Eldorado Gold (NYSE:EGO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Eldorado Gold (NYSE:EGO) (TSE:ELD) released 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 net margin of 28.62% and a return on equity of 11.60%.

Eldorado Gold Stock Up 2.5%

NYSE EGO traded up $0.79 during trading on Thursday, reaching $32.76. 3,929,745 shares of the company’s stock were exchanged, compared to its average volume of 1,888,290. The company has a 50 day moving average price of $31.36 and a two-hundred day moving average price of $35.89. The stock has a market cap of $8.56 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.22 and a beta of 0.62. Eldorado Gold has a 1 year low of $20.39 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.18 and a current ratio of 1.62.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EGO shares. ATB Cormark Capital Markets cut Eldorado Gold from a “moderate buy” rating to a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada reduced their price target on shares of Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Zacks Research downgraded shares of Eldorado Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday. TD Securities lowered their price target on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Finally, TD Cowen cut their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $41.83.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently added to or reduced their stakes in EGO. Arrowstreet Capital Limited Partnership lifted 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 worth $156,364,000 after buying an additional 419,576 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 valued at $181,701,000 after acquiring an additional 247,916 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Eldorado Gold by 904.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,811,814 shares of the basic materials company’s stock worth $65,322,000 after purchasing an additional 1,631,373 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Eldorado Gold by 490.6% in the 4th 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 boosted its position in shares of 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 valued at $45,798,000 after purchasing an additional 223,364 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.