for the current year.

About Eldorado Gold

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.