Eldorado Gold Co. (NYSE:EGO) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,040 shares of the basic materials company’s stock after selling 2,661 shares during the period. CIBC Asset Management Inc owned about 0.12% of Eldorado Gold worth $4,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EGO. Tobam grew its holdings in shares of Eldorado Gold by 14.8% during the second quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 651 shares during the last quarter. Blue Trust Inc. lifted its position in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares during the period. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold in the 3rd quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock worth $679,000 after acquiring an additional 1,858 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Eldorado Gold by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Up 5.2 %

Shares of NYSE:EGO opened at $15.99 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 11.93 and a beta of 0.95. The stock’s 50-day moving average price is $17.22 and its two-hundred day moving average price is $16.44. Eldorado Gold Co. has a 12-month low of $9.72 and a 12-month high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, research analysts forecast that Eldorado Gold Co. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGO. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. TD Securities cut their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.88.

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.