Donald Smith & CO. Inc. Sells 1,767,816 Shares of Eldorado Gold Co. (NYSE:EGO)

Donald Smith & CO. Inc. trimmed its position in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 12.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,181,100 shares of the basic materials company’s stock after selling 1,767,816 shares during the quarter. Eldorado Gold comprises 4.6% of Donald Smith & CO. Inc.’s holdings, making the stock its 2nd largest position. Donald Smith & CO. Inc. owned approximately 0.06% of Eldorado Gold worth $180,158,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Eldorado Gold by 1.7% during the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after buying an additional 380,991 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Eldorado Gold by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock valued at $95,858,000 after buying an additional 38,630 shares during the period. Dimensional Fund Advisors LP grew its stake in Eldorado Gold by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock worth $68,149,000 after purchasing an additional 136,900 shares in the last quarter. Jennison Associates LLC acquired a new position in Eldorado Gold during the 1st quarter worth $36,374,000. Finally, Hillsdale Investment Management Inc. grew its stake in Eldorado Gold by 20.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,137,927 shares of the basic materials company’s stock worth $30,065,000 after purchasing an additional 369,127 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGO has been the subject of several analyst reports. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. CIBC boosted their target price on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their target price 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. Finally, Royal Bank of Canada upped their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.38.

Eldorado Gold Price Performance

Eldorado Gold stock opened at $17.99 on Monday. The firm has a fifty day moving average of $16.78 and a 200-day moving average of $15.35. The firm has a market capitalization of $3.68 billion, a P/E ratio of 31.56 and a beta of 0.95. Eldorado Gold Co. has a 52-week low of $8.30 and a 52-week high of $18.38. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $297.14 million during the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, analysts predict that Eldorado Gold Co. will post 1.35 EPS for the current year.

Eldorado Gold Company 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.