Eldorado Gold (NYSE:EGO) Issues Earnings Results

Key Points

• Eldorado Gold reported a quarterly earnings of $0.44 EPS, missing analyst estimates by $0.07, despite achieving $459.53 million in revenue which exceeded expectations of $401.85 million.
• The company's stock rose 2.6% following the earnings announcement, and it currently has a market cap of $4.29 billion, with a P/E ratio of 10.57.
• Analysts have mixed views on Eldorado Gold, with ratings ranging from "hold" to "strong buy" and an average price target of $23.60.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD released its earnings results on Thursday. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07), Zacks reports. Eldorado Gold had a net margin of 26.07% and a return on equity of 8.79%. The firm had revenue of $459.53 million during the quarter, compared to the consensus estimate of $401.85 million.

Eldorado Gold Stock Performance

Eldorado Gold stock traded up $0.28 during midday trading on Wednesday, reaching $23.29. The stock had a trading volume of 2,075,682 shares, compared to its average volume of 1,981,788. The firm's 50-day moving average price is $20.71 and its 200 day moving average price is $18.03. Eldorado Gold has a 12 month low of $13.29 and a 12 month high of $23.39. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $4.73 billion, a PE ratio of 11.70, a P/E/G ratio of 0.36 and a beta of 0.37.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eldorado Gold stock. Goldman Sachs Group Inc. increased its holdings in Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD by 50.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 798,205 shares of the basic materials company's stock after purchasing an additional 266,048 shares during the period. Goldman Sachs Group Inc. owned approximately 0.39% of Eldorado Gold worth $13,426,000 as of its most recent SEC filing. 69.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group dropped their target price on Eldorado Gold from $29.00 to $27.00 and set a "hold" rating on the stock in a report on Monday, May 5th. National Bankshares reaffirmed an "outperform" rating on shares of Eldorado Gold in a research report on Wednesday, July 16th. Scotiabank increased their price target on shares of Eldorado Gold from $16.50 to $19.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. CIBC restated an "outperform" rating on shares of Eldorado Gold in a report on Tuesday, July 15th. Finally, Wall Street Zen raised Eldorado Gold from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.60.

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.