Van ECK Associates Corp Has $264.44 Million Stock Position in Eldorado Gold Co. (NYSE:EGO)

Van ECK Associates Corp cut its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,783,654 shares of the basic materials company’s stock after selling 801,634 shares during the period. Van ECK Associates Corp owned approximately 8.68% of Eldorado Gold worth $264,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new position in shares of Eldorado Gold during the third quarter worth $32,000. Blue Trust Inc. raised its stake in Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,336 shares during the period. Banque Cantonale Vaudoise bought a new position in Eldorado Gold during the third quarter worth about $36,000. Net Worth Advisory Group acquired a new position in Eldorado Gold in the third quarter valued at about $198,000. Finally, Toronto Dominion Bank increased its holdings in shares of Eldorado Gold by 84.9% in the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock worth $322,000 after acquiring an additional 8,512 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 7th. TD Securities reduced their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Scotiabank dropped their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Trading Up 0.7 %

Shares of Eldorado Gold stock opened at $14.50 on Thursday. The stock has a market cap of $2.97 billion, a P/E ratio of 10.82 and a beta of 0.93. Eldorado Gold Co. has a 12-month low of $9.72 and a 12-month high of $19.06. The business’s 50 day moving average is $15.31 and its 200-day moving average is $16.39. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

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.