Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) – Equities researchers at Desjardins increased their FY2018 earnings per share (EPS) estimates for Eldorado Gold in a report released on Monday, January 7th. Desjardins analyst J. Wolfson now anticipates that the basic materials company will earn ($0.14) per share for the year, up from their previous estimate of ($0.15). Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Eldorado Gold’s Q4 2018 earnings at ($0.08) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.07) EPS, Q3 2019 earnings at ($0.06) EPS and FY2019 earnings at ($0.26) EPS.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets reiterated a “hold” rating on shares of Eldorado Gold in a research report on Monday, December 17th. Canaccord Genuity reiterated a “hold” rating on shares of Eldorado Gold in a research report on Sunday, November 25th. ValuEngine upgraded Eldorado Gold from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. TD Securities cut their price objective on Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating for the company in a research report on Monday, October 29th. Finally, Zacks Investment Research cut Eldorado Gold from a “hold” rating to a “strong sell” rating in a research report on Friday, October 26th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Eldorado Gold has an average rating of “Hold” and an average target price of $1.11.
Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Eldorado Gold had a negative return on equity of 0.27% and a negative net margin of 35.17%. The company had revenue of $81.07 million for the quarter, compared to analysts’ expectations of $107.21 million.
Several hedge funds have recently made changes to their positions in EGO. Tower Research Capital LLC TRC increased its position in shares of Eldorado Gold by 1,257.3% in the third quarter. Tower Research Capital LLC TRC now owns 227,252 shares of the basic materials company’s stock valued at $201,000 after buying an additional 210,509 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Eldorado Gold by 479.6% in the second quarter. Russell Investments Group Ltd. now owns 346,881 shares of the basic materials company’s stock valued at $343,000 after buying an additional 287,028 shares in the last quarter. U S Global Investors Inc purchased a new position in shares of Eldorado Gold in the third quarter valued at $396,000. Cubist Systematic Strategies LLC boosted its stake in shares of Eldorado Gold by 26.0% during the second quarter. Cubist Systematic Strategies LLC now owns 420,255 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 86,696 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Eldorado Gold by 2.5% during the third quarter. Legal & General Group Plc now owns 565,071 shares of the basic materials company’s stock valued at $494,000 after acquiring an additional 13,649 shares during the last quarter.
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 Tocantinzinho gold project in Brazil.
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