Equities Analysts Issue Forecasts for Eldorado Gold Co.’s Q2 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark raised their Q2 2024 earnings estimates for shares of 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 $0.30 per share for the quarter, up from their previous forecast of $0.21. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.73 per share.

A number of other analysts have also commented on the stock. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a research note on Friday, January 26th. Stifel Canada lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a report on Monday, April 8th. TD Securities cut 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. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.30.

Eldorado Gold Stock Performance

Shares of EGO stock opened at $14.41 on Wednesday. The firm has a market capitalization of $2.94 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 6.77 and a beta of 1.10. The firm has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $12.42. The company has a current ratio of 3.50, a quick ratio of 2.52 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 $16.07.

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

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors have recently added to or reduced their stakes in the business. Shell Asset Management Co. lifted its holdings in Eldorado Gold by 8.2% during the third quarter. Shell Asset Management Co. now owns 15,900 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 1,200 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Eldorado Gold by 10.2% during 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 last quarter. Bank of New York Mellon Corp increased its position in shares of Eldorado Gold by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 70,132 shares of the basic materials company’s stock valued at $625,000 after buying an additional 1,630 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of Eldorado Gold during the fourth quarter valued at about $35,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Eldorado Gold during the fourth quarter valued at about $37,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

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.