Analysts Set Expectations for Eldorado Gold Q3 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Analysts at Stifel Canada issued their Q3 2024 earnings per share (EPS) estimates for shares of Eldorado Gold in a research note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico expects that the basic materials company will earn $0.35 per share for the quarter. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.41 per share. Stifel Canada also issued estimates for Eldorado Gold’s FY2024 earnings at $1.40 EPS.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping 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 company earned $0.09 earnings per share.

EGO has been the subject of a number of other reports. StockNews.com upgraded Eldorado Gold from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada increased their target price on Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC increased their target price on Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank increased their target price on Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.38.

Eldorado Gold Trading Down 0.8 %

EGO stock opened at $17.99 on Wednesday. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 31.56 and a beta of 0.95. The business has a 50 day simple moving average of $17.47 and a two-hundred day simple moving average of $16.24.

Institutional Trading of Eldorado Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tobam raised its holdings in Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after buying an additional 651 shares during the period. Blue Trust Inc. increased its stake in Eldorado Gold by 232.8% in the third quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the period. Financial Management Professionals Inc. purchased a new stake in Eldorado Gold in the third quarter worth $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Eldorado Gold by 4.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,980 shares of the basic materials company’s stock worth $679,000 after purchasing an additional 1,858 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Eldorado Gold by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 2,472 shares during the period. Hedge funds and other institutional investors 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.