Balyasny Asset Management LLC increased its position in shares of Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 43.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,641 shares of the basic materials company’s stock after purchasing an additional 13,889 shares during the quarter. Balyasny Asset Management LLC’s holdings in Eldorado Gold Corporation were worth $120,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Eldorado Gold Corporation by 35.1% during the second quarter. Van ECK Associates Corp now owns 71,727,789 shares of the basic materials company’s stock worth $189,361,000 after purchasing an additional 18,636,491 shares during the last quarter. Franklin Resources Inc. raised its holdings in Eldorado Gold Corporation by 18.7% during the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock worth $134,866,000 after purchasing an additional 8,006,424 shares during the last quarter. Vanguard Group Inc. raised its holdings in Eldorado Gold Corporation by 4.1% during the first quarter. Vanguard Group Inc. now owns 15,831,316 shares of the basic materials company’s stock worth $53,984,000 after purchasing an additional 617,087 shares during the last quarter. Hexavest Inc. raised its holdings in Eldorado Gold Corporation by 121.5% during the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock worth $41,023,000 after purchasing an additional 8,515,065 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Eldorado Gold Corporation by 7.0% during the second 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 purchasing an additional 824,770 shares during the last quarter. 55.07% of the stock is owned by hedge funds and other institutional investors.

EGO has been the subject of several research reports. CIBC cut Eldorado Gold Corporation from a “sector perform” rating to a “sector underperform” rating in a report on Wednesday, June 28th. TD Securities reaffirmed a “buy” rating on shares of Eldorado Gold Corporation in a report on Thursday, June 29th. Royal Bank Of Canada cut Eldorado Gold Corporation from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $3.75 to $3.50 in a report on Thursday, June 29th. Credit Suisse Group cut Eldorado Gold Corporation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $5.25 to $3.25 in a report on Thursday, June 29th. Finally, ValuEngine raised Eldorado Gold Corporation from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.90.

Eldorado Gold Corporation (NYSE:EGO) opened at 2.17 on Friday. Eldorado Gold Corporation has a 52-week low of $1.77 and a 52-week high of $3.91. The firm’s 50-day moving average price is $2.21 and its 200 day moving average price is $2.66. The stock’s market cap is $1.55 billion.

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

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Eldorado Gold Corporation Company Profile

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.

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

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