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

Helikon Investments Ltd lowered its holdings in Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,871,218 shares of the basic materials company's stock after selling 4,965,361 shares during the period. Eldorado Gold comprises about 29.4% of Helikon Investments Ltd's portfolio, making the stock its largest holding. Helikon Investments Ltd owned 9.22% of Eldorado Gold worth $327,793,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EGO. Jennison Associates LLC bought a new position in shares of Eldorado Gold in the 1st quarter valued at about $36,374,000. Donald Smith & CO. Inc. grew its position in shares of Eldorado Gold by 9.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company's stock valued at $196,261,000 after acquiring an additional 1,240,732 shares during the period. Tidal Investments LLC bought a new position in shares of Eldorado Gold in the 1st quarter valued at about $11,431,000. Commonwealth Equity Services LLC bought a new position in shares of Eldorado Gold in the 2nd quarter valued at about $6,992,000. Finally, Jessup Wealth Management Inc bought a new position in shares of Eldorado Gold in the 2nd quarter valued at about $6,910,000. Institutional investors own 69.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. CIBC upped their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Finally, Scotiabank upped their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.38.

Eldorado Gold Price Performance

EGO stock traded down $0.59 during trading on Thursday, reaching $17.37. 1,676,580 shares of the company were exchanged, compared to its average volume of 1,509,830. The company has a 50-day moving average of $17.45 and a two-hundred day moving average of $16.32. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 30.47 and a beta of 0.95. 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.

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.