BlackRock Inc. trimmed its position in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,363,422 shares of the basic materials company’s stock after selling 169,258 shares during the period. BlackRock Inc. owned about 0.93% of Eldorado Gold worth $6,502,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in Eldorado Gold by 479.6% during the second quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 287,028 shares during the period. CIBC Asset Management Inc raised its stake in shares of Eldorado Gold by 180.0% in the third 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 last quarter. Schroder Investment Management Group raised its stake in shares of Eldorado Gold by 22.6% in the second 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 last quarter. Bank of Montreal Can raised its stake in shares of Eldorado Gold by 41.7% in the third 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 last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter valued at approximately $3,327,000.
A number of research firms have commented on EGO. Zacks Investment Research lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets raised shares of Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 price target for the company in a report on Friday, February 1st. CIBC cut shares of Eldorado Gold from a “neutral” rating to a “sector underperform” rating in a research report on Thursday, January 31st. Canaccord Genuity reissued a “hold” rating on shares of Eldorado Gold in a research report on Sunday, November 25th. Finally, ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $2.36.
Shares of EGO stock opened at $4.02 on Tuesday. Eldorado Gold Corp has a 52-week low of $2.52 and a 52-week high of $6.05. The stock has a market capitalization of $638.38 million, a PE ratio of 40.20, a PEG ratio of 5.60 and a beta of 1.67. The company has a current ratio of 6.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.17.
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About Eldorado Gold
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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