Eldorado Gold Corp (EGO) Forecasted to Earn FY2017 Earnings of $0.02 Per Share

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) – Equities researchers at Cormark upped their FY2017 earnings estimates for Eldorado Gold in a note issued to investors on Thursday. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings of $0.02 per share for the year, up from their previous forecast of $0.01. Cormark also issued estimates for Eldorado Gold’s FY2018 earnings at ($0.05) EPS and FY2019 earnings at $0.07 EPS.

Several other brokerages have also commented on EGO. Zacks Investment Research upgraded shares of Eldorado Gold from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Credit Suisse Group upgraded shares of Eldorado Gold from an “underperform” rating to a “neutral” rating in a report on Monday, September 25th. TD Securities set a $4.00 price objective on shares of Eldorado Gold and gave the stock a “buy” rating in a report on Friday, October 20th. Royal Bank of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $1.75 in a report on Tuesday, October 24th. Finally, Bank of America downgraded shares of Eldorado Gold from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $1.98.

Eldorado Gold (NYSE EGO) opened at $1.34 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.80 and a quick ratio of 6.16. Eldorado Gold has a 1-year low of $1.10 and a 1-year high of $3.91. The company has a market cap of $1,060.00, a price-to-earnings ratio of -134.00, a price-to-earnings-growth ratio of 5.54 and a beta of 1.12.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported ($0.01) EPS for the quarter. Eldorado Gold had a positive return on equity of 0.51% and a negative net margin of 5.02%. The company had revenue of $95.35 million during the quarter, compared to the consensus estimate of $100.63 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Eldorado Gold by 7.9% during the 3rd quarter. Van ECK Associates Corp now owns 77,400,839 shares of the basic materials company’s stock valued at $170,265,000 after purchasing an additional 5,673,050 shares during the last quarter. Hexavest Inc. grew its position in Eldorado Gold by 3.0% during the 4th quarter. Hexavest Inc. now owns 19,030,386 shares of the basic materials company’s stock valued at $27,340,000 after purchasing an additional 549,135 shares during the last quarter. TD Asset Management Inc. grew its position in Eldorado Gold by 2.3% during the 3rd quarter. TD Asset Management Inc. now owns 7,143,133 shares of the basic materials company’s stock valued at $15,650,000 after purchasing an additional 158,554 shares during the last quarter. Anchor Bolt Capital LP grew its position in Eldorado Gold by 89.1% during the 3rd quarter. Anchor Bolt Capital LP now owns 6,910,852 shares of the basic materials company’s stock valued at $15,204,000 after purchasing an additional 3,256,850 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Eldorado Gold by 10.1% during the 4th quarter. Bank of Montreal Can now owns 6,168,146 shares of the basic materials company’s stock valued at $8,821,000 after purchasing an additional 563,986 shares during the last quarter. 52.90% of the stock is currently owned by hedge funds and other institutional investors.

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About Eldorado Gold

Eldorado Gold Corp is a Canada-based gold exploration, development and mining company. The Company’s geographical segments include Turkey, Brazil, Greece, Romania and Other. The Turkey segment includes the Kisladag and the Efemcukuru mines and exploration activities in Turkey. The Brazil segment includes the Vila Nova mine, the Tocantinzinho project and exploration activities in Brazil.

Earnings History and Estimates for Eldorado Gold (NYSE:EGO)

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