Bank of Montreal Can Trims Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Bank of Montreal Can lowered its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 30.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,070,554 shares of the basic materials company’s stock after selling 468,416 shares during the period. Bank of Montreal Can owned about 0.59% of Eldorado Gold worth $12,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. U S Global Investors Inc. boosted its holdings in Eldorado Gold by 35.1% in the fourth quarter. U S Global Investors Inc. now owns 454,897 shares of the basic materials company’s stock valued at $6,037,000 after purchasing an additional 118,198 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Eldorado Gold in the fourth quarter valued at about $795,000. Sigma Planning Corp boosted its holdings in Eldorado Gold by 125.9% in the fourth quarter. Sigma Planning Corp now owns 36,272 shares of the basic materials company’s stock valued at $481,000 after purchasing an additional 20,212 shares during the last quarter. Van ECK Associates Corp raised its stake in Eldorado Gold by 3.0% during the fourth quarter. Van ECK Associates Corp now owns 19,716,445 shares of the basic materials company’s stock valued at $261,637,000 after buying an additional 566,999 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Eldorado Gold during the fourth quarter valued at approximately $4,133,000. 54.21% of the stock is owned by hedge funds and other institutional investors.

EGO opened at $10.30 on Friday. Eldorado Gold Co. has a 12 month low of $8.85 and a 12 month high of $14.49. The company has a current ratio of 3.19, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.88 billion, a PE ratio of 15.37, a P/E/G ratio of 4.37 and a beta of 1.43. The firm has a 50 day simple moving average of $11.22.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, April 29th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Eldorado Gold had a net margin of 11.24% and a return on equity of 4.93%. The business had revenue of $224.62 million during the quarter. As a group, equities analysts predict that Eldorado Gold Co. will post 0.47 EPS for the current fiscal year.

Several analysts have issued reports on the company. Zacks Investment Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research note on Friday, April 9th. Canaccord Genuity cut their price objective on Eldorado Gold from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, April 30th. TheStreet cut Eldorado Gold from a “b-” rating to a “c” rating in a research report on Friday, February 26th. Bank of America cut Eldorado Gold from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 price target on shares of Eldorado Gold in a research report on Friday, April 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Eldorado Gold has a consensus rating of “Hold” and an average price target of $14.86.

About Eldorado Gold

Eldorado Gold Corporation and its subsidiaries engage in the exploration, discovery, acquisition, financing, development, production, sale, and reclamation of mineral products, primarily in Turkey, Canada, Greece, Brazil, and Romania. The company primarily produces gold, as well as silver, lead, zinc, and iron ore.

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Institutional Ownership by Quarter for Eldorado Gold (NYSE:EGO)

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