Eldorado Gold (NYSE:EGO) Releases Quarterly Earnings Results

Eldorado Gold (NYSE:EGO) (TSE:ELD) posted its earnings results on Thursday. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.71 by $0.24, Zacks reports. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%.

Eldorado Gold Price Performance

Eldorado Gold stock traded up $1.49 during midday trading on Thursday, reaching $31.10. 10,456,334 shares of the stock were exchanged, compared to its average volume of 3,037,583. Eldorado Gold has a 52 week low of $17.18 and a 52 week high of $51.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The firm has a market cap of $6.18 billion, a PE ratio of 12.54, a PEG ratio of 0.14 and a beta of 0.66. The company’s fifty day moving average is $36.62 and its 200-day moving average is $35.48.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Eldorado Gold in a research report on Wednesday, April 15th. TD Cowen reduced their price objective on Eldorado Gold from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. TD Securities decreased their target price 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. Royal Bank Of Canada cut Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, February 17th. Finally, Zacks Research lowered shares of Eldorado Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Eldorado Gold in the fourth quarter worth $302,000. Oxford Asset Management LLP purchased a new position in Eldorado Gold during the second quarter worth about $292,000. Scotia Capital Inc. bought a new position in Eldorado Gold in the 3rd quarter worth about $272,000. Envestnet Asset Management Inc. bought a new position in Eldorado Gold in the 3rd quarter worth about $258,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Eldorado Gold in the 4th quarter valued at about $258,000. 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.