Jupiter Asset Management Ltd. Trims Stock Position in Eldorado Gold Co. (NYSE:EGO)

Jupiter Asset Management Ltd. cut its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 55.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,482 shares of the basic materials company’s stock after selling 14,552 shares during the period. Jupiter Asset Management Ltd.’s holdings in Eldorado Gold were worth $162,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Eldorado Gold by 59.6% during the first quarter. SG Americas Securities LLC now owns 22,303 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 8,326 shares during the period. Jennison Associates LLC purchased a new position in Eldorado Gold during the first quarter worth about $36,374,000. Van ECK Associates Corp raised its stake in Eldorado Gold by 1.7% during the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after purchasing an additional 380,991 shares during the period. Vanguard Group Inc. raised its stake in Eldorado Gold by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock worth $87,862,000 after purchasing an additional 79,670 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Eldorado Gold in the 4th quarter valued at approximately $37,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Eldorado Gold from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. Royal Bank of Canada upgraded shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $20.00 in a report on Wednesday, May 29th. CIBC boosted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Eldorado Gold Stock Down 1.6 %

Shares of Eldorado Gold stock traded down $0.27 during trading hours on Friday, hitting $16.44. The company had a trading volume of 1,258,084 shares, compared to its average volume of 1,289,249. The company’s 50-day moving average is $15.60 and its two-hundred day moving average is $13.94. Eldorado Gold Co. has a twelve month low of $8.30 and a twelve month high of $17.28. The company has a market cap of $3.37 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 0.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. The firm had revenue of $257.97 million during the quarter. During the same quarter last year, the company earned $0.11 EPS. Analysts anticipate that Eldorado Gold Co. will post 1.13 earnings per share for the current fiscal 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.