Bank of Montreal Can Decreases Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Bank of Montreal Can lowered its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 owned 0.53% of Eldorado Gold worth $16,245,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its position in shares of Eldorado Gold by 2.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company’s stock valued at $179,942,000 after purchasing an additional 309,599 shares during the period. Vanguard Group Inc. lifted its stake in Eldorado Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company’s stock valued at $117,228,000 after buying an additional 136,594 shares in the last quarter. Jennison Associates LLC boosted its holdings in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after buying an additional 1,058,137 shares during the last quarter. Carrhae Capital LLP increased its stake in Eldorado Gold by 13.9% during the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company’s stock worth $89,826,000 after buying an additional 738,233 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its holdings in shares of Eldorado Gold by 648.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company’s stock valued at $39,408,000 after acquiring an additional 2,296,018 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on EGO shares. Royal Bank of Canada lifted their price target on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Scotiabank lowered their target price on shares of 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. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Eldorado Gold has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Eldorado Gold Stock Performance

NYSE EGO opened at $19.30 on Friday. Eldorado Gold Co. has a fifty-two week low of $13.29 and a fifty-two week high of $19.55. The firm has a market capitalization of $3.97 billion, a P/E ratio of 13.79 and a beta of 0.81. The stock’s fifty day moving average is $15.33 and its two-hundred day moving average is $15.90. 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 (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.13. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $440.43 million. On average, research analysts anticipate that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

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.