Russell Investments Group Ltd. Lowers Holdings in Eldorado Gold Co. (NYSE:EGO)

Russell Investments Group Ltd. reduced its stake in shares of Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD by 58.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,152 shares of the basic materials company's stock after selling 41,512 shares during the period. Russell Investments Group Ltd.'s holdings in Eldorado Gold were worth $433,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its stake in shares of Eldorado Gold by 2.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 12,100,980 shares of the basic materials company's stock worth $179,942,000 after acquiring an additional 309,599 shares in the last quarter. Vanguard Group Inc. grew its position in Eldorado Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 7,881,402 shares of the basic materials company's stock worth $117,228,000 after purchasing an additional 136,594 shares in the last quarter. Jennison Associates LLC grew its position in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company's stock worth $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. Carrhae Capital LLP increased its stake in Eldorado Gold by 13.9% in the 4th quarter. Carrhae Capital LLP now owns 6,040,730 shares of the basic materials company's stock valued at $89,826,000 after buying an additional 738,233 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in shares of Eldorado Gold by 648.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,649,986 shares of the basic materials company's stock worth $39,408,000 after buying an additional 2,296,018 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EGO shares. Royal Bank of Canada upped their target price on Eldorado Gold from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank raised their target price on Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. National Bank Financial upgraded Eldorado Gold to a "strong-buy" rating in a research note on Friday, March 21st. StockNews.com upgraded shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Eldorado Gold has a consensus rating of "Moderate Buy" and an average price target of $20.38.

Eldorado Gold Stock Performance

NYSE EGO traded down $0.36 during trading on Friday, hitting $19.05. 1,196,464 shares of the company's stock traded hands, compared to its average volume of 1,572,358. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 13.61 and a beta of 0.81. Eldorado Gold Co. has a 12-month low of $13.29 and a 12-month high of $20.65. The business has a 50 day moving average of $16.35 and a 200-day moving average of $16.05.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.13. The company had revenue of $435.70 million for the quarter, compared to analysts' expectations of $440.43 million. Eldorado Gold had a net margin of 21.86% and a return on equity of 8.74%. As a group, equities research analysts anticipate that Eldorado Gold Co. will post 1.5 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.