ClariVest Asset Management LLC Decreases Stock Position in Eldorado Gold Co. (NYSE:EGO)

ClariVest Asset Management LLC cut its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,442 shares of the basic materials company’s stock after selling 733 shares during the quarter. ClariVest Asset Management LLC’s holdings in Eldorado Gold were worth $1,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EGO. Parkside Financial Bank & Trust bought a new position in Eldorado Gold during the fourth quarter valued at $35,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Eldorado Gold during the fourth quarter valued at $37,000. Tobam purchased a new stake in Eldorado Gold in the 4th quarter valued at about $68,000. Aigen Investment Management LP bought a new stake in shares of Eldorado Gold in the fourth quarter valued at about $134,000. Finally, Sapient Capital LLC purchased a new stake in Eldorado Gold in the fourth quarter worth about $151,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Price Performance

Shares of NYSE EGO traded down $0.04 during midday trading on Friday, hitting $16.55. The stock had a trading volume of 1,503,933 shares, compared to its average volume of 1,192,834. Eldorado Gold Co. has a 1 year low of $8.30 and a 1 year high of $16.72. The company has a quick ratio of 2.52, a current ratio of 3.50 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $15.42 and a 200-day simple moving average of $13.81. The company has a market capitalization of $3.39 billion, a PE ratio of 29.04, a P/E/G ratio of 0.30 and a beta of 0.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Friday, April 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $257.97 million during the quarter. Eldorado Gold had a net margin of 11.43% and a return on equity of 4.47%. During the same period in the prior year, the company posted $0.11 EPS. On average, sell-side analysts expect that Eldorado Gold Co. will post 1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. CIBC lifted their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday. Scotiabank boosted their price target on Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada upgraded shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $20.00 in a report on Wednesday, May 29th. Finally, National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.50.

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.