Arrowstreet Capital Limited Partnership Reduces Stock Position in Eldorado Gold Co. (NYSE:EGO)

Arrowstreet Capital Limited Partnership lowered its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 95.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,563 shares of the basic materials company’s stock after selling 245,746 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Eldorado Gold were worth $172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EGO. Public Employees Retirement System of Ohio purchased a new stake in Eldorado Gold in the third quarter worth about $2,626,000. Barclays PLC raised its stake in Eldorado Gold by 18.6% during the third quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock valued at $3,064,000 after purchasing an additional 27,667 shares in the last quarter. Geode Capital Management LLC grew its position in Eldorado Gold by 7.4% in the third quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company’s stock worth $1,675,000 after acquiring an additional 6,629 shares in the last quarter. Toronto Dominion Bank raised its holdings in Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after buying an additional 8,512 shares during the period. Finally, Sanctuary Advisors LLC raised its stake in shares of Eldorado Gold by 331.4% in the third quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock valued at $2,295,000 after acquiring an additional 106,438 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

EGO opened at $19.30 on Monday. The firm’s fifty day simple moving average is $15.33 and its two-hundred day simple moving average is $15.88. Eldorado Gold Co. has a 52-week low of $13.29 and a 52-week high of $19.55. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 13.79 and a beta of 0.81. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The business had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Equities analysts anticipate that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, April 4th. National Bank Financial raised shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Scotiabank cut their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Eldorado Gold has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

About Eldorado Gold

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.