Custom Index Systems LLC Lowers Holdings in Eldorado Gold Co. (NYSE:EGO)

Custom Index Systems LLC lowered its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,867 shares of the basic materials company’s stock after selling 1,442 shares during the quarter. Custom Index Systems LLC’s holdings in Eldorado Gold were worth $362,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of Eldorado Gold during the third quarter worth about $32,000. Blue Trust Inc. boosted its holdings in Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Eldorado Gold during the 2nd quarter worth approximately $74,000. Tobam raised its stake in shares of Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after buying an additional 651 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Eldorado Gold during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Analysts Set New Price Targets

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

Eldorado Gold Stock Performance

NYSE:EGO opened at $17.38 on Monday. Eldorado Gold Co. has a twelve month low of $9.72 and a twelve month high of $19.06. The company has a market capitalization of $3.56 billion, a P/E ratio of 20.69 and a beta of 0.95. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $17.47 and a two-hundred day moving average price of $16.27.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $297.14 million during the quarter. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Eldorado Gold Co. will post 1.42 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.