Research Analysts Offer Predictions for Eldorado Gold Co.’s Q3 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Analysts at Cormark increased their Q3 2024 earnings estimates for Eldorado Gold in a report issued on Monday, July 29th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.47 per share for the quarter, up from their previous forecast of $0.36. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.28 per share. Cormark also issued estimates for Eldorado Gold’s Q4 2024 earnings at $0.49 EPS and FY2026 earnings at $2.29 EPS.

Several other analysts also recently commented on EGO. Scotiabank raised their price objective on shares of Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada raised shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $14.00 to $20.00 in a research note on Wednesday, May 29th. CIBC increased their price objective on shares of Eldorado Gold from $18.00 to $22.50 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Finally, StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Eldorado Gold Trading Down 1.2 %

Shares of EGO stock opened at $16.76 on Wednesday. Eldorado Gold has a fifty-two week low of $8.30 and a fifty-two week high of $17.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.65 and a current ratio of 3.62. The stock has a 50 day simple moving average of $15.74 and a two-hundred day simple moving average of $14.19. The company has a market cap of $3.43 billion, a P/E ratio of 29.40, a PEG ratio of 0.26 and a beta of 0.92.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The firm had revenue of $297.14 million during the quarter. During the same period last year, the business posted $0.09 earnings per share.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new position in shares of Eldorado Gold in the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Eldorado Gold in the 4th quarter valued at $37,000. Tobam purchased a new stake in Eldorado Gold in the 4th quarter valued at $68,000. Aigen Investment Management LP bought a new position in Eldorado Gold during the 4th quarter valued at $134,000. Finally, Sapient Capital LLC purchased a new position in Eldorado Gold during the 4th quarter worth $151,000. Institutional investors and hedge funds 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.