Cormark Has Bullish Estimate for Eldorado Gold Q4 Earnings

Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD - Cormark raised their Q4 2024 earnings per share (EPS) estimates for Eldorado Gold in a research note issued on Monday, November 4th. Cormark analyst R. Gray now expects that the basic materials company will earn $0.51 per share for the quarter, up from their previous estimate of $0.49. The consensus estimate for Eldorado Gold's current full-year earnings is $1.45 per share. Cormark also issued estimates for Eldorado Gold's FY2026 earnings at $2.56 EPS.

Eldorado Gold (NYSE:EGO - Get Free Report) 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. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. The company had revenue of $331.76 million during the quarter. During the same period in the prior year, the company posted $0.17 earnings per share.

Several other research firms also recently issued reports on EGO. 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 report on Monday. Royal Bank of Canada boosted their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Scotiabank raised their price objective on shares of Eldorado Gold from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. Finally, CIBC increased their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold currently has a consensus rating of "Hold" and an average target price of $20.88.

Eldorado Gold Price Performance

Shares of NYSE EGO traded down $0.04 during trading on Tuesday, hitting $16.42. The company had a trading volume of 1,840,346 shares, compared to its average volume of 1,521,062. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.54 and a current ratio of 3.37. The company has a market cap of $3.36 billion, a P/E ratio of 12.25 and a beta of 0.95. The business's 50-day moving average is $17.39 and its 200 day moving average is $16.36. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in EGO. Financial Management Professionals Inc. bought a new stake in shares of Eldorado Gold during the 3rd quarter worth $32,000. Blue Trust Inc. boosted its holdings 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. Tobam boosted its holdings in Eldorado Gold by 14.8% during the second quarter. Tobam now owns 5,036 shares of the basic materials company's stock valued at $74,000 after acquiring an additional 651 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Eldorado Gold in the second quarter valued at about $74,000. Finally, Headlands Technologies LLC bought a new position in shares of Eldorado Gold in the second quarter worth about $97,000. 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.