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Let’s Dive Into The Eldorado Gold Corporation (NYSE: EGO) Stock Forecast.

In the last trading session, 1.21 million Eldorado Gold Corporation (NYSE:EGO) shares changed hands as the company’s beta touched 1.28. With the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 1.21 million Eldorado Gold Corporation (NYSE:EGO) shares changed hands as the company’s beta touched 1.28. With the company’s per share price at $7.20 changed hands at -$0.39 or -5.14% during last session, the market valuation stood at $1.32B. EGO’s last price was a discount, traded about -73.47% off its 52-week high of $12.49. The share price had its 52-week low at $5.06, which suggests the last value was 29.72% up since then. When we look at Eldorado Gold Corporation’s average trading volume, we note the 10-day average is 1.35 million shares, with the 3-month average coming to 1.96 million.

Analysts gave the Eldorado Gold Corporation (EGO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 11 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended EGO as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Eldorado Gold Corporation’s EPS for the current quarter is expected to be $0.15.

Eldorado Gold Corporation (NYSE:EGO) trade information

Instantly EGO was in red as seen at the end of in last trading. With action 5.42%, the performance over the past five days has been green. The drop to weekly highs of 7.76 on Monday, 11/28/22 subtracted -5.14% to the stock’s daily price. The company’s shares are showing year-to-date downside of -22.99%, with the 5-day performance at 5.42% in the green. However, in the 30-day time frame, Eldorado Gold Corporation (NYSE:EGO) is 17.26% up. Looking at the short shares, we see there were 4.94 million shares sold at short interest cover period of 2.45 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.51, meaning bulls need an upside of 24.29% from its current market value. According to analyst projections, EGO’s forecast low is $6.50 with $12.34 as the target high. To hit the forecast high, the stock’s price needs a -71.39% plunge from its current level, while the stock would need to tank 9.72% for it to hit the projected low.

Eldorado Gold Corporation (EGO) estimates and forecasts

Data shows that the Eldorado Gold Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.76% over the past 6 months, a -100.00% in annual growth rate that is considerably lower than the industry average of -5.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Eldorado Gold Corporation will rise 7.10%, while the growth in revenue is estimated to hit 260.00% for the next quarter. Year-over-year growth is forecast to reach -2.70% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $258.1 million. The company’s revenue for the corresponding quarters a year ago was $244.63 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 30.50%. The 2022 estimates are for Eldorado Gold Corporation earnings to decrease by -92.00%, but the outlook for the next 5-year period is at 10.90% per year.

EGO Dividends

Eldorado Gold Corporation is expected to release its next quarterly earnings report between February 22 and February 27.

Eldorado Gold Corporation (NYSE:EGO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.17% of Eldorado Gold Corporation shares while 75.92% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.05%. There are 75.92% institutions holding the Eldorado Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Sep 29, 2022, the company held 10.71% of the shares, roughly 19.79 million EGO shares worth $119.32 million.

Helikon Investments Ltd holds the second largest percentage of outstanding shares, with 9.50% or 17.56 million shares worth $112.18 million as of Jun 29, 2022.

Among Mutual Funds, the top two as of Sep 29, 2022 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 9.48 million shares estimated at $57.14 million under it, the former controlled 5.13% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.43% of the shares, roughly 6.33 million shares worth around $38.16 million.


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