Mirae Asset Global Investments Co. Ltd. Sells 41,315 Shares of Eldorado Gold Co. (NYSE:EGO)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,255 shares of the basic materials company’s stock after selling 41,315 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.31% of Eldorado Gold worth $8,353,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EGO. Raymond James Financial Services Advisors Inc. grew its stake in Eldorado Gold by 2.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 141,562 shares of the basic materials company’s stock valued at $1,587,000 after buying an additional 2,804 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in Eldorado Gold by 11.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 18,544 shares of the basic materials company’s stock valued at $208,000 after buying an additional 1,944 shares in the last quarter. Citigroup Inc. purchased a new position in Eldorado Gold in the 1st quarter valued at approximately $1,128,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Eldorado Gold by 24.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,921 shares of the basic materials company’s stock valued at $257,000 after buying an additional 4,510 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Eldorado Gold by 1.4% in the 1st quarter. BlackRock Inc. now owns 10,321,583 shares of the basic materials company’s stock valued at $115,706,000 after buying an additional 141,298 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Stock Down 2.9 %

Shares of NYSE:EGO opened at $15.14 on Friday. Eldorado Gold Co. has a 52-week low of $8.30 and a 52-week high of $16.01. The firm has a fifty day moving average of $12.67 and a 200 day moving average of $11.91. The firm has a market capitalization of $3.09 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 6.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.53 and a current ratio of 3.39.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $306.90 million during the quarter. Eldorado Gold had a net margin of 10.54% and a return on equity of 3.56%. As a group, research analysts anticipate that Eldorado Gold Co. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EGO shares. Stifel Canada lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. TD Securities reduced their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a research report on Monday, February 26th. CIBC boosted their price target on shares of Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a research report on Friday, January 26th. Finally, National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.