Eldorado Gold Co. (NYSE:EGO) to Post Q1 2024 Earnings of $0.15 Per Share, Cormark Forecasts

Eldorado Gold Co. (NYSE:EGO - Free Report) TSE: ELD - Stock analysts at Cormark dropped their Q1 2024 earnings estimates for Eldorado Gold in a research note issued on Monday, April 22nd. Cormark analyst R. Gray now expects that the basic materials company will post earnings per share of $0.15 for the quarter, down from their prior forecast of $0.21. The consensus estimate for Eldorado Gold's current full-year earnings is $0.77 per share.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.24 EPS for the quarter, topping 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 business had revenue of $306.90 million for the quarter.

Several other brokerages have also issued reports on EGO. TD Securities lowered their price target on shares of Eldorado Gold from $14.50 to $13.00 and set a "hold" rating on the stock in a research note on Monday, February 26th. National Bank Financial reissued an "outperform spec overweight" rating on shares of Eldorado Gold in a research report on Monday, April 8th. Stifel Canada downgraded shares of Eldorado Gold from a "buy" rating to a "hold" rating in a research report on Friday, January 26th. Stifel Nicolaus reissued a "hold" rating on shares of Eldorado Gold in a research report on Friday, January 26th. Finally, CIBC lifted their price objective on shares of Eldorado Gold from $16.50 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Eldorado Gold currently has an average rating of "Hold" and an average price target of $13.30.

Eldorado Gold Stock Up 1.0 %

EGO stock traded up $0.14 during midday trading on Tuesday, hitting $14.45. The company's stock had a trading volume of 1,217,706 shares, compared to its average volume of 1,701,518. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.39 and a quick ratio of 2.53. Eldorado Gold has a twelve month low of $8.30 and a twelve month high of $16.01. The company's fifty day moving average price is $13.00 and its 200 day moving average price is $12.20. The stock has a market capitalization of $2.95 billion, a P/E ratio of 27.00, a PEG ratio of 6.34 and a beta of 1.10.

Hedge Funds Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in Eldorado Gold in the 4th quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. acquired a new position in Eldorado Gold during the fourth quarter worth $37,000. Tobam purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $68,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Eldorado Gold in the third quarter valued at about $89,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Eldorado Gold in the fourth quarter valued at about $134,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.