Franklin Resources Inc. Sells 77,455 Shares of Eldorado Gold Co. (NYSE:EGO)

Franklin Resources Inc. decreased its position in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,081,115 shares of the basic materials company's stock after selling 77,455 shares during the quarter. Franklin Resources Inc. owned 0.53% of Eldorado Gold worth $19,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Jennison Associates LLC lifted its holdings in shares of Eldorado Gold by 65.0% during the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company's stock worth $104,777,000 after acquiring an additional 2,376,241 shares during the period. Commonwealth Equity Services LLC bought a new stake in Eldorado Gold during the second quarter worth $6,992,000. Jessup Wealth Management Inc acquired a new stake in shares of Eldorado Gold in the 2nd quarter valued at $6,910,000. Millennium Management LLC increased its stake in shares of Eldorado Gold by 230.6% in the 2nd quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company's stock valued at $2,788,000 after purchasing an additional 332,913 shares during the last quarter. Finally, Equinox Partners Investment Management LLC raised its holdings in shares of Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company's stock worth $17,185,000 after buying an additional 239,800 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EGO has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, TD Securities lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.88.

Eldorado Gold Trading Up 1.5 %

Shares of Eldorado Gold stock traded up $0.22 on Friday, hitting $15.19. The stock had a trading volume of 2,156,591 shares, compared to its average volume of 1,484,345. The stock has a 50 day moving average of $16.61 and a 200 day moving average of $16.53. The firm has a market capitalization of $3.11 billion, a P/E ratio of 11.34 and a beta of 0.93. Eldorado Gold Co. has a twelve month low of $9.72 and a twelve month high of $19.06. 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 - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same quarter last year, the company posted $0.17 earnings per share. Sell-side analysts expect that Eldorado Gold Co. will post 1.42 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.