Harvest Portfolios Group Inc. Cuts Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Harvest Portfolios Group Inc. reduced its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 4.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 34,730 shares of the basic materials company’s stock after selling 1,755 shares during the period. Harvest Portfolios Group Inc.’s holdings in Eldorado Gold were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EGO. Tobam grew its stake in shares of Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after buying an additional 651 shares in the last quarter. Blue Trust Inc. increased its stake 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 worth $33,000 after acquiring an additional 1,336 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold during the third quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Eldorado Gold by 4.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock worth $679,000 after purchasing an additional 1,858 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Eldorado Gold by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock valued at $2,499,000 after buying an additional 2,472 shares during the period. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Analyst Upgrades and Downgrades

EGO has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank increased their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. CIBC boosted their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, TD Securities reduced their price target on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $16.20 on Thursday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 12.09 and a beta of 0.95. The firm has a 50-day moving average of $17.37 and a two-hundred day moving average of $16.37. Eldorado Gold Co. has a 1 year low of $9.72 and a 1 year high of $19.06. 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 released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, research analysts forecast that Eldorado Gold Co. will post 1.45 earnings per share for the current year.

Eldorado Gold 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.