Eldorado Gold reported earnings of 2 cents a share for the second quarter, above analysts' estimates of 1 cent a share for the quarter. Revenue fell 19.3% year over year to $214.2 million for the quarter, but above analysts' estimates of $213.45 million.
The company produced a total of 181,160 ounces of gold in the second quarter with all in sustaining cash costs of $900 an ounce.
Eldorado Gold said it now expects to produce 690,000 ounces of gold at average cash costs of $590 an ounce and all in sustaining costs of $925 an ounce. The company previously expected to produce between 640,000 and 700,000 ounces of gold in the 2015 at average cash costs of $570 to $615 an ounce and all in sustaining cash costs of $960 to $995 an ounce.
TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: EGO Ratings Report