Last Updated: 08 Nov 2024
Executive Summary
Eldorado Gold Corp (EGO) is a gold mining company with operations in Turkey, Canada, Greece, Brazil, and Romania. The company has a market capitalization of $3.43 billion and a trailing price-to-earnings (PE) ratio of 11.47. Analysts have a consensus rating of "Buy" on the stock, with an average target price of $21.44. The latest stock price is $16.74.
Company Overview
Eldorado Gold Corp was founded in 1995 and is headquartered in Vancouver, Canada. The company is engaged in the discovery, acquisition, financing, development, production, sale, and recovery of mineral products, primarily gold and silver. Eldorado Gold has a portfolio of 10 operating mines and several development projects. The company's operations are geographically diversified, with approximately 40% of its production coming from Turkey, 30% from Canada, 20% from Greece, and the remaining 10% from Brazil and Romania.
Fundamental Analysis
Eldorado Gold Corp has reported strong financial results in recent quarters. In the third quarter of 2023, the company reported revenue of $1.19 billion, up 0.355% year-over-year. Net income was $276.9 million, up 55.67% year-over-year. Diluted EPS was $1.46, up from $0.94 in the third quarter of 2022.
The company's financial performance is driven by strong gold prices and increased production. Gold prices have been rising in recent years due to concerns about inflation and economic uncertainty. Eldorado Gold has also been able to increase production at its mines, which has helped to boost revenue and profitability.
Technical Analysis
The technical analysis of Eldorado Gold Corp's stock price shows that the stock is in a bullish trend. The stock price has been rising since the beginning of 2023 and is currently trading above its 50-day and 200-day moving averages. The relative strength index (RSI) is also above 50, which indicates that the stock is overbought.
Short Term Outlook
The short-term outlook for Eldorado Gold Corp is positive. The stock price is in a bullish trend and the company is reporting strong financial results. The company is also benefiting from rising gold prices.
Long Term Outlook
The long-term outlook for Eldorado Gold Corp is also positive. The company has a strong portfolio of mines and is well-positioned to benefit from the long-term growth in demand for gold. The company is also investing in new projects, which should help to drive future growth.
Analyst Recommendations
Analysts have a consensus rating of "Buy" on Eldorado Gold Corp's stock. The average target price is $21.44, which represents a potential upside of 28.2% from the current stock price.
