Eldorado Gold (NYSE:EGO) Shares Gap Down – Should You Sell?

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.79, but opened at $14.50. Eldorado Gold shares last traded at $14.10, with a volume of 804,633 shares trading hands.

Wall Street Analyst Weigh In

EGO has been the subject of a number of research analyst reports. Scotiabank dropped their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday. TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Eldorado Gold Trading Down 0.7 %

The firm has a market capitalization of $2.85 billion, a PE ratio of 10.38 and a beta of 0.93. The firm’s 50-day simple moving average is $15.41 and its 200-day simple moving average is $16.42. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Institutional Trading of Eldorado Gold

Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its holdings in Eldorado Gold by 65.0% during the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after buying an additional 2,376,241 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Eldorado Gold by 230.6% during the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock valued at $2,788,000 after purchasing an additional 332,913 shares in the last quarter. Equinox Partners Investment Management LLC increased its position in shares of Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares during the period. Public Employees Retirement System of Ohio bought a new position in Eldorado Gold in the third quarter worth about $2,626,000. Finally, Amundi lifted its holdings in Eldorado Gold by 13.6% in the fourth quarter. Amundi now owns 1,095,624 shares of the basic materials company’s stock worth $17,585,000 after buying an additional 130,848 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.