Cormark Estimates Eldorado Gold’s FY2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Cormark lifted their FY2024 earnings estimates for shares of Eldorado Gold in a research report issued on Thursday, January 16th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $1.52 per share for the year, up from their previous estimate of $1.46. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.44 per share. Cormark also issued estimates for Eldorado Gold’s FY2026 earnings at $2.37 EPS and FY2027 earnings at $3.54 EPS.

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

Several other equities analysts also recently commented on EGO. TD Securities lowered their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Trading Down 0.4 %

Eldorado Gold stock opened at $14.51 on Monday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 10.82 and a beta of 0.94. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06. The firm has a 50 day moving average of $15.65 and a 200 day moving average of $16.57. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds have recently added to or reduced their stakes in EGO. Financial Management Professionals Inc. purchased a new position in shares of Eldorado Gold during the third quarter valued at $32,000. Blue Trust Inc. lifted its holdings in Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after buying an additional 1,336 shares during the period. Banque Cantonale Vaudoise bought a new stake in Eldorado Gold during the 3rd quarter valued at $36,000. Point72 DIFC Ltd purchased a new position in shares of Eldorado Gold in the 2nd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eldorado Gold in the 2nd quarter worth $191,000. 69.58% of the stock is currently owned by 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.