Hillsdale Investment Management Inc. Decreases Holdings in Eldorado Gold Co. (NYSE:EGO)

Hillsdale Investment Management Inc. decreased its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 38.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,599,932 shares of the basic materials company’s stock after selling 1,007,348 shares during the quarter. Eldorado Gold makes up 1.2% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 18th largest position. Hillsdale Investment Management Inc.’s holdings in Eldorado Gold were worth $23,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Eldorado Gold by 17.5% during the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after purchasing an additional 94,040 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Eldorado Gold by 130.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after purchasing an additional 85,053 shares in the last quarter. Navellier & Associates Inc. acquired a new position in Eldorado Gold during the 3rd quarter valued at approximately $878,000. Finally, National Bank of Canada FI increased its stake in Eldorado Gold by 22.9% during the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after purchasing an additional 118,760 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EGO. StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Scotiabank cut their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Eldorado Gold Stock Down 2.0 %

NYSE:EGO opened at $15.63 on Friday. The firm has a market capitalization of $3.20 billion, a P/E ratio of 11.16 and a beta of 1.11. Eldorado Gold Co. has a 1-year low of $13.12 and a 1-year high of $19.06. The company’s fifty day moving average price is $14.73 and its 200-day moving average price is $15.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

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

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.