Eldorado Gold (NYSE:EGO) (TSE:ELD) was the recipient of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 32,523,678 shares, a decrease of 11.9% from the March 15th total of 36,915,474 shares. Based on an average daily trading volume, of 15,158,276 shares, the short-interest ratio is currently 2.1 days. Currently, 4.6% of the company’s stock are short sold.

Shares of NYSE:EGO opened at $0.97 on Tuesday. Eldorado Gold has a 52 week low of $0.80 and a 52 week 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. The company has a market capitalization of $747.16, a price-to-earnings ratio of 48.63, a PEG ratio of 18.82 and a beta of 1.38.

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Several large investors have recently made changes to their positions in EGO. Tower Research Capital LLC TRC increased its position in shares of Eldorado Gold by 4,078.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 63,304 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 61,789 shares during the last quarter. OTA Financial Group L.P. purchased a new position in shares of Eldorado Gold in the 4th quarter valued at $200,000. Two Sigma Securities LLC grew its position in shares of Eldorado Gold by 133.5% in the 4th quarter. Two Sigma Securities LLC now owns 164,139 shares of the basic materials company’s stock valued at $235,000 after buying an additional 93,849 shares during the last quarter. AMP Capital Investors Ltd grew its position in shares of Eldorado Gold by 72.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 167,521 shares of the basic materials company’s stock valued at $367,000 after buying an additional 70,500 shares during the last quarter. Finally, ING Groep NV grew its position in shares of Eldorado Gold by 51.1% in the 4th quarter. ING Groep NV now owns 293,060 shares of the basic materials company’s stock valued at $419,000 after buying an additional 99,108 shares during the last quarter. 51.61% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Bank of America downgraded shares of Eldorado Gold from a “neutral” rating to an “underperform” rating and set a $1.00 price objective on the stock. in a research report on Friday. Scotiabank dropped their price objective on shares of Eldorado Gold from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Friday, March 23rd. TD Securities dropped their price objective on shares of Eldorado Gold from $1.60 to $1.20 and set a “hold” rating on the stock in a research report on Friday, March 23rd. Finally, ValuEngine downgraded shares of Eldorado Gold from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $1.25.

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About Eldorado Gold

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.

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