Brokers Issue Forecasts for Eldorado Gold Co.’s Q3 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Cormark upped their Q3 2024 earnings per share estimates for shares of Eldorado Gold in a research note issued on Monday, April 29th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.36 per share for the quarter, up from their previous estimate of $0.20. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.85 per share. Cormark also issued estimates for Eldorado Gold’s Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.32 EPS, FY2025 earnings at $1.27 EPS and FY2026 earnings at $2.19 EPS.

Several other equities research analysts also recently issued reports on EGO. Stifel Canada downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. CIBC raised their price target on Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. StockNews.com raised Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, TD Securities dropped their target price on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.30.

Eldorado Gold Trading Up 1.1 %

Shares of Eldorado Gold stock opened at $14.41 on Thursday. The business has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $12.42. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $16.07. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 5.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings data on Friday, April 26th. The basic materials company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $257.97 million during the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same period in the previous year, the company posted $0.11 EPS.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new position in Eldorado Gold in the fourth quarter valued at about $35,000. C M Bidwell & Associates Ltd. bought a new position in Eldorado Gold in the fourth quarter valued at about $37,000. Tobam bought a new position in Eldorado Gold in the fourth quarter valued at about $68,000. Atria Wealth Solutions Inc. bought a new position in Eldorado Gold in the third quarter valued at about $89,000. Finally, Bank of Nova Scotia grew its position in Eldorado Gold by 10.2% in the third quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 1,343 shares during the last quarter. 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.