Cormark Weighs in on Eldorado Gold Co.’s Q3 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Cormark upped their Q3 2024 earnings per share (EPS) estimates for Eldorado Gold in a report issued on Monday, April 29th. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.36 per share for the quarter, up from their prior 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.

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

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

Eldorado Gold Stock Down 2.3 %

EGO opened at $14.31 on Thursday. Eldorado Gold has a twelve month low of $8.30 and a twelve month high of $16.07. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 4.94 and a beta of 1.12. The firm’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $12.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.52 and a current ratio of 3.50.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently modified their holdings of EGO. Parkside Financial Bank & Trust bought a new stake in Eldorado Gold in the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. acquired a new stake in Eldorado Gold during the 4th quarter valued at $37,000. Tobam acquired a new stake in Eldorado Gold during the 4th quarter valued at $68,000. Atria Wealth Solutions Inc. bought a new position in Eldorado Gold during the third quarter worth $89,000. Finally, Bank of Nova Scotia raised its position in shares of Eldorado Gold by 10.2% in the third quarter. Bank of Nova Scotia now owns 14,553 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the period. 69.58% of the stock is 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.