Eldorado Gold Corporation (TSE:ELD; NYSE:EGO) has seen an upward revision in its earnings per share (EPS) estimates for fiscal year 2026. Analysts at Scotiabank announced on November 28, 2023, that they now project the company will achieve an EPS of $4.47, up from a previous estimate of $4.27. This adjustment comes amid a favorable outlook for the mining and metals sector.
The consensus estimate for Eldorado Gold’s current full-year earnings stands at $2.15 per share, indicating strong growth potential as the company continues to optimize its operations. Multiple analysts have provided insights into the stock’s performance, contributing to a more optimistic sentiment surrounding the company.
Analyst Ratings and Price Target Adjustments
In recent evaluations, Bank of America increased its price target on Eldorado Gold from C$28.50 to C$33.50 as of August 29, 2023. Canaccord Genuity Group upgraded their recommendation from “hold” to “buy” and raised the price objective significantly from C$42.00 to C$54.00 on October 22, 2023. National Bankshares also boosted their price target from C$38.00 to C$41.00, assigning the stock an “outperform” rating in a report released on August 6, 2023. Additionally, BMO Capital Markets adjusted its price target higher from C$50.00 to C$53.00 on November 27, 2023.
Current market sentiment reflects a consensus rating of “Buy,” with an average price target of C$40.08, according to data from MarketBeat. This positive outlook is supported by a range of analysts who have expressed confidence in Eldorado Gold’s growth trajectory.
Stock Performance and Financial Metrics
Eldorado Gold’s stock opened at C$43.01 on November 28, 2023. Over the past year, the company’s shares have fluctuated between a low of C$18.94 and a high of C$44.47. The stock has shown resilience, with a 50-day moving average of C$39.20 and a 200-day moving average of C$33.60.
The company boasts a market capitalization of C$8.65 billion and a price-to-earnings (P/E) ratio of 23.89. Financial ratios reveal a solid quick ratio of 2.28 and a current ratio of 3.37. Additionally, Eldorado Gold maintains a debt-to-equity ratio of 23.28, indicating a manageable level of debt relative to equity.
Eldorado Gold’s most recent quarterly earnings report, released on October 30, 2023, revealed an EPS of C$0.27 and quarterly revenues of C$605.32 million. The company recorded a net margin of 23.32% and a return on equity of 7.60%, demonstrating operational efficiency.
Insider trading activity has also been noteworthy. On November 7, 2023, insider Christian Milau purchased 2,700 shares at an average price of C$36.99, totaling approximately C$99,873. Following this transaction, Milau’s ownership increased by 31.43%, bringing his total holdings to 11,290 shares, valued at around C$417,617.10. Company insiders currently hold 0.58% of Eldorado Gold’s stock.
About Eldorado Gold
Eldorado Gold Corporation is a prominent producer of gold and base metals, with operations spanning Turkey, Canada, Greece, and Romania. The company is known for its high-quality assets and commitment to sustainable practices in partnership with local communities. Key projects include the Kisladag, Efemcukuru, Skouries, Perama Hill, and Certej projects.
As the market continues to respond to these developments, analysts and investors alike will be keeping a close watch on Eldorado Gold’s performance in the coming months.
