Eldorado Gold Co. (NYSE:EGO) is Donald Smith & CO. Inc.’s 2nd Largest Position

Donald Smith & CO. Inc. cut its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,791,381 shares of the basic materials company’s stock after selling 389,719 shares during the quarter. Eldorado Gold accounts for about 4.8% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 2nd largest holding. Donald Smith & CO. Inc. owned approximately 0.06% of Eldorado Gold worth $204,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its holdings in Eldorado Gold by 130.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock worth $890,000 after buying an additional 35,820 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $2,238,000. Maverick Capital Ltd. purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $1,256,000. Gabelli Funds LLC lifted its holdings in Eldorado Gold by 2.8% in the 1st quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock worth $28,421,000 after buying an additional 55,000 shares during the period. Finally, Equinox Partners Investment Management LLC lifted its holdings in Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after buying an additional 239,800 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Trading Down 1.3 %

Shares of NYSE EGO traded down $0.24 during midday trading on Wednesday, reaching $17.77. 297,617 shares of the stock were exchanged, compared to its average volume of 1,502,546. The company has a 50 day simple moving average of $17.45 and a 200 day simple moving average of $16.30. The stock has a market capitalization of $3.64 billion, a P/E ratio of 31.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. Eldorado Gold Co. has a twelve month low of $9.72 and a twelve month high of $19.06.

Analyst Ratings Changes

Several brokerages have recently issued reports on EGO. Scotiabank increased their target price on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Royal Bank of Canada lifted their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, CIBC lifted their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.38.

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.