FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark raised their FY2024 earnings estimates for shares of Eldorado Gold in a research report issued on Wednesday, January 29th. Cormark analyst R. Gray now expects 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 $1.50 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.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business 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 business posted $0.17 EPS.

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

Eldorado Gold Trading Down 1.3 %

Eldorado Gold stock opened at $15.23 on Thursday. Eldorado Gold has a one year low of $9.72 and a one year high of $19.06. The business’s fifty day moving average is $15.50 and its 200 day moving average is $16.48. The stock has a market capitalization of $3.12 billion, a PE ratio of 11.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in shares of Eldorado Gold by 65.0% in the 3rd quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after acquiring an additional 2,376,241 shares in the last quarter. Millennium Management LLC lifted its position in shares of Eldorado Gold by 230.6% during the second quarter. Millennium Management LLC now owns 188,529 shares of the basic materials company’s stock valued at $2,788,000 after buying an additional 332,913 shares during the last quarter. Equinox Partners Investment Management LLC grew its position in shares of Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock worth $17,185,000 after buying an additional 239,800 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Eldorado Gold during the 3rd quarter worth approximately $2,626,000. Finally, National Bank of Canada FI boosted its stake in Eldorado Gold by 22.9% in the third quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after acquiring an additional 118,760 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.