Cormark Issues Optimistic Outlook for Eldorado Gold Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark boosted their Q4 2024 earnings estimates for shares of Eldorado Gold in a research note issued on Thursday, January 16th. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.57 per share for the quarter, up from their prior 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 issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. The firm had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the company posted $0.17 earnings per share.

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

Eldorado Gold Stock Performance

EGO stock opened at $14.51 on Friday. Eldorado Gold has a twelve month low of $9.72 and a twelve month high of $19.06. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 10.82 and a beta of 0.94. The business’s fifty day simple moving average is $15.65 and its two-hundred day simple moving average is $16.56. The company has a quick ratio of 2.54, a current ratio of 3.37 and a debt-to-equity ratio of 0.23.

Institutional Trading of Eldorado Gold

A number of hedge funds have recently added to or reduced their stakes in EGO. Perpetual Ltd purchased a new stake in Eldorado Gold during the fourth quarter worth $425,000. JPMorgan Chase & Co. raised its position in shares of Eldorado Gold by 130.7% in the 3rd 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 in the last quarter. Tidal Investments LLC lifted its stake in shares of Eldorado Gold by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock worth $15,783,000 after purchasing an additional 15,652 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Eldorado Gold by 331.4% during the third quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock valued at $2,295,000 after purchasing an additional 106,438 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Eldorado Gold by 84.9% in the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 8,512 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.