Cormark Has Optimistic View of Eldorado Gold FY2024 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark lifted their FY2024 EPS estimates for Eldorado Gold in a research note issued to investors on Wednesday, January 29th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $1.54 per share for the year, up from their previous forecast of $1.52. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.49 per share. Cormark also issued estimates for Eldorado Gold’s Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.39 EPS and Q4 2025 earnings at $0.79 EPS.

A number of other research firms also recently issued reports on EGO. StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities cut their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Scotiabank lowered their target price on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Eldorado Gold has an average rating of “Hold” and a consensus price target of $20.50.

Eldorado Gold Stock Performance

Shares of EGO opened at $15.42 on Thursday. The stock has a market capitalization of $3.16 billion, a PE ratio of 11.50 and a beta of 0.94. The business’s fifty day moving average price is $15.53 and its 200 day moving average price is $16.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06.

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

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Eldorado Gold in the 3rd quarter worth approximately $32,000. Blue Trust Inc. lifted its position in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Banque Cantonale Vaudoise bought a new position in Eldorado Gold during the 3rd quarter valued at $36,000. Point72 DIFC Ltd acquired a new position in shares of Eldorado Gold during the 2nd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eldorado Gold in the second quarter valued at $191,000. Institutional investors own 69.58% 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.