Jane Street Group LLC decreased its position in shares of Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) by 98.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,155 shares of the basic materials company’s stock after selling 1,252,858 shares during the quarter. Jane Street Group LLC’s holdings in Eldorado Gold were worth $67,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Brave Asset Management Inc. purchased a new stake in Eldorado Gold in the 4th quarter valued at approximately $36,000. Signition LP purchased a new stake in Eldorado Gold in the 4th quarter valued at approximately $43,000. Acadian Asset Management LLC purchased a new stake in Eldorado Gold in the 4th quarter valued at approximately $98,000. Two Sigma Investments LP purchased a new stake in Eldorado Gold in the 4th quarter valued at approximately $106,000. Finally, Two Sigma Advisers LP purchased a new stake in Eldorado Gold in the 4th quarter valued at approximately $156,000. 42.42% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on EGO. Credit Suisse Group began coverage on Eldorado Gold in a research note on Tuesday, April 16th. They issued a “neutral” rating and a $6.00 target price on the stock. Zacks Investment Research lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. TD Securities raised Eldorado Gold from a “reduce” rating to a “hold” rating and upped their target price for the company from $3.50 to $4.50 in a research note on Wednesday, February 6th. National Bank Financial raised Eldorado Gold from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 1st. Finally, BMO Capital Markets raised Eldorado Gold from a “market perform” rating to an “outperform” rating and set a $3.81 target price on the stock in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $4.83.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, February 21st. The basic materials company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Eldorado Gold had a negative return on equity of 0.47% and a negative net margin of 78.86%. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $97.60 million. Analysts expect that Eldorado Gold Corp will post 0.14 earnings per share for the current fiscal year.
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About Eldorado Gold
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.
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