Brokers Offer Predictions for Eldorado Gold Co.’s FY2022 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGOGet Rating) (TSE:ELD) – Research analysts at National Bank Financial increased their FY2022 earnings estimates for shares of Eldorado Gold in a report released on Monday, August 1st. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings per share of $0.30 for the year, up from their previous forecast of $0.29. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.25 per share.

Several other equities research analysts have also issued reports on EGO. Stifel Nicolaus decreased their price target on shares of Eldorado Gold from C$20.25 to C$18.00 in a report on Wednesday, July 20th. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “buy” rating and decreased their price target for the company from C$17.00 to C$12.00 in a report on Wednesday, July 20th. Canaccord Genuity Group raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Wednesday, July 20th. TheStreet lowered shares of Eldorado Gold from a “c” rating to a “d+” rating in a report on Wednesday, May 18th. Finally, TD Securities decreased their price target on shares of Eldorado Gold from $8.50 to $7.50 and set a “hold” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.10.

Eldorado Gold Price Performance

EGO stock opened at $6.05 on Thursday. The company has a quick ratio of 2.40, a current ratio of 3.47 and a debt-to-equity ratio of 0.15. Eldorado Gold has a 12 month low of $5.27 and a 12 month high of $12.49. The firm has a market cap of $1.12 billion, a P/E ratio of -2.53 and a beta of 1.38. The company’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $9.01.

Institutional Trading of Eldorado Gold

Several institutional investors have recently made changes to their positions in EGO. Helikon Investments Ltd grew its stake in shares of Eldorado Gold by 43.4% in the 2nd quarter. Helikon Investments Ltd now owns 17,555,160 shares of the basic materials company’s stock worth $112,177,000 after acquiring an additional 5,309,742 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in Eldorado Gold by 133.0% during the first quarter. Donald Smith & CO. Inc. now owns 6,229,275 shares of the basic materials company’s stock valued at $69,830,000 after purchasing an additional 3,556,207 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Eldorado Gold by 20.2% during the first quarter. Van ECK Associates Corp now owns 20,016,110 shares of the basic materials company’s stock valued at $224,380,000 after purchasing an additional 3,364,476 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Eldorado Gold during the second quarter valued at about $11,323,000. Finally, Royal Bank of Canada lifted its holdings in Eldorado Gold by 1,043.9% during the first quarter. Royal Bank of Canada now owns 1,779,308 shares of the basic materials company’s stock valued at $19,945,000 after purchasing an additional 1,623,765 shares during the last quarter. Institutional investors own 58.83% of the company’s stock.

About Eldorado Gold

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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 Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines 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.

Further Reading

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

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