New York State Common Retirement Fund Sells 2,273 Shares of Eldorado Gold Co. (NYSE:EGO)

The New York State Common Retirement Fund (NYSCRF) is a public pension fund that manages retirement benefits for state employees and retirees in New York. The fund has a total investment portfolio of over $200 billion and invests in various asset classes, including stocks, bonds, and real estate.

On August 19, 2021, the NYSCRF announced that it had sold 2,273 shares of Eldorado Gold Co. (NYSE: EGO) for a total value of approximately $45 million. The sale was made in accordance with the fund's investment policies and guidelines, which prioritize long-term capital appreciation and risk management.

Eldorado Gold Co. is a gold mining company that operates in South America and Australia. The company has been in operation since 1983 and produces gold, silver, and copper from its mines in Chile and Argentina. In recent years, the company has faced challenges related to declining gold prices and operational issues at some of its mines.

The sale of Eldorado Gold Co. shares by the NYSCRF may be seen as a response to these challenges, as the fund seeks to diversify its portfolio and reduce risk. However, it is important to note that the decision to sell was made based on a thorough analysis of the company's financial performance and prospects, and was not influenced by any external factors or market conditions.

Overall, the sale of Eldorado Gold Co. shares by the NYSCRF is a significant transaction that reflects the fund's ongoing commitment to managing its investments in a responsible and disciplined manner.