Scotiabank Lowers Earnings Estimates for Eldorado Gold

Key Points

• Scotiabank lowered Eldorado Gold’s FY2027 EPS forecast to $4.74 from $5.04, while keeping its Sector Outperform rating and $47 price target.
• The company’s latest quarter fell short of expectations, reporting EPS of $0.49 versus $0.53 expected and revenue of $511.9 million versus $621.9 million expected.
• Analyst views remain mixed, but the overall consensus is Moderate Buy, with a consensus price target of $46.57.

Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD - Equities research analysts at Scotiabank lowered their FY2027 EPS estimates for shares of Eldorado Gold in a report released on Monday, November 2nd. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings per share of $4.74 for the year, down from their prior forecast of $5.04. Scotiabank currently has a "Sector Outperform" rating and a $47.00 price target on the stock. The consensus estimate for Eldorado Gold's current full-year earnings is $2.71 per share.

A number of other equities analysts have also recently weighed in on EGO. Weiss Ratings cut shares of Eldorado Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Bank of America upgraded shares of Eldorado Gold from an "underperform" rating to a "buy" rating and upped their price objective for the company from $32.00 to $54.00 in a research report on Tuesday, September 22nd. Zacks Research cut shares of Eldorado Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "buy" rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Eldorado Gold from a "hold" rating to a "sell" rating in a report on Saturday, October 31st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eldorado Gold presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.57.

Eldorado Gold Stock Up 5.5%

Shares of NYSE:EGO opened at $33.48 on Thursday. Eldorado Gold has a 52 week low of $25.33 and a 52 week high of $51.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.84 and a current ratio of 1.42. The company has a market capitalization of $8.76 billion, a PE ratio of 11.16, a PEG ratio of 0.33 and a beta of 0.67. The company has a 50 day moving average price of $38.92 and a two-hundred day moving average price of $36.78.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last released its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $511.90 million for the quarter, compared to the consensus estimate of $621.90 million. Eldorado Gold had a return on equity of 10.31% and a net margin of 31.67%.

Eldorado Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.0750 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. Eldorado Gold's payout ratio is presently 10.00%.

Institutional Investors Weigh In On Eldorado Gold

Large investors have recently made changes to their positions in the stock. AlphaCore Capital LLC boosted its position in shares of Eldorado Gold by 13.9% during the third quarter. AlphaCore Capital LLC now owns 47,876 shares of the basic materials company's stock worth $1,843,000 after buying an additional 5,845 shares during the period. Leuthold Group LLC grew its holdings in shares of Eldorado Gold by 7.8% during the third quarter. Leuthold Group LLC now owns 179,286 shares of the basic materials company's stock worth $6,901,000 after buying an additional 13,019 shares in the last quarter. Beverly Hills Private Wealth LLC grew its holdings in shares of Eldorado Gold by 63.6% during the third quarter. Beverly Hills Private Wealth LLC now owns 78,756 shares of the basic materials company's stock worth $3,031,000 after buying an additional 30,627 shares in the last quarter. Candriam S.C.A. raised its position in Eldorado Gold by 583.1% in the 3rd quarter. Candriam S.C.A. now owns 243,000 shares of the basic materials company's stock valued at $9,387,000 after buying an additional 207,426 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Eldorado Gold by 977.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,142 shares of the basic materials company's stock valued at $44,000 after buying an additional 1,036 shares during the last quarter. Institutional investors own 69.58% of the company's stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canadian mining company focused on the exploration, development and operation of gold properties. The company produces gold and related by-products, including silver, and manages a portfolio of mines and development projects in Türkiye, Greece and Canada.

Eldorado's operations and projects include the Kisladag and Efemcukuru gold mines in Türkiye, the Olympias polymetallic mine and Skouries copper-gold project in Greece, and the Lamaque gold operation in Quebec, Canada.

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