Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark decreased their FY2020 earnings per share estimates for shares of Eldorado Gold in a research note issued to investors on Thursday, July 11th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.60 per share for the year, down from their previous estimate of $0.63. Cormark also issued estimates for Eldorado Gold’s Q4 2020 earnings at $0.09 EPS.
A number of other equities analysts have also weighed in on EGO. Credit Suisse Group initiated coverage on shares of New Gold in a report on Tuesday, April 16th. They issued a “neutral” rating and a $1.00 price objective for the company. CIBC upgraded shares of Eldorado Gold from an “underperform” rating to a “neutral” rating in a report on Wednesday. ValuEngine upgraded shares of WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Zacks Investment Research upgraded shares of IMI PLC/S from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, TD Securities decreased their price objective on shares of Great Canadian Gaming from C$62.00 to C$56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Eldorado Gold presently has an average rating of “Hold” and a consensus price target of $5.01.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Eldorado Gold had a negative return on equity of 1.40% and a negative net margin of 97.68%. The company had revenue of $80.02 million during the quarter, compared to the consensus estimate of $113.85 million.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. raised its stake in Eldorado Gold by 104.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,103,511 shares of the basic materials company’s stock valued at $18,999,000 after buying an additional 2,099,175 shares during the last quarter. Norges Bank purchased a new stake in Eldorado Gold during the 4th quarter valued at $4,037,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Eldorado Gold by 521.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,213,583 shares of the basic materials company’s stock valued at $5,605,000 after buying an additional 1,018,349 shares during the last quarter. SG Americas Securities LLC raised its stake in Eldorado Gold by 167.5% during the 1st quarter. SG Americas Securities LLC now owns 370,940 shares of the basic materials company’s stock valued at $1,717,000 after buying an additional 920,703 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Eldorado Gold during the 1st quarter valued at $1,947,000. Institutional investors own 41.47% of the company’s stock.
Eldorado Gold Company Profile
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.
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