Eldorado Gold Reports Strong Quarterly Earnings, Surpassing Expectations

Eldorado Gold (NYSE:EGO - Get Free Report) (TSE:ELD) announced its quarterly earnings on Thursday, revealing promising results for the company. The basic materials firm reported earnings of $0.35 per share for the quarter, exceeding analysts' expectations of $0.33 by a margin of $0.02, as noted by Zacks. The total revenue for the period reached $331.76 million. In terms of profitability, Eldorado Gold posted a net margin of 15.67% and a return on equity of 5.82%. For comparison, during the same quarter last year, the company had earnings of $0.17 per share.

Eldorado Gold Stock Performance

On Friday, Eldorado Gold's stock saw a decline of $1.03, closing at $16.35. The trading volume was notably higher than average, with 3,143,883 shares changing hands compared to the average of 1,519,541 shares. The company's market capitalization stands at $3.35 billion, with a price-to-earnings ratio of 19.52 and a beta of 0.95. The 50-day moving average for the stock is $17.45, while the 200-day moving average is $16.32. Financial ratios show a quick ratio of 2.65, a current ratio of 3.62, and a low debt-to-equity ratio of 0.20. Over the past year, Eldorado Gold's stock reached a low of $9.72 and peaked at $19.06.

Recent Analyst Ratings and Recommendations

In light of these earnings results, Eldorado Gold has attracted attention from several analysts. In a research report published on July 10th, CIBC increased its price target for Eldorado Gold from $18.00 to $22.50, assigning an "outperformer" rating. The Royal Bank of Canada also raised its price objective on September 10th from $20.00 to $22.00, maintaining an "outperform" rating. Additionally, Scotiabank adjusted their price target from $18.00 to $20.00 and set a "sector perform" rating. Presently, four analysts rate the stock as a hold, while two have given it a buy rating. Based on data from MarketBeat.com, the consensus rating stands at "Hold", with an average price target of $19.38.

Eldorado Gold Company Overview

Eldorado Gold Corporation operates in the mining sector, alongside its subsidiaries. The company is engaged in the exploration, development, and sale of mineral products, primarily focusing on gold, with additional outputs including silver, lead, and zinc. Its properties extend across Turkey, Canada, Greece, and Romania. Key assets include a 100% ownership of the Kisladag and Efemçukuru mines in Turkey, the Lamaque complex in Canada, and several gold mines in Greece, as well as an 80.5% interest in the Certej development project in Romania.

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