Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Eldorado Gold Co. (NYSE:EGO)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 45.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,400 shares of the basic materials company’s stock after selling 813,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Eldorado Gold worth $14,296,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC boosted its stake in Eldorado Gold by 17.5% in the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock worth $105,431,000 after purchasing an additional 1,058,137 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Eldorado Gold by 130.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 166,083 shares of the basic materials company’s stock valued at $2,885,000 after acquiring an additional 94,040 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Eldorado Gold by 130.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock valued at $2,607,000 after acquiring an additional 85,053 shares during the period. Navellier & Associates Inc. bought a new position in Eldorado Gold in the 3rd quarter worth approximately $878,000. Finally, National Bank of Canada FI boosted its stake in Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock worth $11,089,000 after purchasing an additional 118,760 shares during the period. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Price Performance

EGO opened at $15.30 on Friday. The business’s 50-day moving average is $14.75 and its two-hundred day moving average is $16.00. Eldorado Gold Co. has a 1 year low of $12.36 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. The firm has a market capitalization of $3.13 billion, a PE ratio of 10.93 and a beta of 1.11.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. Eldorado Gold had a return on equity of 8.74% and a net margin of 21.86%. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $440.43 million. Research analysts anticipate that Eldorado Gold Co. will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EGO has been the topic of several recent research reports. Scotiabank decreased their price target on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a report on Friday, February 7th. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

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.