Q1 2024 Earnings Forecast for Eldorado Gold Co. Issued By Cormark (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Analysts at Cormark reduced their Q1 2024 earnings per share estimates for Eldorado Gold in a report released on Monday, April 22nd. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.15 for the quarter, down from their previous estimate of $0.21. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.77 per share.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $306.90 million for the quarter. Eldorado Gold had a return on equity of 3.56% and a net margin of 10.54%.

A number of other brokerages also recently issued reports on EGO. Stifel Nicolaus reiterated a “hold” rating on shares of Eldorado Gold in a research note on Friday, January 26th. TD Securities cut their price objective on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating for the company in a research note on Monday, February 26th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. CIBC upped their price target on Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Stifel Canada downgraded Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.30.

Eldorado Gold Trading Up 1.0 %

Shares of NYSE:EGO opened at $14.45 on Tuesday. The stock has a 50 day moving average of $13.07 and a 200 day moving average of $12.23. The company has a market cap of $2.95 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 6.34 and a beta of 1.10. The company has a current ratio of 3.39, a quick ratio of 2.53 and a debt-to-equity ratio of 0.18. Eldorado Gold has a 12-month low of $8.30 and a 12-month high of $16.01.

Institutional Trading of Eldorado Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust purchased a new stake in Eldorado Gold during the 4th quarter valued at $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Eldorado Gold during the 4th quarter valued at $37,000. Tobam purchased a new stake in Eldorado Gold during the 4th quarter valued at $68,000. Atria Wealth Solutions Inc. purchased a new stake in Eldorado Gold during the 3rd quarter valued at $89,000. Finally, Bank of Nova Scotia raised its holdings in Eldorado Gold by 10.2% during the 3rd quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after buying an additional 1,343 shares during the period. Hedge funds and other 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.