Eldorado Gold (NYSE:EGO) Trading Down 9.2% After Earnings Miss

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) shares fell 9.2% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $42.42 and last traded at $43.2670. 1,099,147 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 2,510,783 shares. The stock had previously closed at $47.63.

The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Eldorado Gold had a net margin of 22.15% and a return on equity of 8.89%. The business had revenue of $575.14 million during the quarter, compared to analyst estimates of $500.42 million.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 27th.

Analyst Ratings Changes

A number of brokerages have issued reports on EGO. Royal Bank Of Canada lowered Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price target for the company. in a research note on Tuesday. Canaccord Genuity Group lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $54.00 target price on shares of Eldorado Gold in a report on Wednesday, February 4th. Scotiabank raised shares of Eldorado Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 26th. Finally, Bank of America lifted their price objective on shares of Eldorado Gold from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Monday, December 1st. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.20.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at $33,000. Flagship Harbor Advisors LLC acquired a new position in Eldorado Gold during the fourth quarter valued at $36,000. Aventura Private Wealth LLC purchased a new stake in Eldorado Gold in the 4th quarter worth about $36,000. Wexford Capital LP acquired a new stake in Eldorado Gold during the 3rd quarter worth about $37,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Eldorado Gold during the 2nd quarter worth about $32,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Eldorado Gold Trading Down 8.8%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.28 and a current ratio of 2.79. The company has a 50 day simple moving average of $40.53 and a two-hundred day simple moving average of $31.73. The company has a market cap of $8.62 billion, a PE ratio of 24.05, a PEG ratio of 0.21 and a beta of 0.51.

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.