Cormark Issues Negative Estimate for Eldorado Gold Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Analysts at Cormark decreased their Q3 2024 earnings per share estimates for Eldorado Gold in a research report issued on Wednesday, October 23rd. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings per share of $0.28 for the quarter, down from their prior forecast of $0.47. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.42 per share.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The company had revenue of $297.14 million for the quarter. During the same quarter in the prior year, the business earned $0.09 EPS.

Other analysts have also issued reports about the company. CIBC lifted their price target on Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank lifted their price target on Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Royal Bank of Canada lifted their price target on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.38.

Eldorado Gold Stock Down 3.4 %

EGO stock opened at $17.38 on Monday. Eldorado Gold has a twelve month low of $9.72 and a twelve month high of $19.06. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $17.47 and its 200-day moving average is $16.27. The firm has a market capitalization of $3.56 billion, a PE ratio of 20.69 and a beta of 0.95.

Institutional Trading of Eldorado Gold

Large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold in the third quarter worth $32,000. Blue Trust Inc. grew its position in shares of Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 1,336 shares in the last quarter. Tobam grew its position in shares of Eldorado Gold by 14.8% in the second quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 651 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Eldorado Gold in the second quarter valued at $74,000. Finally, Headlands Technologies LLC purchased a new position in shares of Eldorado Gold in the second quarter valued at $97,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.