Cormark Analysts Boost Earnings Estimates for Eldorado Gold Co. (NYSE:EGO)

Posted by on May 4th, 2023

Eldorado Gold Co. (NYSE:EGO – Get Rating) (TSE:ELD) – Equities research analysts at Cormark upped their Q2 2023 earnings per share (EPS) estimates for Eldorado Gold in a note issued to investors on Monday, May 1st. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.11 per share for the quarter, up from their previous estimate of $0.05. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.39 per share. Cormark also issued estimates for Eldorado Gold’s Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.15 EPS, FY2023 earnings at $0.51 EPS, FY2024 earnings at $0.79 EPS and FY2025 earnings at $1.45 EPS.

Eldorado Gold (NYSE:EGO – Get Rating) (TSE:ELD) last posted its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.09. The company had revenue of $246.20 million for the quarter. Eldorado Gold had a positive return on equity of 1.63% and a negative net margin of 1.10%.

EGO has been the topic of several other reports. Bank of America assumed coverage on shares of Eldorado Gold in a research note on Friday, March 10th. They set an “underperform” rating and a $8.90 target price on the stock. Stifel Nicolaus downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. TD Securities boosted their target price on shares of Eldorado Gold from $11.50 to $12.00 and gave the company a “hold” rating in a research note on Monday. National Bank Financial boosted their target price on shares of Eldorado Gold from C$16.50 to C$17.50 in a research note on Tuesday, April 18th. Finally, StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.08.

Eldorado Gold Price Performance

Shares of NYSE:EGO opened at $11.82 on Wednesday. The company’s fifty day moving average is $10.25 and its two-hundred day moving average is $8.78. The company has a quick ratio of 2.06, a current ratio of 3.00 and a debt-to-equity ratio of 0.15. Eldorado Gold has a 12-month low of $5.06 and a 12-month high of $12.07. The company has a market cap of $2.18 billion, a P/E ratio of -295.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.24.

Institutional Investors Weigh In On Eldorado Gold

A number of hedge funds have recently bought and sold shares of EGO. Hollencrest Capital Management acquired a new stake in shares of Eldorado Gold in the 4th quarter valued at $35,000. Optimum Investment Advisors bought a new stake in shares of Eldorado Gold in the fourth quarter valued at about $39,000. Employees Retirement System of Texas bought a new stake in shares of Eldorado Gold in the first quarter valued at about $68,000. New York State Common Retirement Fund lifted its holdings in shares of Eldorado Gold by 76.7% in the third quarter. New York State Common Retirement Fund now owns 8,883 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 3,857 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Eldorado Gold in the first quarter valued at about $95,000. 57.64% of the stock is currently owned by institutional investors.

About Eldorado Gold

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Eldorado Gold Corp. engages in the mining, development, and exploration of gold. It operates through the following segment: Turkey, Canada, and Greece. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.

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Earnings History and Estimates for Eldorado Gold (NYSE:EGO)

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