Eldorado Gold (NYSE:EGO) Announces Quarterly Earnings Results

Key Points

• Eldorado Gold exceeded quarterly earnings expectations, reporting EPS of $0.54 versus the consensus estimate of $0.52. The company posted an 11.60% return on equity and a 28.62% net margin.
• Shares rose to $32.76 in Thursday trading, while the company reported solid liquidity and modest leverage, including a current ratio of 1.62 and debt-to-equity ratio of 0.27. Institutional investors own 69.58% of the stock.
• Analyst sentiment remains cautious: Eldorado Gold has a consensus “Hold” rating from MarketBeat, with an average price target of $41.83, despite some analysts maintaining Buy or Strong Buy ratings.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD announced its quarterly earnings results on Thursday. The basic materials company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02, Zacks reports. Eldorado Gold had a return on equity of 11.60% and a net margin of 28.62%.

Eldorado Gold Stock Performance

Eldorado Gold stock traded up $0.79 during mid-day trading on Thursday, hitting $32.76. The company had a trading volume of 3,929,745 shares, compared to its average volume of 1,888,290. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.22 and a beta of 0.62. The company's fifty day moving average is $31.36 and its 200-day moving average is $35.89. Eldorado Gold has a 12-month low of $20.39 and a 12-month high of $51.16.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its holdings in Eldorado Gold by 0.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 63,081 shares of the basic materials company's stock valued at $1,794,000 after purchasing an additional 582 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in Eldorado Gold in the 4th quarter valued at $33,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Eldorado Gold by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,904 shares of the basic materials company's stock worth $428,000 after buying an additional 949 shares in the last quarter. Mariner LLC lifted its stake in shares of Eldorado Gold by 1.3% in the third quarter. Mariner LLC now owns 95,953 shares of the basic materials company's stock worth $2,772,000 after buying an additional 1,222 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in Eldorado Gold during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 69.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGO. ATB Cormark Capital Markets lowered shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating in a report on Monday, May 4th. Citigroup lowered shares of Eldorado Gold to a "sector perform" rating in a research report on Monday, May 4th. Royal Bank Of Canada lowered their target price on shares of Eldorado Gold from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. Bank of America increased their price target on Eldorado Gold from $31.00 to $33.00 and gave the company an "underperform" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.83.

Eldorado Gold Company Profile

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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