Franklin Resources Inc. Sells 214,747 Shares of Eldorado Gold Co. (NYSE:EGO)

Franklin Resources Inc. lessened its stake in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 19.9% in the fourth quarter, Holdings Channel reports. The firm owned 866,368 shares of the basic materials company’s stock after selling 214,747 shares during the quarter. Franklin Resources Inc.’s holdings in Eldorado Gold were worth $12,869,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EGO. National Bank of Canada FI boosted its position in Eldorado Gold by 22.9% in the third quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after buying an additional 118,760 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Eldorado Gold in the 3rd quarter valued at about $2,626,000. Barclays PLC increased its position in Eldorado Gold by 18.6% during the 3rd quarter. Barclays PLC now owns 176,381 shares of the basic materials company’s stock valued at $3,064,000 after purchasing an additional 27,667 shares during the period. Geode Capital Management LLC boosted its stake in shares of Eldorado Gold by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company’s stock valued at $1,675,000 after purchasing an additional 6,629 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock worth $322,000 after acquiring an additional 8,512 shares during the period. 69.58% of the stock is owned by institutional investors.

Eldorado Gold Stock Down 3.2 %

EGO opened at $15.64 on Tuesday. The business’s fifty day simple moving average is $15.11 and its 200 day simple moving average is $15.90. Eldorado Gold Co. has a 52 week low of $13.29 and a 52 week high of $19.06. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.20 billion, a PE ratio of 11.17 and a beta of 0.81.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Royal Bank of Canada boosted their price objective on Eldorado Gold from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday. National Bank Financial upgraded shares of Eldorado Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Scotiabank reduced their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating for the company in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.75.

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.