Donald Smith & CO. Inc. Reduces Stake in Eldorado Gold Corporation $EGO

Donald Smith & CO. Inc. trimmed its holdings in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 16.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,481,326 shares of the basic materials company’s stock after selling 2,011,430 shares during the quarter. Eldorado Gold accounts for approximately 5.0% of Donald Smith & CO. Inc.’s holdings, making the stock its 2nd biggest holding. Donald Smith & CO. Inc. owned 0.05% of Eldorado Gold worth $213,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. LPL Financial LLC lifted its position in shares of Eldorado Gold by 645.2% during the first quarter. LPL Financial LLC now owns 167,708 shares of the basic materials company’s stock valued at $2,821,000 after buying an additional 145,202 shares during the last quarter. XTX Topco Ltd purchased a new stake in Eldorado Gold during the first quarter valued at approximately $207,000. Vanguard Group Inc. boosted its stake in Eldorado Gold by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,029,969 shares of the basic materials company’s stock valued at $134,984,000 after acquiring an additional 148,567 shares in the last quarter. Deutsche Bank AG grew its holdings in Eldorado Gold by 85.2% in the first quarter. Deutsche Bank AG now owns 870,357 shares of the basic materials company’s stock worth $14,639,000 after purchasing an additional 400,477 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC lifted its holdings in shares of Eldorado Gold by 7.0% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 19,574 shares of the basic materials company’s stock valued at $329,000 after purchasing an additional 1,275 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a research note on Tuesday, November 4th. Bank of America upped their target price on Eldorado Gold from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Monday, December 1st. Weiss Ratings restated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, October 8th. Finally, Scotiabank boosted their price target on Eldorado Gold from $25.50 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Eldorado Gold Price Performance

NYSE:EGO opened at $31.10 on Friday. The firm’s fifty day moving average is $28.15 and its two-hundred day moving average is $24.48. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79. Eldorado Gold Corporation has a one year low of $13.29 and a one year high of $32.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The company had revenue of $436.44 million during the quarter, compared to analyst estimates of $422.25 million. Research analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current year.

Eldorado Gold Company 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.