Q1 2024 Earnings Forecast for Eldorado Gold Co. (NYSE:EGO) Issued By Cormark

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Cormark cut their Q1 2024 earnings estimates for Eldorado Gold in a research report issued on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.77 per share.

A number of other equities analysts have also commented on EGO. Stifel Nicolaus reissued a “hold” rating on shares of Eldorado Gold in a research report on Friday, January 26th. Stifel Canada lowered shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. TD Securities dropped their target price on shares of Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research report on Monday, February 26th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Eldorado Gold in a research report on Monday, April 8th. Finally, CIBC boosted their target price on shares of Eldorado Gold from $16.50 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.30.

Eldorado Gold Trading Down 4.9 %

NYSE:EGO opened at $14.31 on Tuesday. Eldorado Gold has a 12 month low of $8.30 and a 12 month high of $16.01. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 6.34 and a beta of 1.10. The company has a quick ratio of 2.53, a current ratio of 3.39 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $13.00 and its 200-day moving average is $12.20.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Eldorado Gold had a net margin of 10.54% and a return on equity of 3.56%. The company had revenue of $306.90 million for the quarter.

Institutional Investors Weigh In On Eldorado Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Eldorado Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,774,270 shares of the basic materials company’s stock valued at $87,862,000 after buying an additional 79,670 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Eldorado Gold in the 4th quarter valued at $37,000. CIBC Asset Management Inc increased its holdings in Eldorado Gold by 3.6% in the 4th quarter. CIBC Asset Management Inc now owns 200,114 shares of the basic materials company’s stock valued at $2,606,000 after buying an additional 6,926 shares during the period. TD Asset Management Inc increased its holdings in Eldorado Gold by 0.8% in the 4th quarter. TD Asset Management Inc now owns 533,641 shares of the basic materials company’s stock valued at $6,961,000 after buying an additional 4,478 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Eldorado Gold in the 4th quarter valued at $134,000. 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.