Renaissance Technologies LLC Sells 437,411 Shares of Eldorado Gold Co. (NYSE:EGO)

Renaissance Technologies LLC lessened its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,534,858 shares of the basic materials company’s stock after selling 437,411 shares during the quarter. Renaissance Technologies LLC owned about 1.73% of Eldorado Gold worth $52,281,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EGO. C M Bidwell & Associates Ltd. bought a new stake in Eldorado Gold in the 4th quarter worth approximately $37,000. Tobam boosted its stake in shares of Eldorado Gold by 14.8% in the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock worth $74,000 after buying an additional 651 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Eldorado Gold in the second quarter worth $97,000. Aigen Investment Management LP purchased a new stake in Eldorado Gold during the fourth quarter valued at $134,000. Finally, Virtu Financial LLC bought a new position in Eldorado Gold in the first quarter valued at about $165,000. 69.58% of the stock is currently owned by institutional investors.

Eldorado Gold Stock Performance

EGO opened at $17.38 on Wednesday. The company has a 50 day simple moving average of $16.82 and a two-hundred day simple moving average of $15.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The firm has a market cap of $3.56 billion, a P/E ratio of 30.49 and a beta of 0.95. Eldorado Gold Co. has a 1-year low of $8.30 and a 1-year high of $18.38.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its 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 company had revenue of $297.14 million for the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter last year, the firm posted $0.09 EPS. Equities analysts forecast that Eldorado Gold Co. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EGO shares. Royal Bank of Canada boosted their price target on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank upped their target price on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. CIBC lifted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $19.38.

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.