Eldorado Gold Corp. (NYSE:EGO) shares dropped 5.8% during trading on Wednesday . The company traded as low as $4.39 and last traded at $4.42, with a volume of 3,446,977 shares trading hands. The stock had previously closed at $4.69.

EGO has been the subject of a number of research analyst reports. Dundee Securities raised shares of Eldorado Gold Corp. from a “neutral” rating to a “buy” rating in a research report on Monday, May 9th. Credit Suisse Group AG reissued a “buy” rating and issued a $6.00 price target on shares of Eldorado Gold Corp. in a research report on Sunday, June 5th. HSBC reissued a “buy” rating on shares of Eldorado Gold Corp. in a research report on Thursday, July 7th. JPMorgan Chase & Co. increased their price target on shares of Eldorado Gold Corp. from $6.00 to $6.50 and gave the stock an “overweight” rating in a research report on Wednesday, March 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $7.00 price target (up previously from $6.00) on shares of Eldorado Gold Corp. in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Eldorado Gold Corp. presently has a consensus rating of “Buy” and an average target price of $5.05.

The company’s 50 day moving average is $4.56 and its 200-day moving average is $3.65. The company’s market cap is $3.09 billion.

A number of hedge funds and institutional investors recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Eldorado Gold Corp. during the fourth quarter valued at about $1,485,000. State of Wisconsin Investment Board raised its position in shares of Eldorado Gold Corp. by 69.3% in the fourth quarter. State of Wisconsin Investment Board now owns 622,503 shares of the company’s stock valued at $1,837,000 after buying an additional 254,800 shares in the last quarter. OppenheimerFunds Inc. raised its position in shares of Eldorado Gold Corp. by 0.9% in the fourth quarter. OppenheimerFunds Inc. now owns 6,765,892 shares of the company’s stock valued at $20,094,000 after buying an additional 60,092 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in shares of Eldorado Gold Corp. by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 3,974,460 shares of the company’s stock valued at $11,783,000 after buying an additional 13,200 shares in the last quarter.

Eldorado Gold Corporation (Eldorado) owns and operates mines around the world, primarily gold mines but also a silver-lead-zinc mine. The Company’s activities involve all facets of the mining industry, including exploration, discovery, acquisition, financing, development, production and reclamation. Its business is focused in Brazil, China, Greece, Turkey and Romania.

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