Eldorado Gold Co. (NYSE:EGO) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,991,525 shares of the basic materials company's stock after selling 27,761 shares during the period. Invesco Ltd. owned about 0.97% of Eldorado Gold worth $29,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in EGO. Cerity Partners LLC acquired a new position in shares of Eldorado Gold in the fourth quarter worth about $287,000. Envestnet Asset Management Inc. acquired a new position in Eldorado Gold in the 4th quarter worth about $183,000. Donald Smith & CO. Inc. boosted its position in Eldorado Gold by 2.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock worth $179,942,000 after purchasing an additional 309,599 shares in the last quarter. Trexquant Investment LP grew its holdings in Eldorado Gold by 39.3% in the fourth quarter. Trexquant Investment LP now owns 272,594 shares of the basic materials company's stock valued at $4,053,000 after purchasing an additional 76,863 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Eldorado Gold by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 99,562 shares of the basic materials company's stock valued at $1,496,000 after purchasing an additional 3,651 shares during the period. 69.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EGO. Scotiabank increased their target price on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Royal Bank of Canada raised their price target 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. Finally, National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.38.

Eldorado Gold Price Performance

Shares of NYSE:EGO traded down $0.48 during midday trading on Wednesday, hitting $19.01. The company had a trading volume of 650,431 shares, compared to its average volume of 2,014,156. Eldorado Gold Co. has a twelve month low of $13.29 and a twelve month high of $20.65. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 13.58 and a beta of 0.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The business's 50-day simple moving average is $16.05 and its 200-day simple moving average is $16.00.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 earnings per share 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 firm had revenue of $435.70 million for the quarter, compared to analysts' expectations of $440.43 million. On average, research analysts predict 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.