Wells Fargo & Company MN Sells 312,573 Shares of Eldorado Gold (EGO)

Wells Fargo & Company MN cut its stake in shares of Eldorado Gold (NYSE:EGO) (TSE:ELD) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478,237 shares of the basic materials company’s stock after selling 312,573 shares during the period. Wells Fargo & Company MN owned 0.19% of Eldorado Gold worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of EGO. Legal & General Group Plc raised its position in Eldorado Gold by 15.1% during the third quarter. Legal & General Group Plc now owns 667,020 shares of the basic materials company’s stock valued at $1,462,000 after purchasing an additional 87,400 shares during the period. Allianz Asset Management GmbH raised its position in Eldorado Gold by 5.5% during the third quarter. Allianz Asset Management GmbH now owns 4,034,170 shares of the basic materials company’s stock valued at $8,838,000 after purchasing an additional 210,674 shares during the period. AMP Capital Investors Ltd raised its position in Eldorado Gold by 72.7% during the third quarter. AMP Capital Investors Ltd now owns 167,521 shares of the basic materials company’s stock valued at $367,000 after purchasing an additional 70,500 shares during the period. Virtu Financial LLC raised its position in Eldorado Gold by 608.4% during the third quarter. Virtu Financial LLC now owns 242,068 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 207,899 shares during the period. Finally, Hexavest Inc. raised its position in Eldorado Gold by 3.0% during the fourth quarter. Hexavest Inc. now owns 19,030,386 shares of the basic materials company’s stock valued at $27,340,000 after purchasing an additional 549,135 shares during the period. Institutional investors and hedge funds own 51.61% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Eldorado Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Credit Suisse Group upgraded Eldorado Gold from an “underperform” rating to a “neutral” rating and set a $1.60 price objective on the stock in a research report on Friday, January 26th. Macquarie upgraded Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 17th. ValuEngine cut Eldorado Gold from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Bank of America cut Eldorado Gold from a “neutral” rating to an “underperform” rating and set a $1.00 target price on the stock. in a research note on Friday. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $1.25.



EGO opened at $0.94 on Friday. The company has a market cap of $780.99, a PE ratio of 49.18, a price-to-earnings-growth ratio of 19.67 and a beta of 1.37. Eldorado Gold has a one year low of $0.80 and a one year high of $3.76. The company has a current ratio of 6.46, a quick ratio of 4.98 and a debt-to-equity ratio of 0.16.

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Eldorado Gold Profile

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 also explores for iron, silver, lead, and zinc. It holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; 95% interests in Olympias and Skouries, and 100% interests in Perama Hill gold projects in Greece; 81% interests in Certej gold project in Romania; 100% interests in Tocantinzinho gold project in Brazil; 95% interests in Stratoni lead and zinc mines in Greece; and 100% interests in Vila Nova iron ore mine in Brazil.

Institutional Ownership by Quarter for Eldorado Gold (NYSE:EGO)

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