Eldorado Gold (NYSE:EGO) Announces Earnings Results

Key Points

• Eldorado Gold reported EPS of $0.95 versus consensus $0.71, beating estimates, and the stock traded up 5.0% to $31.10 on heavy volume, with a net margin of 27.89% and ROE of 8.63%.
• The company has a market cap of $6.18 billion with valuation metrics of a P/E of 12.54 and PEG of 0.14, and a conservative balance sheet (debt-to-equity 0.29, current ratio 1.83).
• Analyst sentiment is mixed (1 Strong Buy, 3 Buy, 6 Hold, 1 Sell) with a MarketBeat average rating of "Hold" and a consensus price target of $42, although several firms recently cut targets to $40.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD issued its earnings results on Thursday. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.24, Zacks reports. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%.

Eldorado Gold Trading Up 5.0%

Shares of Eldorado Gold stock traded up $1.49 during trading on Thursday, hitting $31.10. The company's stock had a trading volume of 10,456,334 shares, compared to its average volume of 3,037,583. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.14 and a beta of 0.66. Eldorado Gold has a 52 week low of $17.18 and a 52 week high of $51.16. The stock has a 50-day moving average price of $36.62 and a two-hundred day moving average price of $35.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46.

Analyst Ratings Changes

A number of equities analysts have weighed in on EGO shares. Zacks Research downgraded Eldorado Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. TD Cowen decreased their price target on shares of Eldorado Gold from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Wednesday, April 15th. BMO Capital Markets reissued an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Finally, TD Securities cut their target price on Eldorado Gold from $45.00 to $40.00 and set a "hold" rating for the company in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of "Hold" and a consensus target price of $42.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC bought a new stake in Eldorado Gold during the fourth quarter valued at $33,000. Wexford Capital LP acquired a new stake in Eldorado Gold in the third quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new stake in Eldorado Gold in the 2nd quarter valued at $32,000. EFG International AG acquired a new position in shares of Eldorado Gold during the fourth quarter valued at about $72,000. Finally, State of Wyoming acquired a new position in Eldorado Gold during the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 69.58% of the company's stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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