Cormark Predicts Eldorado Gold’s FY2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark boosted their FY2024 EPS estimates for shares of Eldorado Gold in a report released on Thursday, January 16th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $1.52 per share for the year, up from their previous estimate of $1.46. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.46 per share. Cormark also issued estimates for Eldorado Gold’s FY2026 earnings at $2.37 EPS and FY2027 earnings at $3.54 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data 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. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The company had revenue of $331.76 million for the quarter. During the same period in the previous year, the firm posted $0.17 earnings per share.

Several other analysts have also weighed in on the stock. StockNews.com lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Scotiabank decreased their target price on Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Eldorado Gold Stock Up 2.0 %

Shares of NYSE:EGO opened at $14.80 on Monday. Eldorado Gold has a 52 week low of $9.72 and a 52 week high of $19.06. The company has a market capitalization of $3.03 billion, a PE ratio of 11.04 and a beta of 0.94. The company’s fifty day moving average is $15.62 and its 200-day moving average is $16.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EGO. Financial Management Professionals Inc. bought a new position in Eldorado Gold in the third quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in shares of Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Eldorado Gold during the third quarter worth $36,000. Point72 DIFC Ltd bought a new stake in Eldorado Gold in the second quarter valued at about $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Eldorado Gold during the second quarter worth about $191,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Company Profile

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.