Research Analysts Offer Predictions for Eldorado Gold Co.’s Q3 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark lifted their Q3 2024 earnings estimates for Eldorado Gold in a report released on Monday, April 29th. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.36 for the quarter, up from their previous forecast of $0.20. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.95 per share. Cormark also issued estimates for Eldorado Gold’s Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.32 EPS, FY2025 earnings at $1.27 EPS and FY2026 earnings at $2.19 EPS.

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

Eldorado Gold Stock Performance

Shares of EGO stock opened at $14.31 on Thursday. The business has a fifty day moving average of $13.58 and a 200 day moving average of $12.45. Eldorado Gold has a 1 year low of $8.30 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.50 and a quick ratio of 2.52. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 4.94 and a beta of 1.12.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Friday, April 26th. The basic materials company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $257.97 million for the quarter. Eldorado Gold had a return on equity of 4.47% and a net margin of 11.43%. During the same quarter in the previous year, the firm posted $0.11 EPS.

Hedge Funds Weigh In On Eldorado Gold

Large investors have recently added to or reduced their stakes in the stock. Helikon Investments Ltd increased its stake in shares of Eldorado Gold by 1.7% during the third quarter. Helikon Investments Ltd now owns 29,438,478 shares of the basic materials company’s stock worth $262,297,000 after purchasing an additional 501,488 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Eldorado Gold by 1.7% in the 1st quarter. Van ECK Associates Corp now owns 22,526,713 shares of the basic materials company’s stock worth $316,950,000 after buying an additional 380,991 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Eldorado Gold by 20.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock worth $164,825,000 after buying an additional 2,136,824 shares during the last quarter. Vanguard Group Inc. increased its stake in Eldorado Gold by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock worth $87,862,000 after buying an additional 79,670 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Eldorado Gold by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,203,248 shares of the basic materials company’s stock valued at $54,517,000 after acquiring an additional 295,282 shares during the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.