Scotiabank Brokers Cut Earnings Estimates for Eldorado Gold

Eldorado Gold Corporation (NYSE:EGO) (TSE:ELD) – Equities researchers at Scotiabank decreased their FY2027 EPS estimates for Eldorado Gold in a research report issued to clients and investors on Monday, November 2nd. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $4.74 per share for the year, down from their previous estimate of $5.04. Scotiabank has a “Sector Outperform” rating and a $47.00 price target on the stock. The consensus estimate for Eldorado Gold’s current full-year earnings is $2.71 per share.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Eldorado Gold had a net margin of 31.67% and a return on equity of 10.31%. The business had revenue of $511.90 million during the quarter, compared to analyst estimates of $621.90 million.

EGO has been the subject of several other research reports. Stifel Nicolaus upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a report on Friday, July 31st. Canaccord Genuity Group downgraded Eldorado Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Jefferies Financial Group assumed coverage on Eldorado Gold in a report on Thursday, August 20th. They set a “buy” rating and a $50.00 target price on the stock. Bank of America raised Eldorado Gold from an “underperform” rating to a “buy” rating and increased their price target for the company from $32.00 to $54.00 in a research report on Tuesday, September 22nd. Finally, Zacks Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.57.

Eldorado Gold Trading Up 5.5%

Shares of NYSE:EGO opened at $33.48 on Thursday. The company’s 50-day moving average price is $38.92 and its two-hundred day moving average price is $36.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.42 and a quick ratio of 0.84. Eldorado Gold has a one year low of $25.33 and a one year high of $51.16. The stock has a market capitalization of $8.76 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67.

Eldorado Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 1st. Eldorado Gold’s dividend payout ratio is 10.00%.

Institutional Trading of Eldorado Gold

A number of large investors have recently added to or reduced their stakes in EGO. Van ECK Associates Corp grew its position in shares of Eldorado Gold by 39.0% in the 2nd quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company’s stock valued at $580,739,000 after acquiring an additional 5,241,277 shares during the period. Caisse de depot et placement du Quebec acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $7,356,000. RWC Asset Management LLP acquired a new position in shares of Eldorado Gold during the 3rd quarter worth about $30,549,000. Jupiter Topco LLC bought a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $3,621,000. Finally, Bank of America Corp DE bought a new stake in shares of Eldorado Gold in the 2nd quarter valued at about $18,797,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado’s operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.