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

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark raised their FY2024 EPS estimates for Eldorado Gold in a research note issued to investors on Thursday, January 16th. Cormark analyst R. Gray now expects that the basic materials company will earn $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 $1.44 per share. Cormark also issued estimates for Eldorado Gold’s FY2026 earnings at $2.37 EPS and FY2027 earnings at $3.54 EPS.

Several other research firms also recently issued reports on EGO. TD Securities decreased their price objective on shares of 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 Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Five equities 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, Eldorado Gold has a consensus rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Trading Down 0.4 %

Shares of Eldorado Gold stock opened at $14.51 on Monday. Eldorado Gold has a fifty-two week low of $9.72 and a fifty-two week high of $19.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a market cap of $2.97 billion, a P/E ratio of 10.82 and a beta of 0.94. The firm has a 50-day simple moving average of $15.65 and a two-hundred day simple moving average of $16.57.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $331.76 million for 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 previous year, the business earned $0.17 EPS.

Institutional Trading of Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Perpetual Ltd purchased a new position in shares of Eldorado Gold during the fourth quarter worth $425,000. JPMorgan Chase & Co. lifted its position in shares of Eldorado Gold by 130.7% during the third quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company’s stock worth $2,607,000 after purchasing an additional 85,053 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Eldorado Gold by 1.8% in the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock valued at $15,783,000 after purchasing an additional 15,652 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Eldorado Gold by 331.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company’s stock worth $2,295,000 after buying an additional 106,438 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Eldorado Gold by 84.9% in the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock valued at $322,000 after buying an additional 8,512 shares during the period. 69.58% of the stock is currently 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.