Renaissance Technologies LLC cut its stake in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 88.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,200 shares of the basic materials company’s stock after selling 2,945,200 shares during the quarter. Renaissance Technologies LLC owned 0.05% of Eldorado Gold worth $356,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGO. Tower Research Capital LLC TRC grew its position in shares of Eldorado Gold by 1,257.3% in the third quarter. Tower Research Capital LLC TRC now owns 227,252 shares of the basic materials company’s stock valued at $201,000 after purchasing an additional 210,509 shares during the last quarter. U S Global Investors Inc acquired a new stake in shares of Eldorado Gold in the third quarter valued at about $396,000. CIBC World Markets Inc. grew its position in shares of Eldorado Gold by 24.6% in the third quarter. CIBC World Markets Inc. now owns 755,430 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 149,331 shares during the last quarter. CIBC Asset Management Inc grew its position in Eldorado Gold by 180.0% during the third quarter. CIBC Asset Management Inc now owns 1,412,649 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 908,214 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Eldorado Gold by 22.6% during the second quarter. Schroder Investment Management Group now owns 5,149,397 shares of the basic materials company’s stock worth $6,093,000 after buying an additional 950,413 shares in the last quarter.
EGO opened at $4.18 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.33 and a quick ratio of 4.79. Eldorado Gold Corp has a 52 week low of $2.52 and a 52 week high of $6.05. The firm has a market cap of $663.79 million, a price-to-earnings ratio of 41.80, a price-to-earnings-growth ratio of 5.54 and a beta of 1.67.
A number of research firms recently weighed in on EGO. Zacks Investment Research downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. TD Securities raised Eldorado Gold from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $3.50 to $4.50 in a research report on Wednesday, February 6th. National Bank Financial raised Eldorado Gold from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 1st. BMO Capital Markets raised Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 target price on the stock in a research report on Friday, February 1st. Finally, CIBC downgraded Eldorado Gold from a “neutral” rating to a “sector underperform” rating in a research report on Thursday, January 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $2.36.
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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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