Q3 2018 Earnings Forecast for Eldorado Gold Corp Issued By Cormark (NYSE:EGO)

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) – Cormark lowered their Q3 2018 EPS estimates for shares of Eldorado Gold in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings per share of ($0.03) for the quarter, down from their previous forecast of ($0.02).

EGO has been the topic of several other reports. Zacks Investment Research downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. National Bank Financial assumed coverage on shares of Eldorado Gold in a report on Thursday, October 18th. They set an “outperform” rating on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Eldorado Gold in a report on Monday, October 22nd. TD Securities dropped their price objective on shares of Eldorado Gold from $0.80 to $0.70 and set a “reduce” rating on the stock in a report on Monday, October 29th. Finally, ValuEngine raised shares of Eldorado Gold from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Eldorado Gold presently has an average rating of “Hold” and an average price target of $1.11.

EGO traded down $0.04 during trading on Thursday, hitting $0.66. 6,540,392 shares of the company traded hands, compared to its average volume of 4,649,526. The firm has a market cap of $578.67 million, a P/E ratio of 32.92 and a beta of 1.58. Eldorado Gold has a one year low of $0.65 and a one year high of $1.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.79 and a current ratio of 6.33.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $81.07 million for the quarter, compared to the consensus estimate of $107.21 million. Eldorado Gold had a negative net margin of 35.17% and a negative return on equity of 0.27%.

Several institutional investors have recently made changes to their positions in the company. CIBC World Markets Inc. lifted its holdings in shares of Eldorado Gold by 24.6% in the third quarter. CIBC World Markets Inc. now owns 755,430 shares of the basic materials company’s stock worth $667,000 after buying an additional 149,331 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Eldorado Gold by 180.0% in the third quarter. CIBC Asset Management Inc now owns 1,412,649 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 908,214 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Eldorado Gold by 41.7% in the third quarter. Bank of Montreal Can now owns 9,193,521 shares of the basic materials company’s stock worth $8,119,000 after buying an additional 2,705,113 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Eldorado Gold by 22.6% in the second quarter. Schroder Investment Management Group now owns 5,149,397 shares of the basic materials company’s stock worth $6,093,000 after buying an additional 950,413 shares in the last quarter. Finally, Global X Management Co LLC lifted its holdings in shares of Eldorado Gold by 14.9% in the second quarter. Global X Management Co LLC now owns 1,001,392 shares of the basic materials company’s stock worth $1,012,000 after buying an additional 129,760 shares in the last quarter. 40.12% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Eldorado Gold (NYSE:EGO)

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