FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark dropped their FY2024 earnings per share (EPS) estimates for Eldorado Gold in a research note issued on Monday, November 4th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $1.46 per share for the year, down from their previous forecast of $1.56. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.45 per share. Cormark also issued estimates for Eldorado Gold’s FY2025 earnings at $1.87 EPS and FY2027 earnings at $3.17 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same period last year, the company earned $0.17 EPS.

Several other analysts have also recently issued reports on EGO. Royal Bank of Canada increased their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC increased their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Scotiabank increased their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Four investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Down 1.3 %

Shares of NYSE EGO opened at $16.20 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.32 billion, a PE ratio of 12.25 and a beta of 0.95. The stock’s fifty day simple moving average is $17.37 and its two-hundred day simple moving average is $16.37. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06.

Institutional Trading of Eldorado Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EGO. SG Americas Securities LLC raised its stake in Eldorado Gold by 59.6% in the 1st quarter. SG Americas Securities LLC now owns 22,303 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 8,326 shares during the last quarter. Vanguard Group Inc. raised its stake in Eldorado Gold by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock worth $95,858,000 after acquiring an additional 38,630 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Eldorado Gold by 9.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock worth $196,261,000 after acquiring an additional 1,240,732 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in Eldorado Gold by 20.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,137,927 shares of the basic materials company’s stock worth $30,065,000 after acquiring an additional 369,127 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Eldorado Gold by 130.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock worth $890,000 after acquiring an additional 35,820 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.