FY2024 Earnings Forecast for Eldorado Gold Issued By Cormark

Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD - Research analysts at Cormark lowered their FY2024 earnings per share (EPS) estimates for shares of Eldorado Gold in a note issued to investors on Monday, November 4th. Cormark analyst R. Gray now expects that the basic materials company will earn $1.46 per share for the year, down from their previous forecast of $1.56. The consensus estimate for Eldorado Gold's current full-year earnings is $1.45 per share. Cormark also issued estimates for Eldorado Gold's FY2025 earnings at $1.87 EPS and FY2027 earnings at $3.17 EPS.

Eldorado Gold (NYSE:EGO - Get Free Report) 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, topping the consensus estimate of $0.33 by $0.02. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The business had revenue of $331.76 million for the quarter. During the same quarter in the previous year, the business posted $0.17 EPS.

A number of other equities research analysts also recently weighed in on EGO. TD Securities decreased their target price on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday. Royal Bank of Canada boosted their price objective on Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. CIBC raised their target price on Eldorado Gold from $18.00 to $22.50 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Finally, Scotiabank boosted their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Eldorado Gold has a consensus rating of "Hold" and an average price target of $20.88.

Eldorado Gold Stock Performance

Shares of NYSE:EGO traded down $0.21 on Wednesday, hitting $16.20. 1,481,979 shares of the company were exchanged, compared to its average volume of 1,523,354. The company's 50 day moving average price is $17.37 and its two-hundred day moving average price is $16.37. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 12.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. Eldorado Gold has a one year low of $9.72 and a one year high of $19.06.

Institutional Investors Weigh In On Eldorado Gold

Several large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Eldorado Gold during the 3rd quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in shares of Eldorado Gold by 232.8% during the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company's stock worth $33,000 after purchasing an additional 1,336 shares during the last quarter. Tobam increased its stake in shares of Eldorado Gold by 14.8% in the second quarter. Tobam now owns 5,036 shares of the basic materials company's stock valued at $74,000 after buying an additional 651 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold in the second quarter valued at $74,000. Finally, Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter valued at about $97,000. Institutional investors 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.