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

Bank of New York Mellon Corp trimmed its stake in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 77.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,513 shares of the basic materials company's stock after selling 46,390 shares during the quarter. 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 modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Eldorado Gold by 0.3% in the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock worth $3,737,000 after acquiring an additional 804 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of Eldorado Gold by 16.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company's stock worth $297,000 after purchasing an additional 2,775 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Eldorado Gold by 7.4% in the third quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company's stock worth $1,675,000 after purchasing an additional 6,629 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Eldorado Gold by 84.9% during the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company's stock valued at $322,000 after purchasing an additional 8,512 shares in the last quarter. Finally, Navellier & Associates Inc. boosted its position in shares of 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 last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of brokerages have weighed in on EGO. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, February 28th. Scotiabank decreased 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, February 7th. Finally, National Bank Financial upgraded shares of Eldorado Gold to a "strong-buy" rating in a research 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 given a strong buy rating to the company. According to data from MarketBeat, Eldorado Gold currently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Eldorado Gold Stock Performance

Shares of Eldorado Gold stock traded up $0.63 during trading hours on Tuesday, reaching $17.45. 1,484,997 shares of the stock traded hands, compared to its average volume of 1,512,550. Eldorado Gold Co. has a one year low of $13.29 and a one year high of $19.06. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 12.45 and a beta of 1.11. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $14.92 and a 200 day moving average price of $15.92.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) 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 company had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. On average, equities research analysts expect that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal 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.