Earnings To Watch – Eldorado Gold Corporation (NYSE:EGO)

Eldorado Gold Corporation (NYSE:EGO) closed with change of 0.97% to $1.04 with the total traded volume of 14614329 shares versus to an average volume of 10.04M. The stock was down in the 5 days activity -4.59%. The one month performance of stock was low -4.59%. EGO shares are below -17.46% for the quarter and driving a -67.19% over the course of the past year and is now down -27.27% since this point in 2018.  Right now EGO beta is 1.28. The average volatility for the week and month was at 3.83% and 4.24% respectively.

Eldorado Gold Corporation (NYSE:EGO)

Eldorado Gold Corporation, reported the Company’s financial and operational results for the fourth quarter and year ended December 31, 2017.

Financial and Operating Results Overview

Loss attributable to shareholders of $9.9 million ($0.01 per share), compared to loss attributable to shareholders of $344.2 million ($0.48 per share) in 2016. Adjusted net earnings of $15.2 million ($0.02 per share) 1 compared to an adjusted net earnings of $47.4 million ($0.07 per share) in 2016.

Full year gold production of 292,971 ounces, including Olympias pre-commercial production and 7,061 ounces of gold produced from a bulk sample at our newly acquired Lamaque project in Quebec (2016: 312,299 ounces from continuing operations).

Gross profit from gold mining operations of $121.2 million (2016: $158.7 million from continuing operations).

Gold revenues of $333.3 million on sales of 264,080 ounces at an average realized gold price of $1,262 per ounce.

All-in sustaining cash costs averaged $922 per ounce1, slightly higher than guidance of $915 per ounce.

Cash operating costs averaged $509 per ounce1; compared to revised 2017 guidance of $500 per ounce.

The Company held $485 million in cash, cash equivalents and term deposits, and $250 million in undrawn lines of credit at year end.

Completed acquisition of Integra Gold Corp. (“Integra”), for a total consideration of $357 million, inclusive of Integra shares held by Eldorado. Commenced pre-feasibility work (including test mining), and advanced construction of the Lamaque mine and refurbishment of the associated Sigma mill.

Hellas Gold S.A., Eldorado’s Greek subsidiary, entered into arbitration proceedings with the Greek Government; the proceedings are expected to conclude by April 6, 2018.

In November, announced the intention to move the Skouries project into care and maintenance due to continued permitting delays. Skouries is expected to be fully ramped down shortly.

Olympias Phase II commissioning was completed and commercial production was achieved on December 31, 2017.

Continued exploration success at Lamaque (Canada), Bolcana (Romania), Efemcukuru (Turkey), and Stratoni (Greece), with a total of 114,900 meters of drilling completed in 2017.

Continued improvement to the overall safety record with a reduction in the total recordable injury frequency rate (for continuous operations) for the fourth consecutive year to 6.61 from 7.18 in 2016.

George Burns appointed President and CEO in April 2017.

Reconfigured the Board of Directors with retirements of Paul Wright and Jonathan Rubenstein and the appointment of Dr. George Albino as the new Chair.

Shares of Eldorado Gold Corporation have been recently spotted trading -72.49% off of the 52-week high price. On the other end, company shares have been noted 0.97% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 1.03 – 3.78. Switching over to some distances from popular moving averages, we see that the stock has been recorded -12.81% away from the 50 day moving average and -41.01% away from the 200 day moving average. Moving closer, we can see that shares have been trading -4.54% off of the 20-day moving average.

Peter Hamm

Peter Hamm is an author, journalist and CEO of the website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. He has always been interested in the stock market and how it behaves. As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Peter observations and experience give him the insight to stock market patterns and the investor behaviors that create them. He reports about Earnings news category. Address: 3876 Levy Court, EASTON, Pennsylvania Email: Peter@newscontrol.info

Leave a Reply

Your email address will not be published. Required fields are marked *