Tobam Has $29,000 Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Tobam cut its position in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 49.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,730 shares of the basic materials company’s stock after selling 1,719 shares during the quarter. Tobam’s holdings in Eldorado Gold were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its position in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after buying an additional 682 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Eldorado Gold during the fourth quarter valued at approximately $55,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Eldorado Gold during the fourth quarter valued at approximately $113,000. Tradition Wealth Management LLC acquired a new stake in Eldorado Gold during the fourth quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Eldorado Gold during the fourth quarter valued at approximately $183,000. 69.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EGO shares. Wall Street Zen raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, June 6th. National Bankshares reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price objective on Eldorado Gold from $29.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, May 5th. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada lifted their target price on shares of Eldorado Gold from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.70.

Eldorado Gold Price Performance

EGO opened at $21.43 on Friday. The company has a fifty day moving average price of $19.43 and a two-hundred day moving average price of $16.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $21.79. The firm has a market capitalization of $4.40 billion, a PE ratio of 15.31 and a beta of 0.47.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The business had revenue of $341.59 million for the quarter, compared to analyst estimates of $319.83 million. As a group, analysts anticipate that Eldorado Gold Co. will post 1.5 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.