Wells Fargo & Company MN Acquires 24,001 Shares of Eldorado Gold Corporation (EGO)

Wells Fargo & Company MN grew its holdings in Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) by 5.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 464,729 shares of the basic materials company’s stock after buying an additional 24,001 shares during the period. Wells Fargo & Company MN owned 0.06% of Eldorado Gold Corporation worth $1,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EGO. Hexavest Inc. raised its position in shares of Eldorado Gold Corporation by 121.5% in the second quarter. Hexavest Inc. now owns 15,523,735 shares of the basic materials company’s stock valued at $41,023,000 after buying an additional 8,515,065 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Eldorado Gold Corporation by 18.7% in the second quarter. Franklin Resources Inc. now owns 50,841,512 shares of the basic materials company’s stock valued at $134,866,000 after buying an additional 8,006,424 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Eldorado Gold Corporation by 83.9% in the second quarter. Intact Investment Management Inc. now owns 5,351,900 shares of the basic materials company’s stock valued at $18,196,000 after buying an additional 2,441,800 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Eldorado Gold Corporation by 106.0% in the second quarter. JPMorgan Chase & Co. now owns 4,337,602 shares of the basic materials company’s stock valued at $11,452,000 after buying an additional 2,232,134 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Eldorado Gold Corporation by 47.8% in the first quarter. Morgan Stanley now owns 5,560,594 shares of the basic materials company’s stock valued at $18,961,000 after buying an additional 1,798,264 shares during the last quarter. Institutional investors and hedge funds own 55.47% of the company’s stock.

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 26th. The basic materials company reported ($0.01) earnings per share for the quarter. Eldorado Gold Corporation had a negative net margin of 5.02% and a positive return on equity of 0.51%. The firm had revenue of $95.35 million during the quarter, compared to analyst estimates of $100.63 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year.

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada cut shares of Eldorado Gold Corporation from an “outperform” rating to a “hold” rating and reduced their target price for the company from $3.00 to $1.75 in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Eldorado Gold Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Bank of America Corporation cut shares of Eldorado Gold Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Eldorado Gold Corporation from a “hold” rating to a “sell” rating in a report on Monday. Finally, TD Securities lowered shares of Eldorado Gold Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.25 to $2.50 in a report on Tuesday, October 24th. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $2.93.

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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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