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

Eldorado Gold (NYSE:EGO) (TSE:ELD) posted its earnings results on Thursday. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, Zacks reports. The company had revenue of $331.76 million for the quarter. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. During the same quarter in the prior year, the company earned $0.17 EPS.

Eldorado Gold Stock Performance

EGO traded down $1.03 during trading on Friday, hitting $16.35. 3,143,883 shares of the company traded hands, compared to its average volume of 1,519,541. The firm has a market cap of $3.35 billion, a P/E ratio of 19.52 and a beta of 0.95. The stock’s fifty day moving average is $17.45 and its 200 day moving average is $16.32. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. Eldorado Gold has a one year low of $9.72 and a one year high of $19.06.

Analyst Ratings Changes

EGO has been the topic of several analyst reports. CIBC lifted their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank raised their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.38.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.