Donald Smith & CO. Inc. Sells 389,719 Shares of Eldorado Gold Co. (NYSE:EGO)

Donald Smith & CO. Inc. lowered its stake in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,791,381 shares of the basic materials company's stock after selling 389,719 shares during the quarter. Eldorado Gold accounts for about 4.8% of Donald Smith & CO. Inc.'s portfolio, making the stock its 2nd largest position. Donald Smith & CO. Inc. owned 5.76% of Eldorado Gold worth $204,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold during the 3rd quarter worth about $32,000. Blue Trust Inc. raised its holdings in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 1,336 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Eldorado Gold in the second quarter worth approximately $74,000. Tobam grew its holdings in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company's stock worth $74,000 after acquiring an additional 651 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Eldorado Gold in the 2nd quarter valued at approximately $97,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EGO. Scotiabank boosted their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. CIBC lifted their price target on Eldorado Gold from $18.00 to $22.50 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eldorado Gold currently has a consensus rating of "Hold" and an average price target of $19.38.

Eldorado Gold Stock Performance

Shares of EGO traded down $0.05 during midday trading on Wednesday, reaching $17.96. 1,343,706 shares of the stock were exchanged, compared to its average volume of 1,507,527. 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 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 31.53 and a beta of 0.95. The business's 50-day moving average price is $17.45 and its 200 day moving average price is $16.30.

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.