Van ECK Associates Corp Has $337.14 Million Stock Position in Eldorado Gold Co. (NYSE:EGO)

Van ECK Associates Corp cut its holdings in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,585,288 shares of the basic materials company's stock after selling 88,786 shares during the quarter. Van ECK Associates Corp owned about 9.08% of Eldorado Gold worth $337,142,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tobam lifted its holdings in shares of Eldorado Gold by 14.8% during the second quarter. Tobam now owns 5,036 shares of the basic materials company's stock worth $74,000 after buying an additional 651 shares during the last quarter. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 1,336 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Eldorado Gold in the third quarter valued at $32,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company's stock valued at $679,000 after purchasing an additional 1,858 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Eldorado Gold by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company's stock valued at $2,499,000 after purchasing an additional 2,472 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Eldorado Gold Price Performance

Shares of NYSE EGO traded down $1.03 during midday trading on Friday, reaching $16.34. 3,144,557 shares of the company traded hands, compared to its average volume of 1,464,970. The firm has a market cap of $3.35 billion, a PE ratio of 12.19 and a beta of 0.95. The stock's 50-day simple moving average is $17.42 and its 200-day simple moving average is $16.34. Eldorado Gold Co. has a 12 month low of $9.72 and a 12 month high of $19.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a return on equity of 6.75% and a net margin of 23.16%. During the same period in the previous year, the business posted $0.17 earnings per share. As a group, equities analysts anticipate that Eldorado Gold Co. will post 1.45 earnings per share for the current fiscal 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.