The JPMorgan Chase & Co. decreases its position in Eldorado Gold Corp. (EGO)

The JPMorgan Chase & Co. decreases its position in Eldorado Gold Corp. (EGO)

JPMorgan Chase & Co. reduced its stake in shares of Eldorado Gold Corp. (NYSE:EGO) by 56.5% during the second quarter, Holdings Channel reports. The firm owned 1,191,657 shares of the company’s stock after selling 1,550,686 shares during the period. JPMorgan Chase & Co. owned about 0.17% of Eldorado Gold Corp. worth $5,363,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Eldorado Gold Corp. by 43.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 29,811 shares of the company’s stock valued at $134,000 after buying an additional 8,960 shares during the period. World Asset Management Inc boosted its stake in Eldorado Gold Corp. by 7.5% in the second quarter. World Asset Management Inc now owns 44,594 shares of the company’s stock valued at $201,000 after buying an additional 3,110 shares during the period. Hanseatic Management Services Inc. purchased a new stake in Eldorado Gold Corp. during the second quarter valued at approximately $327,000. Creative Planning boosted its stake in Eldorado Gold Corp. by 3.5% in the second quarter. Creative Planning now owns 104,802 shares of the company’s stock valued at $472,000 after buying an additional 3,504 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Eldorado Gold Corp. during the second quarter valued at approximately $581,000. 55.36% of the stock is owned by institutional investors.

Eldorado Gold Corp. (NYSE:EGO) traded down 0.84% during midday trading on Thursday, reaching $3.54. The company’s stock had a trading volume of 1,140,949 shares. The company’s market cap is $2.53 billion. The stock has a 50-day moving average price of $3.71 and a 200 day moving average price of $4.07. Eldorado Gold Corp. has a 12 month low of $1.87 and a 12 month high of $5.16.

Eldorado Gold Corp. (NYSE:EGO) last posted its earnings results on Thursday, July 28th. The company reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Eldorado Gold Corp. had a negative net margin of 244.47% and a negative return on equity of 0.36%. The firm had revenue of $107 million for the quarter, compared to analysts’ expectations of $190.99 million. During the same quarter last year, the firm earned $0.02 EPS. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Analysts expect that Eldorado Gold Corp. will post $0.08 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on EGO shares. HSBC restated a “buy” rating on shares of Eldorado Gold Corp. in a research report on Thursday, July 7th. Zacks Investment Research upgraded Eldorado Gold Corp. from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a report on Wednesday, August 31st. Goldman Sachs Group Inc. upgraded Eldorado Gold Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.40 to $5.00 in a report on Wednesday, August 10th. Bank of America Corp. raised Eldorado Gold Corp. from an “underperform” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday, September 14th. Finally, TD Securities reaffirmed a “buy” rating and issued a $6.00 target price on shares of Eldorado Gold Corp. in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $5.40.

Eldorado Gold Corp. Company Profile

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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