FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Cormark lowered their FY2024 earnings estimates for Eldorado Gold in a report released on Monday, November 4th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings per share of $1.46 for the year, down from their previous estimate 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.

A number of other research analysts have also recently weighed in on the stock. CIBC lifted their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their target price on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank increased their price target on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, TD Securities reduced their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.88.

Eldorado Gold Stock Down 0.2 %

Shares of NYSE:EGO opened at $16.42 on Wednesday. The stock has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $16.36. The stock has a market capitalization of $3.36 billion, a P/E ratio of 12.25 and a beta of 0.95. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

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, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period in the prior year, the firm earned $0.17 earnings per share.

Hedge Funds Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Eldorado Gold by 130.6% in the first 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Eldorado Gold during the 2nd quarter valued at approximately $2,238,000. Maverick Capital Ltd. bought a new stake in shares of Eldorado Gold in the second quarter worth $1,256,000. Gabelli Funds LLC increased its holdings in Eldorado Gold by 2.8% in the first quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after buying an additional 55,000 shares during the last quarter. Finally, Equinox Partners Investment Management LLC boosted its holdings in Eldorado Gold by 32.0% in the third quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after purchasing an additional 239,800 shares during the period. 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.