Cormark Has Negative Forecast for Eldorado Gold Q3 Earnings

Eldorado Gold Co. (TSE:ELD) (NYSE:EGO) – Equities research analysts at Cormark cut their Q3 2024 EPS estimates for Eldorado Gold in a research report issued to clients and investors on Wednesday, October 23rd. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.39 per share for the quarter, down from their prior estimate of $0.65. The consensus estimate for Eldorado Gold’s current full-year earnings is $2.15 per share.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Eldorado Gold from C$23.00 to C$26.50 in a research note on Tuesday, July 23rd. National Bankshares upped their price objective on Eldorado Gold from C$26.00 to C$27.00 in a research report on Monday, July 29th. Cibc World Mkts upgraded Eldorado Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus increased their target price on shares of Eldorado Gold from C$25.00 to C$28.00 in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$23.76.

Eldorado Gold Trading Down 3.0 %

Shares of ELD stock opened at C$24.18 on Monday. The stock has a market cap of C$4.95 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 56.20 and a beta of 1.22. Eldorado Gold has a 1 year low of C$13.10 and a 1 year high of C$26.32. The company has a current ratio of 3.62, a quick ratio of 2.28 and a debt-to-equity ratio of 20.85. The stock has a 50 day simple moving average of C$23.81 and a 200 day simple moving average of C$22.17.

Eldorado Gold (TSE:ELD) (NYSE:EGO) last announced its earnings results on Thursday, July 25th. The company reported C$0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.09. Eldorado Gold had a net margin of 15.68% and a return on equity of 4.99%. The firm had revenue of C$406.56 million for the quarter.

Insider Activity

In related news, Senior Officer Ryan Swedburg sold 3,553 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$23.43, for a total transaction of C$83,234.71. In related news, Senior Officer Ryan Swedburg sold 3,553 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$23.43, for a total value of C$83,234.71. Also, Senior Officer Karen Christine Aram sold 2,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$24.15, for a total value of C$48,473.47. Over the last 90 days, insiders sold 14,988 shares of company stock valued at $334,328. Insiders own 0.58% of the company’s stock.

About Eldorado Gold

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.