Why Eldorado Gold (EGO) Stock Is Up Today

NEW YORK (TheStreet) -- Eldorado Gold (EGO) was gaining 6.3% to $7.89 Friday after meeting analysts' expectations in the second quarter and increasing its full-year production guidance.

For the second quarter Eldorado Gold reported earnings of 5 cents a share, in line with the Capital IQ Consensus Estimate. Revenue fell -0.5% from the year-ago quarter to $265.5 million, compared to analysts' estimates of$267.39 million for the quarter.

Eldorado Gold raised its full-year 2014 gold production outlook to 790,000 ounces with average cash costs for commercial production of $495 an ounce and average all-in sustaining cash costs of $850 an ounce. The company previously expected to produce 730,000 to 800,000 ounces of gold for the year with average cash costs of $550 to $590 an ounce and average all-in sustaining cash costs of $915 to $985 an ounce.

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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 disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."

EGO ChartEGO data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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