Eldorado Gold Co. (NYSE:EGO) Sees Significant Decrease in Short Interest

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 5,880,000 shares, a decrease of 5.9% from the February 29th total of 6,250,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 3.7 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EGO shares. Stifel Canada cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Wednesday, January 3rd. CIBC increased their target price on Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TD Securities cut their target price on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a report on Monday, February 26th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.00.

Eldorado Gold Stock Up 2.2 %

NYSE EGO traded up $0.31 on Monday, reaching $14.38. The company had a trading volume of 1,610,876 shares, compared to its average volume of 1,607,634. The stock has a market capitalization of $2.92 billion, a P/E ratio of 27.17 and a beta of 1.10. The company’s fifty day moving average is $12.13 and its 200 day moving average is $11.55. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $14.60. The company has a quick ratio of 2.53, a current ratio of 3.39 and a debt-to-equity ratio of 0.18.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Eldorado Gold had a return on equity of 3.56% and a net margin of 10.54%. The business had revenue of $306.90 million during the quarter. Sell-side analysts anticipate that Eldorado Gold will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new stake in Eldorado Gold in the 4th quarter worth about $35,000. C M Bidwell & Associates Ltd. bought a new position in Eldorado Gold in the 2nd quarter worth about $37,000. US Bancorp DE boosted its stake in Eldorado Gold by 682.7% in the 4th quarter. US Bancorp DE now owns 4,970 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 4,335 shares during the period. Tobam bought a new position in Eldorado Gold in the 4th quarter worth about $68,000. Finally, Prelude Capital Management LLC bought a new position in Eldorado Gold in the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.