FY2027 EPS Estimate for Eldorado Gold Decreased by Analyst

Key Points

• Scotiabank lowered Eldorado Gold’s FY2027 EPS estimate to $5.04 from $5.08, while maintaining a “Sector Outperform” rating and a $47 price target.
• Eldorado Gold shares opened at $42.75, up 2.4%, after the company reported quarterly EPS of $0.54, beating consensus by $0.02, though revenue of $487.5 million fell short of estimates.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average target price of $43.00. The company also declared a quarterly dividend of $0.075 per share, representing a 0.7% yield.

Eldorado Gold Corporation (NYSE:EGO - Free Report) TSE: ELD - Equities research analysts at Scotiabank cut their FY2027 earnings per share (EPS) estimates for Eldorado Gold in a research report issued to clients and investors on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings per share of $5.04 for the year, down from their previous estimate of $5.08. Scotiabank has a "Sector Outperform" rating and a $47.00 price objective on the stock. The consensus estimate for Eldorado Gold's current full-year earnings is $3.20 per share.

A number of other brokerages have also recently commented on EGO. Stifel Nicolaus raised Eldorado Gold from a "hold" rating to a "buy" rating in a research report on Friday, July 31st. Weiss Ratings lowered Eldorado Gold from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce upgraded shares of Eldorado Gold from a "neutral" rating to an "outperform" rating in a report on Sunday, August 9th. Zacks Research downgraded Eldorado Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, ATB Cormark Capital Markets lowered shares of Eldorado Gold from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $43.00.

Eldorado Gold Stock Up 2.4%

EGO stock opened at $42.75 on Friday. The stock has a market capitalization of $11.17 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. Eldorado Gold has a 52 week low of $22.53 and a 52 week high of $51.16. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $33.26 and a 200 day moving average of $35.18.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $487.50 million for the quarter, compared to the consensus estimate of $529.92 million. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%.

Institutional Investors Weigh In On Eldorado Gold

A number of institutional investors and hedge funds have recently made changes to their positions in EGO. Headlands Technologies LLC acquired a new stake in Eldorado Gold in the 2nd quarter valued at approximately $350,000. Moore Capital Management LP acquired a new position in Eldorado Gold in the 2nd quarter valued at about $4,045,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eldorado Gold by 72,108.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,318 shares of the basic materials company's stock worth $2,559,000 after purchasing an additional 82,204 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Eldorado Gold by 39.0% in the second quarter. Van ECK Associates Corp now owns 18,678,256 shares of the basic materials company's stock valued at $580,739,000 after purchasing an additional 5,241,277 shares during the period. Finally, Navellier & Associates Inc. grew its holdings in shares of Eldorado Gold by 4.2% in the second quarter. Navellier & Associates Inc. now owns 77,214 shares of the basic materials company's stock valued at $2,401,000 after purchasing an additional 3,136 shares in the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Eldorado Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Eldorado Gold's payout ratio is 10.64%.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source