Candriam S.C.A. Lowers Stock Holdings in Eldorado Gold Corporation $EGO

Candriam S.C.A. reduced its position in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 27.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,172,500 shares of the basic materials company’s stock after selling 449,426 shares during the quarter. Candriam S.C.A.’s holdings in Eldorado Gold were worth $23,850,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Eldorado Gold by 36.7% during the 1st quarter. Bank of New York Mellon Corp now owns 18,479 shares of the basic materials company’s stock valued at $311,000 after buying an additional 4,966 shares in the last quarter. Alps Advisors Inc. bought a new position in Eldorado Gold during the first quarter valued at approximately $250,000. Cerity Partners LLC raised its stake in shares of Eldorado Gold by 63.1% during the first quarter. Cerity Partners LLC now owns 31,281 shares of the basic materials company’s stock worth $526,000 after acquiring an additional 12,101 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Eldorado Gold by 142.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,006 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 5,294 shares during the last quarter. Finally, Carrhae Capital LLP boosted its stake in shares of Eldorado Gold by 10.7% in the 1st quarter. Carrhae Capital LLP now owns 6,689,304 shares of the basic materials company’s stock valued at $112,514,000 after purchasing an additional 648,574 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EGO. Wall Street Zen cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. National Bankshares reiterated an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Canaccord Genuity Group raised Eldorado Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Scotiabank raised their price target on Eldorado Gold from $25.50 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $28.21 on Friday. Eldorado Gold Corporation has a 1-year low of $13.29 and a 1-year high of $30.89. The firm has a market cap of $5.68 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.29 and a beta of 0.49. The company has a current ratio of 3.23, a quick ratio of 2.65 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $27.55 and a 200-day moving average of $23.25.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The business had revenue of $436.44 million for the quarter, compared to the consensus estimate of $422.25 million. Sell-side analysts expect that Eldorado Gold Corporation will post 1.5 EPS for the current year.

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.