Bank of New York Mellon Corp trimmed its stake in Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 19.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,667,208 shares of the basic materials company’s stock after selling 1,349,528 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.71% of Eldorado Gold worth $5,004,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EGO. BlackRock Inc. raised its stake in Eldorado Gold by 2.1% during the second quarter. BlackRock Inc. now owns 7,532,680 shares of the basic materials company’s stock worth $7,484,000 after purchasing an additional 157,562 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Eldorado Gold in the 2nd quarter valued at approximately $3,327,000. Schroder Investment Management Group raised its stake in shares of Eldorado Gold by 22.6% in the 2nd quarter. Schroder Investment Management Group now owns 5,149,397 shares of the basic materials company’s stock valued at $6,093,000 after acquiring an additional 950,413 shares during the period. Bank of Montreal Can raised its stake in shares of Eldorado Gold by 41.7% in the 3rd quarter. Bank of Montreal Can now owns 9,193,521 shares of the basic materials company’s stock valued at $8,119,000 after acquiring an additional 2,705,113 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Eldorado Gold by 180.0% in the 3rd quarter. CIBC Asset Management Inc now owns 1,412,649 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 908,214 shares during the period.
Eldorado Gold stock opened at $4.00 on Thursday. The company has a market capitalization of $641.56 million, a PE ratio of 40.00, a P/E/G ratio of 5.60 and a beta of 1.67. Eldorado Gold Corp has a 1 year low of $2.52 and a 1 year high of $6.05. The company has a current ratio of 6.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.17.
EGO has been the topic of a number of research analyst reports. CIBC downgraded shares of Eldorado Gold from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, January 31st. Zacks Investment Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Desjardins raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. BMO Capital Markets raised shares of Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 price target on the stock in a research note on Friday, February 1st. Finally, ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Eldorado Gold presently has a consensus rating of “Hold” and an average target price of $2.36.
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Eldorado Gold Company Profile
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and Tocantinzinho gold project in Brazil.
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