FY2024 EPS Estimates for Eldorado Gold Raised by Scotiabank

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Research analysts at Scotiabank boosted their FY2024 earnings estimates for Eldorado Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings per share of $1.43 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.

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

Other equities research analysts also recently issued reports about the stock. TD Securities reduced their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com cut shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.88.

Eldorado Gold Stock Performance

NYSE:EGO opened at $16.05 on Friday. The stock’s 50-day moving average is $15.81 and its 200-day moving average is $16.53. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.29 billion, a P/E ratio of 11.98 and a beta of 0.93.

Hedge Funds Weigh In On Eldorado Gold

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

Eldorado Gold Company Profile

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.