Eldorado Gold Co. (NYSE:EGO) Position Reduced by Ninety One UK Ltd

Ninety One UK Ltd lowered its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,418,696 shares of the basic materials company’s stock after selling 24,851 shares during the period. Ninety One UK Ltd’s holdings in Eldorado Gold were worth $35,966,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in Eldorado Gold in the third quarter valued at about $32,000. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 1,336 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Eldorado Gold during the 3rd quarter valued at approximately $36,000. Net Worth Advisory Group acquired a new position in Eldorado Gold in the third quarter worth $198,000. Finally, Toronto Dominion Bank increased its stake in Eldorado Gold by 84.9% during the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 8,512 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGO. Scotiabank reduced their price target on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. TD Securities cut their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.50.

Eldorado Gold Stock Up 2.1 %

EGO stock opened at $15.54 on Wednesday. Eldorado Gold Co. has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.18 billion, a PE ratio of 11.59 and a beta of 0.93. The firm’s 50-day simple moving average is $15.49 and its 200 day simple moving average is $16.46.

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.