BlueMountain Capital Management LLC raised its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,790,226 shares of the basic materials company’s stock after acquiring an additional 1,037,226 shares during the period. BlueMountain Capital Management LLC owned 0.95% of Eldorado Gold Corporation worth $17,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EGO. Van ECK Associates Corp increased its holdings in shares of Eldorado Gold Corporation by 16.2% during the 1st quarter. Van ECK Associates Corp now owns 53,091,298 shares of the basic materials company’s stock worth $181,046,000 after buying an additional 7,397,249 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Eldorado Gold Corporation by 18.7% during the 2nd quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after buying an additional 8,006,424 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Eldorado Gold Corporation by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after buying an additional 617,087 shares during the last quarter. Hexavest Inc. increased its holdings in shares of Eldorado Gold Corporation by 121.5% during the 2nd quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock worth $41,023,000 after buying an additional 8,515,065 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Eldorado Gold Corporation by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,609,444 shares of the basic materials company’s stock worth $33,290,000 after buying an additional 824,770 shares during the last quarter. Institutional investors own 55.08% of the company’s stock.

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A number of analysts have recently commented on the company. ValuEngine downgraded Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating on shares of Eldorado Gold Corporation in a report on Tuesday, June 6th. CIBC downgraded Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a report on Wednesday, June 28th. Credit Suisse Group downgraded Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $5.25 to $3.25 in a report on Thursday, June 29th. Finally, TD Securities reiterated a “buy” rating on shares of Eldorado Gold Corporation in a report on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $4.18.

Eldorado Gold Corporation (NYSE EGO) traded down 3.151% during trading on Friday, reaching $2.305. 4,435,953 shares of the company’s stock were exchanged. Eldorado Gold Corporation has a 1-year low of $1.77 and a 1-year high of $4.34. The company’s market capitalization is $1.65 billion. The company’s 50-day moving average is $2.01 and its 200-day moving average is $2.82.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.01 EPS for the quarter. The firm had revenue of $82.70 million for the quarter, compared to the consensus estimate of $104.71 million. Eldorado Gold Corporation had a net margin of 1.00% and a return on equity of 1.41%. The business’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts expect that Eldorado Gold Corporation will post $0.04 earnings per share for the current fiscal year.

About Eldorado Gold Corporation

Eldorado Gold Corporation (Eldorado) is a gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil.

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

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