Eldorado Gold Co. Forecasted to Earn Q1 2024 Earnings of $0.16 Per Share (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Eldorado Gold in a research note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin expects that the basic materials company will earn $0.16 per share for the quarter. National Bank Financial has a “Outperform Spec Overweight” rating on the stock. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.77 per share. National Bank Financial also issued estimates for Eldorado Gold’s FY2025 earnings at $1.08 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $306.90 million during the quarter. Eldorado Gold had a return on equity of 3.56% and a net margin of 10.54%.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus reissued a “hold” rating on shares of Eldorado Gold in a report on Friday, January 26th. CIBC increased their target price on Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Stifel Canada cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, TD Securities reduced 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, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.30.

Eldorado Gold Stock Performance

NYSE EGO opened at $14.45 on Monday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 6.34 and a beta of 1.10. Eldorado Gold has a twelve month low of $8.30 and a twelve month high of $16.01. The company has a current ratio of 3.39, a quick ratio of 2.53 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $13.07 and a 200 day moving average of $12.23.

Institutional Investors Weigh In On Eldorado Gold

A number of large investors have recently made changes to their positions in EGO. Ninety One UK Ltd purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $32,473,000. Donald Smith & CO. Inc. grew its position in shares of Eldorado Gold by 20.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock valued at $164,825,000 after purchasing an additional 2,136,824 shares in the last quarter. Boston Partners purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $27,167,000. Van ECK Associates Corp grew its position in shares of Eldorado Gold by 10.8% in the third quarter. Van ECK Associates Corp now owns 21,446,611 shares of the basic materials company’s stock valued at $191,091,000 after purchasing an additional 2,094,276 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $24,273,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

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.