Bank of New York Mellon Corp Lowers Position in Eldorado Gold Co. (NYSE:EGO)

Bank of New York Mellon Corp decreased its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 77.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,513 shares of the basic materials company’s stock after selling 46,390 shares during the period. Bank of New York Mellon Corp’s holdings in Eldorado Gold were worth $201,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Eldorado Gold by 17.5% during the fourth quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after buying an additional 94,040 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Eldorado Gold by 130.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after buying an additional 85,053 shares during the period. National Bank of Canada FI increased its stake in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock worth $11,089,000 after acquiring an additional 118,760 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Eldorado Gold by 55.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock valued at $4,592,000 after acquiring an additional 94,676 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Shares of EGO opened at $16.76 on Friday. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 11.97 and a beta of 1.11. The business’s fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $15.93. Eldorado Gold Co. has a 12 month low of $13.29 and a 12 month high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

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

Wall Street Analysts Forecast Growth

EGO has been the topic of a number of recent research reports. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Scotiabank reduced their price objective on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, National Bank Financial raised Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold 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.