CIBC Asset Management Inc cut its holdings in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 80.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,746 shares of the basic materials company’s stock after selling 1,141,903 shares during the quarter. CIBC Asset Management Inc owned 0.17% of Eldorado Gold worth $794,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of EGO. Brave Asset Management Inc. bought a new position in Eldorado Gold in the fourth quarter valued at about $36,000. Legal & General Group Plc raised its holdings in Eldorado Gold by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 565,071 shares of the basic materials company’s stock valued at $494,000 after buying an additional 13,649 shares during the last quarter. Signition LP acquired a new stake in Eldorado Gold during the 4th quarter worth approximately $43,000. Acadian Asset Management LLC bought a new stake in Eldorado Gold during the 4th quarter worth approximately $98,000. Finally, Loews Corp acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $290,000. 42.42% of the stock is owned by institutional investors.
Several brokerages recently weighed in on EGO. ValuEngine cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. TD Securities raised Eldorado Gold from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $3.50 to $4.50 in a research note on Wednesday, February 6th. Zacks Investment Research raised shares of Eldorado Gold from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Tuesday, February 5th. Desjardins restated a “sell” rating on shares of Eldorado Gold in a research report on Saturday, December 29th. Finally, National Bank Financial raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Eldorado Gold presently has a consensus rating of “Hold” and a consensus price target of $2.76.Shares of EGO traded down $0.08 during trading hours on Friday, hitting $4.58. The stock had a trading volume of 983,503 shares, compared to its average volume of 1,972,403. The company has a market cap of $727.30 million, a PE ratio of -26.94, a P/E/G ratio of 9.17 and a beta of 1.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.63 and a quick ratio of 2.66. Eldorado Gold Corp has a 1-year low of $2.52 and a 1-year high of $6.05.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Thursday, February 21st. The basic materials company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $97.60 million. Eldorado Gold had a negative net margin of 78.86% and a negative return on equity of 0.47%. Analysts expect that Eldorado Gold Corp will post 0.1 EPS for the current fiscal year.
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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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