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

Eldorado Gold (NYSE:EGO) (TSE:ELD) released its quarterly 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 net margin of 22.15% and a return on equity of 8.89%. The firm had revenue of $575.14 million for the quarter, compared to analysts’ expectations of $500.42 million.

Eldorado Gold Trading Up 1.6%

Shares of EGO opened at $47.62 on Friday. Eldorado Gold has a fifty-two week low of $13.29 and a fifty-two week high of $51.16. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 0.21 and a beta of 0.51. The firm has a 50 day moving average price of $40.53 and a 200-day moving average price of $31.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79.

Eldorado Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, February 27th.

Institutional Trading of Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Eldorado Gold by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after buying an additional 266,048 shares during the period. Geode Capital Management LLC grew its position in Eldorado Gold by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after acquiring an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Eldorado Gold by 1,209.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock worth $6,903,000 after purchasing an additional 313,449 shares during the period. Jump Financial LLC bought a new stake in Eldorado Gold in the second quarter valued at approximately $859,000. Finally, Cerity Partners LLC lifted its position in Eldorado Gold by 15.2% in the second quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock valued at $733,000 after purchasing an additional 4,758 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGO has been the subject of several recent analyst reports. Bank of America boosted their target price on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research report on Monday, December 1st. National Bank Financial reissued an “outperform” rating on shares of Eldorado Gold in a report on Tuesday, November 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Eldorado Gold in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target on the stock. in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.