Franklin Resources Inc. Sells 214,747 Shares of Eldorado Gold Co. (NYSE:EGO)

Franklin Resources Inc. reduced its holdings in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 866,368 shares of the basic materials company's stock after selling 214,747 shares during the period. Franklin Resources Inc. owned approximately 0.42% of Eldorado Gold worth $12,869,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EGO. Alliancebernstein L.P. increased its position in Eldorado Gold by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 33,360 shares of the basic materials company's stock worth $496,000 after acquiring an additional 1,500 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Eldorado Gold by 53.8% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 78,447 shares of the basic materials company's stock worth $1,166,000 after purchasing an additional 27,426 shares during the period. Wellington Management Group LLP acquired a new position in shares of Eldorado Gold during the fourth quarter valued at about $6,973,000. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in shares of Eldorado Gold in the fourth quarter valued at about $504,000. Finally, Heartland Advisors Inc. acquired a new stake in Eldorado Gold during the fourth quarter worth about $4,709,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on EGO. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Scotiabank reduced their target price 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. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

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Eldorado Gold Price Performance

NYSE:EGO traded up $1.30 during trading hours on Friday, reaching $19.30. The company had a trading volume of 4,223,730 shares, compared to its average volume of 1,557,998. 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 stock has a 50-day moving average of $15.33 and a two-hundred day moving average of $15.90. Eldorado Gold Co. has a one year low of $13.29 and a one year high of $19.55. The firm has a market capitalization of $3.97 billion, a PE ratio of 13.79 and a beta of 0.81.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Analysts forecast 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.