Cormark Has Optimistic Outlook of Eldorado Gold Q4 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark upped their Q4 2024 earnings per share estimates for Eldorado Gold in a research note issued to investors on Thursday, January 16th. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $0.57 per share for the quarter, up from their previous forecast of $0.51. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.44 per share. Cormark also issued estimates for Eldorado Gold’s Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.84 EPS and FY2025 earnings at $2.00 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The business had revenue of $331.76 million for the quarter. During the same period in the previous year, the firm earned $0.17 EPS.

Several other equities research analysts also recently commented on the company. TD Securities dropped their target price on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Eldorado Gold has a consensus rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Performance

Shares of EGO opened at $14.58 on Friday. Eldorado Gold has a 52 week low of $9.72 and a 52 week high of $19.06. 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 stock has a market cap of $2.99 billion, a P/E ratio of 10.88 and a beta of 0.94. The business’s 50 day moving average price is $15.70 and its 200-day moving average price is $16.55.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in Eldorado Gold during the third quarter valued at $32,000. Blue Trust Inc. lifted its position in shares of Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after buying an additional 1,336 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Eldorado Gold during the 3rd quarter valued at approximately $36,000. Point72 DIFC Ltd purchased a new stake in Eldorado Gold in the 2nd quarter worth approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Eldorado Gold during the 2nd quarter worth approximately $191,000. 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.