Eldorado Gold Co. (NYSE:EGO) Short Interest Down 13.3% in January

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,810,000 shares, a drop of 13.3% from the January 15th total of 5,550,000 shares. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is currently 3.4 days. Currently, 2.5% of the shares of the company are sold short.

Eldorado Gold Stock Performance

EGO traded down $0.87 on Friday, reaching $13.98. The company had a trading volume of 2,277,635 shares, compared to its average volume of 1,906,451. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The stock has a market capitalization of $2.86 billion, a PE ratio of 10.43 and a beta of 0.93. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $15.25 and a 200-day moving average price of $16.36.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EGO. Scotiabank dropped their target price on Eldorado Gold from $18.50 to $16.50 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. TD Securities dropped their price target on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Eldorado Gold by 29.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 340,812 shares of the basic materials company’s stock valued at $5,070,000 after buying an additional 76,701 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Eldorado Gold during the fourth quarter worth about $1,611,000. Coldstream Capital Management Inc. purchased a new position in Eldorado Gold during the fourth quarter worth about $302,000. TD Waterhouse Canada Inc. raised its holdings in Eldorado Gold by 26.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,252 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 682 shares in the last quarter. Finally, Tradition Wealth Management LLC purchased a new position in Eldorado Gold during the fourth quarter worth about $153,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.