Research Analysts Offer Predictions for Eldorado Gold Co.’s Q1 2024 Earnings (NYSE:EGO)

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Stock analysts at Cormark lowered their Q1 2024 earnings per share estimates for shares of Eldorado Gold in a report released on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.15 per share for the quarter, down from their previous forecast of $0.21. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.73 per share.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.24 earnings per share (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 firm had revenue of $306.90 million during the quarter.

EGO has been the subject of a number of other reports. National Bank Financial restated an “outperform spec overweight” rating on shares of Eldorado Gold in a research note on Monday, April 8th. TD Securities dropped their price objective on Eldorado Gold from $14.50 to $13.00 and set a “hold” rating on the stock in a research note on Monday, February 26th. Stifel Nicolaus restated a “hold” rating on shares of Eldorado Gold in a research note on Friday, January 26th. Stifel Canada lowered Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, CIBC upped their target price on shares of Eldorado Gold from $16.50 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Eldorado Gold currently has an average rating of “Hold” and a consensus target price of $13.30.

Eldorado Gold Stock Performance

EGO opened at $14.34 on Tuesday. The stock has a 50-day moving average of $13.14 and a 200-day moving average of $12.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.53 and a current ratio of 3.39. Eldorado Gold has a 52-week low of $8.30 and a 52-week high of $16.01. The company has a market cap of $2.92 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 6.38 and a beta of 1.10.

Hedge Funds Weigh In On Eldorado Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ninety One UK Ltd acquired a new position in shares of Eldorado Gold in the 4th quarter worth approximately $32,473,000. Donald Smith & CO. Inc. increased its stake in shares of Eldorado Gold by 20.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 12,708,184 shares of the basic materials company’s stock valued at $164,825,000 after buying an additional 2,136,824 shares in the last quarter. Boston Partners bought a new position in shares of Eldorado Gold in the fourth quarter valued at about $27,167,000. Van ECK Associates Corp lifted its position in Eldorado Gold by 10.8% during the 3rd quarter. Van ECK Associates Corp now owns 21,446,611 shares of the basic materials company’s stock worth $191,091,000 after buying an additional 2,094,276 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Eldorado Gold during the 4th quarter worth about $24,273,000. 69.58% of the stock is owned by institutional investors.

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.