Analysts Issue Forecasts for Eldorado Gold FY2024 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at National Bank Financial raised their FY2024 EPS estimates for Eldorado Gold in a research note issued on Wednesday, January 15th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will earn $1.71 per share for the year, up from their prior forecast of $1.62. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.46 per share. National Bank Financial also issued estimates for Eldorado Gold’s FY2025 earnings at $1.63 EPS and FY2026 earnings at $2.26 EPS.

EGO has been the subject of several other research reports. Scotiabank lowered their price target on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating for the company in a report on Tuesday. TD Securities lowered their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and an average target price of $20.50.

Eldorado Gold Stock Performance

Shares of EGO opened at $14.80 on Monday. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The stock has a market capitalization of $3.03 billion, a PE ratio of 11.04 and a beta of 0.94. 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 stock has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $16.55.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the business posted $0.17 earnings per share.

Hedge Funds Weigh In On Eldorado Gold

Several large investors have recently bought and sold shares of EGO. Perpetual Ltd purchased a new position in Eldorado Gold during the 4th quarter worth approximately $425,000. JPMorgan Chase & Co. grew 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 acquiring an additional 85,053 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Eldorado Gold by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock valued at $15,783,000 after acquiring an additional 15,652 shares during the period. Sanctuary Advisors LLC raised its position in Eldorado Gold by 331.4% in the 3rd 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 during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Eldorado Gold by 84.9% during the 3rd quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 8,512 shares during the period. 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.