Hillsdale Investment Management Inc. Sells 1,007,348 Shares of Eldorado Gold Co. (NYSE:EGO)

Hillsdale Investment Management Inc. trimmed its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,599,932 shares of the basic materials company’s stock after selling 1,007,348 shares during the period. Eldorado Gold comprises 1.2% of Hillsdale Investment Management Inc.’s holdings, making the stock its 18th biggest holding. Hillsdale Investment Management Inc. owned approximately 0.78% of Eldorado Gold worth $23,770,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Eldorado Gold during the 3rd quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new position in Eldorado Gold during the 4th quarter valued at about $55,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Eldorado Gold during the 4th quarter valued at about $113,000. Atria Wealth Solutions Inc. boosted its position in Eldorado Gold by 16.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company’s stock valued at $297,000 after buying an additional 2,775 shares during the period. Finally, Toronto Dominion Bank boosted its position in Eldorado Gold by 84.9% in the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after buying an additional 8,512 shares during the period. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Price Performance

Shares of EGO opened at $15.63 on Friday. The company has a 50 day moving average price of $14.73 and a 200-day moving average price of $15.92. Eldorado Gold Co. has a fifty-two week low of $13.12 and a fifty-two week high of $19.06. The stock has a market capitalization of $3.20 billion, a PE ratio of 11.16 and a beta of 1.11. 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 announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $440.43 million. Equities analysts predict that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Scotiabank lowered their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.