Sprott Inc. Sells 90,059 Shares of Eldorado Gold Co. (NYSE:EGO)

Sprott Inc. trimmed its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713,431 shares of the basic materials company’s stock after selling 90,059 shares during the period. Sprott Inc. owned 0.35% of Eldorado Gold worth $10,609,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Navellier & Associates Inc. boosted its stake in Eldorado Gold by 20.4% during the fourth quarter. Navellier & Associates Inc. now owns 60,889 shares of the basic materials company’s stock valued at $905,000 after buying an additional 10,334 shares during the period. Atria Wealth Solutions Inc. raised its holdings in shares of Eldorado Gold by 16.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 2,775 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after acquiring an additional 804 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Eldorado Gold by 12.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,300 shares of the basic materials company’s stock worth $3,376,000 after purchasing an additional 25,300 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of 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 worth $105,431,000 after purchasing an additional 1,058,137 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGO has been the subject of several research analyst reports. TD Securities dropped 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. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Scotiabank reduced 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. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold has an average rating of “Hold” and a consensus target price of $20.00.

Eldorado Gold Trading Up 0.2 %

EGO stock opened at $14.14 on Wednesday. The company has a market capitalization of $2.90 billion, a PE ratio of 10.10 and a beta of 0.93. 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 Co. has a one year low of $10.03 and a one year high of $19.06. The company’s 50 day moving average price is $14.93 and its two-hundred day moving average price is $16.26.

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

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.