Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) – Investment analysts at Cormark boosted their Q2 2019 earnings per share (EPS) estimates for Eldorado Gold in a research note issued on Thursday, July 25th. Cormark analyst R. Gray now expects that the basic materials company will earn $0.04 per share for the quarter, up from their previous forecast of ($0.02). Cormark also issued estimates for Eldorado Gold’s Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.17 EPS, Q4 2020 earnings at $0.16 EPS and FY2020 earnings at $0.86 EPS.
Several other equities research analysts also recently weighed in on EGO. TD Securities decreased their price target on Great Canadian Gaming from C$62.00 to C$56.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Zacks Investment Research downgraded Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Monday. National Bank Financial increased their price target on Yamana Gold from C$4.25 to C$4.50 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, CIBC raised Eldorado Gold from an “underperform” rating to a “neutral” rating in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Eldorado Gold has a consensus rating of “Hold” and a consensus price target of $5.76.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.07). The firm had revenue of $80.02 million during the quarter, compared to analyst estimates of $113.85 million. Eldorado Gold had a negative net margin of 97.68% and a negative return on equity of 1.40%.
Hedge funds have recently made changes to their positions in the company. Exane Derivatives purchased a new position in shares of Eldorado Gold in the first quarter valued at $426,000. Norges Bank purchased a new position in shares of Eldorado Gold in the fourth quarter valued at $4,037,000. Donald Smith & CO. Inc. increased its position in shares of Eldorado Gold by 104.7% in the first quarter. Donald Smith & CO. Inc. now owns 4,103,511 shares of the basic materials company’s stock valued at $18,999,000 after buying an additional 2,099,175 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Eldorado Gold in the first quarter valued at $1,947,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Eldorado Gold in the fourth quarter valued at $156,000. Institutional investors and hedge funds own 41.54% of the company’s stock.
Eldorado Gold Company Profile
Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.
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