FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark increased their FY2024 EPS estimates for Eldorado Gold in a research report issued on Thursday, January 16th. Cormark analyst R. Gray now forecasts that the basic materials company will earn $1.52 per share for the year, up from their previous forecast of $1.46. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.46 per share. Cormark also issued estimates for Eldorado Gold’s FY2026 earnings at $2.37 EPS and FY2027 earnings at $3.54 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $331.76 million for the quarter. Eldorado Gold had a return on equity of 6.67% and a net margin of 23.16%. During the same period in the prior year, the business posted $0.17 EPS.

EGO has been the topic of several other research reports. TD Securities dropped their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Scotiabank decreased their price objective 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. Finally, StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from 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 stock opened at $14.80 on Monday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 11.04 and a beta of 0.94. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $15.62 and its 200-day simple moving average is $16.55.

Institutional Investors Weigh In On Eldorado Gold

Several hedge funds and other institutional investors have recently modified their holdings of EGO. Dimensional Fund Advisors LP boosted its holdings in Eldorado Gold by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock valued at $68,149,000 after purchasing an additional 136,900 shares during the period. XTX Topco Ltd raised its position in shares of Eldorado Gold by 30.8% during the second quarter. XTX Topco Ltd now owns 16,450 shares of the basic materials company’s stock valued at $243,000 after buying an additional 3,876 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Eldorado Gold by 6,023.2% in the second quarter. EverSource Wealth Advisors LLC now owns 18,186 shares of the basic materials company’s stock valued at $269,000 after buying an additional 17,889 shares during the period. Point72 DIFC Ltd acquired a new stake in Eldorado Gold during the second quarter worth about $74,000. Finally, Squarepoint Ops LLC bought a new position in Eldorado Gold during the second quarter valued at about $1,002,000. Institutional investors and hedge funds 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.