Eldorado Gold Co. (NYSE:EGO) Short Interest Update

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,810,000 shares, a decline of 13.3% from the January 15th total of 5,550,000 shares. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is presently 3.4 days. Currently, 2.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EGO. Net Worth Advisory Group acquired a new position in Eldorado Gold during the third quarter valued at approximately $198,000. Equinox Partners Investment Management LLC lifted its position in Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after buying an additional 239,800 shares in the last quarter. Blue Trust Inc. lifted 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 valued at $33,000 after buying an additional 1,336 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Eldorado Gold by 33.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 202,000 shares of the basic materials company’s stock valued at $3,515,000 after buying an additional 50,500 shares in the last quarter. Finally, U S Global Investors Inc. lifted its position in Eldorado Gold by 5.9% during the third quarter. U S Global Investors Inc. now owns 277,019 shares of the basic materials company’s stock valued at $4,812,000 after buying an additional 15,351 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

Eldorado Gold Stock Performance

Shares of EGO opened at $14.24 on Tuesday. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $15.20 and a 200-day simple moving average of $16.33. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06. The company has a market capitalization of $2.92 billion, a PE ratio of 10.54 and a beta of 0.93.

Analyst Upgrades and Downgrades

EGO has been the topic of a number of research analyst reports. TD Securities reduced their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Scotiabank lowered their price target on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Eldorado Gold has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.