FY2024 EPS Estimates for Eldorado Gold Increased by Analyst

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Scotiabank raised their FY2024 EPS estimates for Eldorado Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings of $1.43 per share for the year, up from their prior forecast of $1.32. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.42 per share.

Several other research firms have also commented on EGO. StockNews.com lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. TD Securities lowered their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of “Hold” and an average price target of $20.88.

Eldorado Gold Price Performance

NYSE EGO opened at $15.97 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.37 and a quick ratio of 2.54. The stock’s fifty day moving average price is $15.80 and its 200 day moving average price is $16.55. Eldorado Gold has a 1 year low of $9.72 and a 1 year high of $19.06. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 11.92 and a beta of 0.93.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $331.76 million during the quarter. Eldorado Gold had a net margin of 23.16% and a return on equity of 6.67%. During the same period last year, the firm earned $0.17 EPS.

Hedge Funds Weigh In On Eldorado Gold

Several institutional investors have recently modified their holdings of EGO. Jennison Associates LLC grew its stake in shares of Eldorado Gold by 65.0% during the third quarter. Jennison Associates LLC now owns 6,032,048 shares of the basic materials company’s stock worth $104,777,000 after purchasing an additional 2,376,241 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Eldorado Gold by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,607,786 shares of the basic materials company’s stock worth $68,149,000 after buying an additional 136,900 shares during the last quarter. Equinox Partners Investment Management LLC grew its stake in shares of Eldorado Gold by 32.0% in the 3rd quarter. Equinox Partners Investment Management LLC now owns 989,376 shares of the basic materials company’s stock valued at $17,185,000 after purchasing an additional 239,800 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Eldorado Gold by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 908,617 shares of the basic materials company’s stock valued at $15,783,000 after purchasing an additional 15,652 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Eldorado Gold by 22.9% in the 3rd quarter. National Bank of Canada FI now owns 638,338 shares of the basic materials company’s stock valued at $11,089,000 after purchasing an additional 118,760 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

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.