FY2024 EPS Estimates for Eldorado Gold Lifted by Scotiabank

Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD - Scotiabank increased their FY2024 earnings per share estimates for Eldorado Gold in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings per share of $1.43 for the year, up from their prior forecast of $1.32. The consensus estimate for Eldorado Gold's current full-year earnings is $1.42 per share.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.35 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 firm had revenue of $331.76 million during the quarter. During the same period in the prior year, the business posted $0.17 earnings per share.

Several other brokerages have also issued reports on EGO. TD Securities decreased their target price on Eldorado Gold from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, November 4th. StockNews.com downgraded Eldorado Gold from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $20.88.

Eldorado Gold Stock Down 0.5 %

EGO traded down $0.08 on Friday, hitting $15.97. The company had a trading volume of 787,419 shares, compared to its average volume of 765,937. The stock has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $16.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.92 and a beta of 0.93. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently modified their holdings of EGO. JPMorgan Chase & Co. grew its position in Eldorado Gold by 130.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,107 shares of the basic materials company's stock valued at $2,607,000 after purchasing an additional 85,053 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Eldorado Gold by 1.8% in the third quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company's stock worth $15,783,000 after buying an additional 15,652 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Eldorado Gold by 331.4% during the third quarter. Sanctuary Advisors LLC now owns 138,556 shares of the basic materials company's stock valued at $2,295,000 after buying an additional 106,438 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Eldorado Gold by 84.9% during the third quarter. Toronto Dominion Bank now owns 18,543 shares of the basic materials company's stock valued at $322,000 after acquiring an additional 8,512 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Eldorado Gold by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 95,911 shares of the basic materials company's stock worth $1,675,000 after acquiring an additional 6,629 shares during the last quarter. 69.58% of the stock is currently owned by 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.