Cormark Weighs in on Eldorado Gold Co.’s FY2022 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGOGet Rating) (TSE:ELD) – Equities researchers at Cormark cut their FY2022 EPS estimates for shares of Eldorado Gold in a research note issued to investors on Tuesday, January 17th. Cormark analyst R. Gray now forecasts that the basic materials company will earn ($0.02) per share for the year, down from their previous forecast of $0.01. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.02 per share. Cormark also issued estimates for Eldorado Gold’s Q3 2023 earnings at $0.08 EPS, Q4 2023 earnings at $0.08 EPS, FY2023 earnings at $0.30 EPS and FY2024 earnings at $0.69 EPS.

Eldorado Gold (NYSE:EGOGet Rating) (TSE:ELD) last issued its quarterly earnings data on Thursday, October 27th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). Eldorado Gold had a positive return on equity of 0.36% and a negative net margin of 49.76%. The business had revenue of $217.70 million during the quarter.

EGO has been the topic of several other research reports. Canaccord Genuity Group lowered their price objective on shares of Eldorado Gold from C$11.00 to C$10.50 in a research note on Monday, October 31st. National Bank Financial cut shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. StockNews.com initiated coverage on shares of Eldorado Gold in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus decreased their target price on shares of Eldorado Gold from C$17.00 to C$16.50 in a research note on Wednesday, November 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.13.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $9.16 on Friday. The firm’s 50 day moving average price is $8.17 and its 200-day moving average price is $6.73. Eldorado Gold has a twelve month low of $5.06 and a twelve month high of $12.49. The company has a quick ratio of 2.39, a current ratio of 3.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.69 billion, a PE ratio of -3.86 and a beta of 1.24.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors have recently added to or reduced their stakes in EGO. Optimum Investment Advisors purchased a new stake in Eldorado Gold during the 4th quarter valued at approximately $39,000. New York State Common Retirement Fund grew its holdings in Eldorado Gold by 76.7% during the 3rd quarter. New York State Common Retirement Fund now owns 8,883 shares of the basic materials company’s stock valued at $54,000 after buying an additional 3,857 shares in the last quarter. Sargent Bickham Lagudis LLC purchased a new stake in Eldorado Gold during the 3rd quarter valued at approximately $64,000. Bayesian Capital Management LP purchased a new stake in Eldorado Gold during the 3rd quarter valued at approximately $77,000. Finally, Prelude Capital Management LLC purchased a new stake in Eldorado Gold during the 2nd quarter valued at approximately $78,000. 57.64% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Company Profile

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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 Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines 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.

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