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

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

Eldorado Gold Stock Performance

Shares of EGO opened at $16.35 on Friday. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06. The stock has a market cap of $3.35 billion, a P/E ratio of 19.46 and a beta of 0.95. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $17.42 and a two-hundred day moving average of $16.33.

Analysts Set New Price Targets

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

About Eldorado Gold

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.