Northwest & Ethical Investments L.P. Reduces Stock Position in Eldorado Gold Co. (NYSE:EGO)

Northwest & Ethical Investments L.P. lowered its holdings in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,217 shares of the basic materials company’s stock after selling 28,267 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Eldorado Gold were worth $1,057,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of EGO. Banque Cantonale Vaudoise purchased a new position in Eldorado Gold during the 3rd quarter valued at $36,000. Navellier & Associates Inc. purchased a new stake in shares of Eldorado Gold in the 3rd quarter worth $878,000. Independent Advisor Alliance purchased a new stake in shares of Eldorado Gold in the 3rd quarter worth $544,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Eldorado Gold by 55.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,111 shares of the basic materials company’s stock worth $4,592,000 after buying an additional 94,676 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Eldorado Gold by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock worth $2,885,000 after buying an additional 94,040 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EGO. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Scotiabank lowered their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

Eldorado Gold Trading Down 2.0 %

EGO opened at $15.63 on Friday. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 11.16 and a beta of 1.11. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. Eldorado Gold Co. has a 12 month low of $13.12 and a 12 month high of $19.06. The stock has a fifty day moving average price of $14.73 and a 200-day moving average price of $15.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $440.43 million. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. 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.