Zacks: Analysts Anticipate Eldorado Gold (EGO) to Announce -$0.01 EPS

Wall Street brokerages predict that Eldorado Gold (NYSE:EGO) (TSE:ELD) will announce ($0.01) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Eldorado Gold’s earnings, with estimates ranging from ($0.01) to $0.00. Eldorado Gold posted earnings of $0.01 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 200%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that Eldorado Gold will report full year earnings of $0.02 per share for the current year, with EPS estimates ranging from ($0.05) to $0.08. For the next year, analysts expect that the firm will report earnings of $0.06 per share, with EPS estimates ranging from ($0.06) to $0.16. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Eldorado Gold.

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Several research firms have commented on EGO. TD Securities lowered their price target on Eldorado Gold from $1.60 to $1.20 and set a “hold” rating for the company in a report on Friday, March 23rd. Scotiabank lowered their price target on Eldorado Gold from $2.00 to $1.50 and set a “hold” rating for the company in a report on Friday, March 23rd. Zacks Investment Research cut Eldorado Gold from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Desjardins restated a “hold” rating on shares of Eldorado Gold in a report on Monday, December 11th. Finally, Credit Suisse Group raised Eldorado Gold from an “underperform” rating to a “neutral” rating and set a $1.60 price objective on the stock in a research note on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $1.45.

NYSE:EGO traded up $0.03 during midday trading on Tuesday, hitting $0.84. The company’s stock had a trading volume of 9,691,956 shares, compared to its average volume of 12,109,253. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.46 and a quick ratio of 6.16. The stock has a market capitalization of $666.97, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. Eldorado Gold has a 52-week low of $0.80 and a 52-week high of $3.78.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OTA Financial Group L.P. acquired a new position in shares of Eldorado Gold in the 4th quarter valued at about $200,000. Compagnie Lombard Odier SCmA lifted its stake in shares of Eldorado Gold by 1,830.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 3,908,200 shares of the basic materials company’s stock valued at $5,677,000 after purchasing an additional 3,705,700 shares in the last quarter. Millennium Management LLC lifted its position in Eldorado Gold by 113.7% during the 4th quarter. Millennium Management LLC now owns 1,641,608 shares of the basic materials company’s stock worth $2,347,000 after acquiring an additional 873,469 shares in the last quarter. Paloma Partners Management Co acquired a new position in Eldorado Gold during the 4th quarter worth approximately $754,000. Finally, Two Sigma Securities LLC lifted its position in Eldorado Gold by 133.5% during the 4th quarter. Two Sigma Securities LLC now owns 164,139 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 93,849 shares in the last quarter. 51.61% of the stock is currently owned by institutional investors and hedge funds.

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About Eldorado Gold

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company also explores for iron, silver, lead, and zinc. It holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; 95% interests in Olympias and Skouries, and 100% interests in Perama Hill gold projects in Greece; 81% interests in Certej gold project in Romania; 100% interests in Tocantinzinho gold project in Brazil; 95% interests in Stratoni lead and zinc mines in Greece; and 100% interests in Vila Nova iron ore mine in Brazil.

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Earnings History and Estimates for Eldorado Gold (NYSE:EGO)

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