Eldorado Gold Co. (NYSE:EGO) Position Decreased by Ninety One UK Ltd

Ninety One UK Ltd cut its position in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,418,696 shares of the basic materials company's stock after selling 24,851 shares during the period. Ninety One UK Ltd owned approximately 1.18% of Eldorado Gold worth $35,966,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EGO. Jennison Associates LLC grew its position in Eldorado Gold by 17.5% in the fourth 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 period. Equinox Partners Investment Management LLC increased its position 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 purchasing an additional 239,800 shares during the last quarter. Tidal Investments LLC raised its holdings in Eldorado Gold by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock valued at $15,783,000 after buying an additional 15,652 shares during the period. National Bank of Canada FI lifted its position in Eldorado Gold by 22.9% in the third quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company's stock valued at $11,089,000 after buying an additional 118,760 shares during the last quarter. Finally, U S Global Investors Inc. boosted its stake in Eldorado Gold by 5.9% during the third quarter. U S Global Investors Inc. now owns 277,019 shares of the basic materials company's stock worth $4,812,000 after buying an additional 15,351 shares during the period. Hedge funds and other institutional investors own 69.58% of the company's stock.

Analyst Ratings Changes

EGO has been the topic of several research analyst reports. TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Scotiabank lowered their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a research note on Friday. Finally, StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Eldorado Gold Price Performance

NYSE:EGO traded down $0.10 during trading hours on Friday, reaching $13.92. 2,278,773 shares of the company traded hands, compared to its average volume of 1,906,451. 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 stock has a market cap of $2.85 billion, a P/E ratio of 10.38 and a beta of 0.93. Eldorado Gold Co. has a 1-year low of $9.72 and a 1-year high of $19.06. The firm's 50-day moving average is $15.41 and its 200-day moving average is $16.42.

Eldorado Gold 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.