| Why Eldorado Gold Corp's Stock Is Tumbling Today | |
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What happenedShares of Eldorado Gold Corp. (NYSE: EGO) are falling on Thursday and were down more than 10% at 2:30 p.m. EDT. Driving the sell-off was the company's disappointing fourth-quarter report. So whatEldorado Gold posted a loss of $20.7 million, or $0.03 per share, for the fourth quarter, falling short of the break-even results anticipated by analysts. In addition, even after making adjustments for some asset writedowns, the company still lost about $400,000 during the quarter, a steep drop from the $2.9 million it earned in the year-ago period due to a decline in sales volumes and higher costs, which came in above the company's guidance range. Image source: Getty Images. In addition to those weaker results, the company reported a 10% decline in gold reserves. Driving the drop was the company's decision to go with a different option to develop its Kisladag mine in Turkey, opting to build a mill, which will optimize cash flow and returns at the expense of reserves and higher processing costs. Now whatToday's tumble is more of the same for Eldorado Gold. The stock is now down more than 70% over the past year due to a costly acquisition, production problems, and a dispute with the government of Greece. While the company believes it has a plan to create value going forward, investors seeking a gold stock have better options than Eldorado. More From The Motley Fool Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. |
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Eldorado Gold Corporation
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PRODUCER |
CODE : ELD.TO |
ISIN : CA2849021035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Eldorado Gold is a gold producing company based in Canada. Eldorado Gold produces gold, iron in Brazil, in China, in Mexico and in Turkey, develops gold and silver in China and in Greece, and holds various exploration projects in Brazil and in China. Its main assets in production are KISLADAG and EFEMÇUKURU in Turkey, LA TRINIDAD - ELDORADO in Mexico, TANJIANSHAN, JINFENG, JIANCHALING, WHITE MOUNTAIN and BEYINHAR in China and VILA NOVA in Brazil, its main assets in development are EASTERN DRAGON in China and PERAMA HILL in Greece and its main exploration properties are HEI-SHAN (SHANDONG) and ZHANGJIASHAN in China and TOCANTINZINHO in Brazil. Eldorado Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 14.1 billions as of today (US$ 10.3 billions, € 9.6 billions). Its stock quote reached its lowest recent point on August 03, 2001 at CA$ 0.21, and its highest recent level on April 24, 2024 at CA$ 19.65. Eldorado Gold has 716 820 032 shares outstanding. |