Eldorado Gold Co. (NYSE:EGO) Short Interest Down 13.3% in January

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 4,810,000 shares, a drop of 13.3% from the January 15th total of 5,550,000 shares. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is currently 3.4 days. Approximately 2.5% of the company’s stock are short sold.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock traded down $0.87 on Friday, reaching $13.98. The stock had a trading volume of 2,277,635 shares, compared to its average volume of 1,906,451. The business’s 50-day moving average price is $15.25 and its two-hundred day moving average price is $16.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The stock has a market cap of $2.86 billion, a P/E ratio of 10.43 and a beta of 0.93.

Analyst Ratings Changes

EGO has been the subject of several recent analyst reports. TD Securities decreased their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a report on Monday, November 4th. 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 report on Friday, February 7th. Finally, StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently bought and sold shares of EGO. Financial Management Professionals Inc. bought a new stake in shares of Eldorado Gold in the 3rd quarter worth about $32,000. Blue Trust Inc. raised its position in shares of Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,336 shares during the period. Banque Cantonale Vaudoise bought a new position in Eldorado Gold during the 3rd quarter worth approximately $36,000. TD Waterhouse Canada Inc. boosted its stake in Eldorado Gold by 26.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 682 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Eldorado Gold in the fourth quarter valued at approximately $55,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.