Franklin Resources Inc. Sells 77,455 Shares of Eldorado Gold Co. (NYSE:EGO)

Franklin Resources Inc. decreased its holdings in Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,081,115 shares of the basic materials company’s stock after selling 77,455 shares during the quarter. Franklin Resources Inc. owned 0.53% of Eldorado Gold worth $19,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EGO. Jennison Associates LLC boosted its holdings in Eldorado Gold by 65.0% during the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock valued at $104,777,000 after purchasing an additional 2,376,241 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Eldorado Gold by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after acquiring an additional 136,900 shares during the period. Equinox Partners Investment Management LLC raised its stake in Eldorado Gold by 32.0% during the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after acquiring an additional 239,800 shares in the last quarter. Tidal Investments LLC raised its stake in Eldorado Gold by 1.8% during the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after acquiring an additional 15,652 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Eldorado Gold by 22.9% during 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 acquiring an additional 118,760 shares during the period. 69.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EGO. Royal Bank of Canada increased 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. TD Securities reduced their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Down 1.3 %

NYSE:EGO opened at $14.97 on Friday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 11.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The stock’s fifty day moving average price is $16.61 and its two-hundred day moving average price is $16.53. Eldorado Gold Co. has a 52-week low of $9.72 and a 52-week high of $19.06.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $331.76 million for the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period last year, the company earned $0.17 EPS. On average, analysts anticipate that Eldorado Gold Co. will post 1.42 EPS for the current year.

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.