Bank of Montreal Can Trims Stake in Eldorado Gold Co. (NYSE:EGO)

Bank of Montreal Can cut its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,093,624 shares of the basic materials company’s stock after selling 122,179 shares during the quarter. Bank of Montreal Can’s holdings in Eldorado Gold were worth $16,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EGO. Jennison Associates LLC lifted its position in Eldorado Gold by 17.5% in the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after acquiring an additional 85,053 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Eldorado Gold in the 4th quarter worth approximately $55,000. Barclays PLC boosted its position in shares of Eldorado Gold by 18.6% during the 3rd quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock worth $3,064,000 after purchasing an additional 27,667 shares during the period. Finally, Swiss National Bank increased its holdings in Eldorado Gold by 0.6% in the 4th quarter. Swiss National Bank now owns 403,620 shares of the basic materials company’s stock valued at $6,000,000 after purchasing an additional 2,500 shares during the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 7.2 %

Shares of NYSE EGO opened at $19.30 on Friday. The stock has a market cap of $3.97 billion, a P/E ratio of 13.79 and a beta of 0.81. The business’s fifty day simple moving average is $15.33 and its 200-day simple moving average is $15.90. Eldorado Gold Co. has a 12-month low of $13.29 and a 12-month high of $19.55. The company has a current ratio of 3.37, a quick ratio of 2.54 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. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. As a group, equities analysts predict that Eldorado Gold Co. will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EGO shares. National Bank Financial upgraded Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Scotiabank decreased their target price on 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. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned 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.