Northwest & Ethical Investments L.P. Has $1.06 Million Stock Position in Eldorado Gold Co. (NYSE:EGO)

Northwest & Ethical Investments L.P. lessened its position in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 28.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,217 shares of the basic materials company's stock after selling 28,267 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Eldorado Gold were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock valued at $3,737,000 after purchasing an additional 804 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Eldorado Gold in the 3rd quarter valued at about $36,000. Swiss National Bank increased its stake in shares of Eldorado Gold by 0.6% in the 4th quarter. Swiss National Bank now owns 403,620 shares of the basic materials company's stock valued at $6,000,000 after acquiring an additional 2,500 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Eldorado Gold by 16.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company's stock valued at $297,000 after acquiring an additional 2,775 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Eldorado Gold during the 4th quarter worth approximately $55,000. Institutional investors own 69.58% of the company's stock.

Remove Ads

Eldorado Gold Stock Down 1.2 %

EGO stock traded down $0.20 during trading hours on Wednesday, reaching $16.40. 1,968,372 shares of the stock were exchanged, compared to its average volume of 1,419,202. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 11.71 and a beta of 1.11. The firm's 50-day moving average is $14.76 and its 200-day moving average is $15.92. Eldorado Gold Co. has a 12 month low of $13.29 and a 12 month high of $19.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly 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 company had revenue of $435.70 million during the quarter, compared to analysts' expectations of $440.43 million. On average, equities research analysts expect that Eldorado Gold Co. will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Scotiabank cut their target price on shares of Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating on the stock in a report on Friday, February 7th. StockNews.com raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, February 28th. Finally, National Bank Financial upgraded 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Eldorado Gold has an average rating of "Moderate Buy" and a consensus target price of $20.00.

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.