Analysts Set Expectations for Eldorado Gold Q3 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Stifel Canada issued their Q3 2024 earnings per share (EPS) estimates for Eldorado Gold in a research report issued on Monday, October 21st. Stifel Canada analyst I. Rico expects that the basic materials company will post earnings per share of $0.35 for the quarter. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.41 per share. Stifel Canada also issued estimates for Eldorado Gold’s FY2024 earnings at $1.40 EPS.

A number of other equities analysts also recently issued reports on EGO. Royal Bank of Canada increased their price target on Eldorado Gold from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank raised their price objective on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Finally, CIBC raised their price objective on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eldorado Gold currently has an average rating of “Hold” and a consensus target price of $19.38.

Eldorado Gold Price Performance

EGO opened at $17.99 on Wednesday. Eldorado Gold has a 12-month low of $9.72 and a 12-month high of $19.06. The company has a current ratio of 3.62, a quick ratio of 2.65 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $17.47 and its 200-day simple moving average is $16.24. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 31.56 and a beta of 0.95.

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

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in EGO. Van ECK Associates Corp raised its stake in shares of Eldorado Gold by 1.7% in the first quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after purchasing an additional 380,991 shares during the last quarter. Donald Smith & CO. Inc. increased its position in shares of Eldorado Gold by 9.8% in the first quarter. Donald Smith & CO. Inc. now owns 13,948,916 shares of the basic materials company’s stock valued at $196,261,000 after buying an additional 1,240,732 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Eldorado Gold by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,812,900 shares of the basic materials company’s stock valued at $95,858,000 after buying an additional 38,630 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Eldorado Gold by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after buying an additional 136,900 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Eldorado Gold in the first quarter valued at approximately $36,374,000. Institutional investors and hedge funds 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.