Stifel Canada Forecasts Stronger Earnings for Eldorado Gold

Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD - Analysts at Stifel Canada increased their FY2024 EPS estimates for Eldorado Gold in a research note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now expects that the basic materials company will post earnings of $1.48 per share for the year, up from their previous forecast of $1.44. The consensus estimate for Eldorado Gold's current full-year earnings is $1.50 per share. Stifel Canada also issued estimates for Eldorado Gold's Q4 2024 earnings at $0.54 EPS.

EGO has been the topic of a number of other reports. TD Securities cut their price objective on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. StockNews.com raised shares of Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Scotiabank decreased their price objective on shares of Eldorado Gold from $18.50 to $16.50 and set a "sector perform" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Eldorado Gold Stock Down 0.7 %

NYSE EGO traded down $0.10 during trading on Thursday, hitting $13.92. 2,278,773 shares of the company traded hands, compared to its average volume of 1,906,451. Eldorado Gold has a 12 month low of $9.72 and a 12 month high of $19.06. The business has a fifty day simple moving average of $15.41 and a 200 day simple moving average of $16.42. The company has a market capitalization of $2.85 billion, a P/E ratio of 10.38 and a beta of 0.93. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Eldorado Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its holdings in shares of Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company's stock worth $3,737,000 after purchasing an additional 804 shares during the period. Blue Trust Inc. increased its stake in Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 1,336 shares during the period. Financial Management Professionals Inc. acquired a new position in Eldorado Gold in the 3rd quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new stake in shares of Eldorado Gold in the 3rd quarter worth approximately $36,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Eldorado Gold by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company's stock worth $2,499,000 after purchasing an additional 2,472 shares in 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.