Eldorado Gold Co. (NYSE:EGO) Stake Increased by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 17.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,090,185 shares of the basic materials company’s stock after purchasing an additional 1,058,137 shares during the quarter. Jennison Associates LLC’s holdings in Eldorado Gold were worth $105,431,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new position in shares of Eldorado Gold in the third quarter worth $32,000. Blue Trust Inc. boosted its position in Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold in the 3rd quarter valued at $36,000. Net Worth Advisory Group bought a new position in shares of Eldorado Gold in the third quarter worth about $198,000. Finally, Toronto Dominion Bank increased its position in Eldorado Gold by 84.9% in the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock worth $322,000 after buying an additional 8,512 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Price Performance

Shares of EGO stock opened at $15.22 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The stock’s fifty day simple moving average is $15.49 and its 200 day simple moving average is $16.47. Eldorado Gold Co. has a one year low of $9.72 and a one year high of $19.06. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 11.35 and a beta of 0.93.

Wall Street Analyst Weigh In

EGO has been the subject of a number of research analyst reports. TD Securities cut their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Scotiabank lowered their price target on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.50.

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.