Hillsdale Investment Management Inc. Reduces Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Hillsdale Investment Management Inc. trimmed its stake in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 38.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,599,932 shares of the basic materials company's stock after selling 1,007,348 shares during the quarter. Eldorado Gold accounts for 1.2% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 18th biggest holding. Hillsdale Investment Management Inc. owned about 0.78% of Eldorado Gold worth $23,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Jennison Associates LLC raised 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 acquiring an additional 1,058,137 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of Eldorado Gold by 648.7% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock worth $39,408,000 after acquiring an additional 2,296,018 shares during the period. Boston Partners grew its stake in shares of Eldorado Gold by 3.8% in the fourth quarter. Boston Partners now owns 1,777,646 shares of the basic materials company's stock worth $26,456,000 after acquiring an additional 64,528 shares during the period. Amundi raised its holdings in shares of Eldorado Gold by 13.6% during the fourth quarter. Amundi now owns 1,095,624 shares of the basic materials company's stock valued at $17,585,000 after purchasing an additional 130,848 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock valued at $15,783,000 after purchasing an additional 15,652 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have commented on EGO. National Bank Financial raised shares of Eldorado Gold to a "strong-buy" rating in a research report on Friday, March 21st. 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, StockNews.com upgraded Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Eldorado Gold Stock Performance

NYSE:EGO traded down $0.20 during mid-day trading on Wednesday, hitting $16.40. 1,968,372 shares of the company traded hands, compared to its average volume of 1,420,109. 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's fifty day moving average price is $14.79 and its 200-day moving average price is $15.92. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 11.71 and a beta of 1.11. Eldorado Gold Co. has a one year low of $13.29 and a one year high of $19.06.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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.

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.