Stifel Canada Estimates Eldorado Gold Q3 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities research analysts at Stifel Canada issued their Q3 2024 earnings estimates for Eldorado Gold in a report released on Monday, October 21st. Stifel Canada analyst I. Rico expects that the basic materials company will post earnings per share of $0.35 for the quarter. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.41 per share. Stifel Canada also issued estimates for Eldorado Gold’s FY2024 earnings at $1.40 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $297.14 million for the quarter. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. During the same quarter in the prior year, the business posted $0.09 earnings per share.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Scotiabank lifted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. CIBC increased their price objective on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their target price on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Eldorado Gold currently has an average rating of “Hold” and an average price target of $19.38.

Eldorado Gold Price Performance

EGO opened at $18.66 on Wednesday. The firm has a market capitalization of $3.82 billion, a PE ratio of 32.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The business’s 50-day moving average is $17.41 and its two-hundred day moving average is $16.19. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its stake in Eldorado Gold by 130.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,246 shares of the basic materials company’s stock valued at $890,000 after purchasing an additional 35,820 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Eldorado Gold in the 2nd quarter worth approximately $2,238,000. Maverick Capital Ltd. purchased a new position in Eldorado Gold during the 2nd quarter worth approximately $1,256,000. Gabelli Funds LLC lifted its stake in Eldorado Gold by 2.8% during the 1st quarter. Gabelli Funds LLC now owns 2,020,000 shares of the basic materials company’s stock valued at $28,421,000 after acquiring an additional 55,000 shares during the period. Finally, Equinox Partners Investment Management LLC lifted its stake in Eldorado Gold by 32.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after acquiring an additional 239,800 shares during the period. 69.58% of the stock is owned by institutional investors and hedge funds.

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.