Eldorado Gold (NYSE:EGO) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Eldorado Gold (NYSE:EGO) (TSE:ELD) posted its quarterly earnings results on Thursday. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08, Zacks reports. Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%.

Eldorado Gold Price Performance

Shares of EGO stock traded up $0.75 on Thursday, reaching $47.62. The company’s stock had a trading volume of 1,867,726 shares, compared to its average volume of 2,580,579. The company has a market capitalization of $9.46 billion, a P/E ratio of 26.46, a PEG ratio of 0.20 and a beta of 0.51. Eldorado Gold has a 12-month low of $13.29 and a 12-month high of $51.16. The stock’s 50 day simple moving average is $40.28 and its 200-day simple moving average is $31.62. The company has a quick ratio of 2.28, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

Eldorado Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given 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.

Wall Street Analysts Forecast Growth

EGO has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Eldorado Gold in a research report on Wednesday, January 21st. Bank of America increased their price target on Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective for the company. in a report on Tuesday. Scotiabank raised shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Finally, National Bank Financial reiterated an “outperform” rating on shares of Eldorado Gold in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Eldorado Gold by 8.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,413,904 shares of the basic materials company’s stock valued at $156,364,000 after acquiring an additional 419,576 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Eldorado Gold by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,058,449 shares of the basic materials company’s stock worth $181,701,000 after purchasing an additional 247,916 shares during the last quarter. Mackenzie Financial Corp raised its stake in Eldorado Gold by 904.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock valued at $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Millennium Management LLC lifted its position in Eldorado Gold by 490.6% during the fourth quarter. Millennium Management LLC now owns 1,787,062 shares of the basic materials company’s stock valued at $64,193,000 after purchasing an additional 1,484,503 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Eldorado Gold by 21.2% in the 4th quarter. Deutsche Bank AG now owns 1,275,008 shares of the basic materials company’s stock worth $45,798,000 after buying an additional 223,364 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

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.