Analysts Offer Predictions for Eldorado Gold FY2024 Earnings

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) – Equities research analysts at Stifel Canada lifted their FY2024 earnings estimates for shares of Eldorado Gold in a report released on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the basic materials company will post earnings per share of $1.48 for the year, up from their prior estimate of $1.44. The consensus estimate for Eldorado Gold’s current full-year earnings is $1.50 per share. Stifel Canada also issued estimates for Eldorado Gold’s Q4 2024 earnings at $0.54 EPS.

Several other equities research analysts also recently commented on EGO. Scotiabank cut their target price on shares of Eldorado Gold from $20.00 to $18.50 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. TD Securities cut their target price on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

Eldorado Gold Trading Up 1.7 %

EGO opened at $15.79 on Thursday. The company’s 50 day moving average is $15.49 and its 200-day moving average is $16.46. Eldorado Gold has a 1-year low of $9.72 and a 1-year high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.24 billion, a P/E ratio of 11.78 and a beta of 0.93.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of Eldorado Gold by 0.3% during the 4th quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after acquiring an additional 804 shares during the period. Blue Trust Inc. lifted its position in shares of Eldorado Gold by 232.8% during the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,336 shares during the period. Financial Management Professionals Inc. acquired a new position in Eldorado Gold during the third quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in Eldorado Gold during the third quarter worth $36,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Eldorado Gold by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 169,435 shares of the basic materials company’s stock worth $2,499,000 after buying an additional 2,472 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Eldorado Gold

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.