FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Investment analysts at Cormark upped their FY2024 earnings per share estimates for shares of Eldorado Gold in a research note issued on Wednesday, January 29th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $1.54 for the year, up from their previous estimate 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.

Other research analysts have also recently issued research reports about the company. TD Securities lowered their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Scotiabank lowered their price objective on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.50.

Eldorado Gold Trading Down 0.5 %

EGO opened at $15.09 on Thursday. The stock has a market cap of $3.09 billion, a PE ratio of 11.26 and a beta of 0.94. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $15.55 and a 200-day moving average of $16.50. Eldorado Gold has a 52 week low of $9.72 and a 52 week 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, 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 in the previous year, the business earned $0.17 EPS.

Hedge Funds Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Eldorado Gold by 12.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,300 shares of the basic materials company’s stock valued at $3,376,000 after purchasing an additional 25,300 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Eldorado Gold by 17.5% during the 4th quarter. Jennison Associates LLC now owns 7,090,185 shares of the basic materials company’s stock valued at $105,431,000 after buying an additional 1,058,137 shares during the period. Perpetual Ltd purchased a new position in shares of Eldorado Gold in the 4th quarter worth $425,000. JPMorgan Chase & Co. grew its holdings in shares of Eldorado Gold by 130.7% in the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after acquiring an additional 85,053 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Eldorado Gold by 1.8% in the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after acquiring an additional 15,652 shares during the period. 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.