Eldorado Gold Co. (NYSE:EGO) to Post Q2 2024 Earnings of $0.24 Per Share, Cormark Forecasts

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Investment analysts at Cormark reduced their Q2 2024 earnings per share (EPS) estimates for shares of Eldorado Gold in a note issued to investors on Wednesday, July 24th. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.30. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.23 per share.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Eldorado Gold had a return on equity of 5.82% and a net margin of 15.67%. The business had revenue of $297.14 million during the quarter. During the same quarter in the previous year, the business posted $0.09 EPS.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upgraded shares of Eldorado Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $20.00 in a report on Wednesday, May 29th. CIBC raised their price target on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Finally, Scotiabank boosted their target price on Eldorado Gold from $15.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Eldorado Gold has a consensus rating of “Hold” and an average target price of $16.50.

Eldorado Gold Stock Up 0.4 %

Shares of Eldorado Gold stock opened at $16.62 on Monday. The company has a quick ratio of 2.65, a current ratio of 3.62 and a debt-to-equity ratio of 0.20. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $17.28. The company has a market capitalization of $3.40 billion, a P/E ratio of 29.16, a P/E/G ratio of 0.26 and a beta of 0.92. The company has a 50 day moving average of $15.69 and a 200 day moving average of $14.16.

Institutional Trading of Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in EGO. Parkside Financial Bank & Trust acquired a new stake in shares of Eldorado Gold in the 4th quarter valued at about $35,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Eldorado Gold in the fourth quarter valued at approximately $37,000. Tobam purchased a new position in shares of Eldorado Gold during the fourth quarter worth approximately $68,000. Aigen Investment Management LP acquired a new position in shares of Eldorado Gold in the 4th quarter valued at $134,000. Finally, Sapient Capital LLC purchased a new stake in Eldorado Gold in the 4th quarter valued at $151,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.