Eldorado Gold (NYSE:EGO) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Eldorado Gold (NYSE:EGO) (TSE:ELD) released its earnings results on Thursday. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01), Zacks reports. Eldorado Gold had a return on equity of 8.89% and a net margin of 22.15%.The company had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million.

Eldorado Gold Stock Performance

EGO stock traded down $4.54 during trading on Friday, hitting $43.09. 2,623,528 shares of the company traded hands, compared to its average volume of 2,566,397. Eldorado Gold has a 1 year low of $13.29 and a 1 year high of $51.16. The company has a market cap of $8.56 billion, a PE ratio of 24.02, a P/E/G ratio of 0.21 and a beta of 0.51. The stock’s 50-day simple moving average is $40.53 and its 200 day simple moving average is $31.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.28.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 27th.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $33,000. Wexford Capital LP purchased a new position in Eldorado Gold in the third quarter valued at $37,000. Headlands Technologies LLC acquired a new position in shares of Eldorado Gold in the second quarter worth about $32,000. EFG International AG purchased a new stake in shares of Eldorado Gold during the 4th quarter worth about $72,000. Finally, State of Wyoming acquired a new stake in shares of Eldorado Gold during the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EGO shares. Bank of America lifted their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research note on Wednesday, January 21st. Scotiabank raised Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. National Bank Financial reaffirmed an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Finally, Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and a consensus price target of $38.20.

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.