Cormark Weighs in on Eldorado Gold Co.’s Q2 2023 Earnings (TSE:ELD)

Posted by on May 4th, 2023

Eldorado Gold Co. (TSE:ELD – Get Rating) (NYSE:EGO) – Investment analysts at Cormark boosted their Q2 2023 earnings estimates for Eldorado Gold in a report issued on Monday, May 1st. Cormark analyst R. Gray now expects that the company will post earnings of $0.15 per share for the quarter, up from their previous forecast of $0.07. The consensus estimate for Eldorado Gold’s current full-year earnings is $0.58 per share. Cormark also issued estimates for Eldorado Gold’s Q3 2023 earnings at $0.19 EPS, Q4 2023 earnings at $0.20 EPS, FY2023 earnings at $0.69 EPS, FY2024 earnings at $1.07 EPS and FY2025 earnings at $1.96 EPS.

ELD has been the topic of several other research reports. BMO Capital Markets upped their price objective on shares of Eldorado Gold from C$12.00 to C$14.00 in a report on Friday, February 24th. National Bankshares increased their target price on shares of Eldorado Gold from C$13.50 to C$16.50 and gave the company a “sector perform” rating in a research report on Wednesday, April 5th. Stifel Nicolaus downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$16.00 to C$16.50 in a report on Thursday, April 20th. Finally, National Bank Financial cut shares of Eldorado Gold from an “outperform overweight” rating to a “sector perform spec overwgt” rating in a research note on Monday, January 16th.

Eldorado Gold Stock Performance

Shares of ELD opened at C$16.08 on Wednesday. The firm’s fifty day simple moving average is C$13.92 and its two-hundred day simple moving average is C$11.86. Eldorado Gold has a 12 month low of C$6.87 and a 12 month high of C$16.40. The stock has a market capitalization of C$2.97 billion, a P/E ratio of 160.80, a price-to-earnings-growth ratio of 56.20 and a beta of 1.34. The company has a current ratio of 2.92, a quick ratio of 2.28 and a debt-to-equity ratio of 15.71.

Eldorado Gold (TSE:ELD – Get Rating) (NYSE:EGO) last issued its quarterly earnings data on Thursday, February 23rd. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.12. The company had revenue of C$334.27 million for the quarter. Eldorado Gold had a negative net margin of 1.64% and a positive return on equity of 0.36%.

About Eldorado Gold

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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 Efemcukuru gold mines located in western Turkey; 100% interest in Lamaque gold mines 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.

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Earnings History and Estimates for Eldorado Gold (TSE:ELD)

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