Eldorado Gold Corporation (NYSE: EGO) stock fell -2.02% on Friday to $5.82 against a previous-day closing price of $5.94. With 2.3 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.21 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $6.02 whereas the lowest price it dropped to was $5.65. The 52-week range on EGO shows that it touched its highest point at $12.49 and its lowest point at $5.27 during that stretch. Beta for the stock currently stands at 1.39.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EGO was up-trending over the past week, with a rise of 0.87%, but this was down by -2.35% over a month. Three-month performance dropped to -39.18% while six-month performance fell -33.79%. The stock lost -36.94% in the past year, while it has lost -37.75% so far this year. A look at the trailing 12-month EPS for EGO yields -1.76 with Next year EPS estimates of 0.81. For the next quarter, that number is 0.15. This implies an EPS growth rate of -92.00% for this year and 58.80% for next year. EPS is expected to grow by 10.64% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 30.50%.
Float and Shares Shorts:
At present, 183.78 million EGO shares are outstanding with a float of 168.77 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.63 million, which was 3.05% higher than short shares on Jun 14, 2022. In addition to Mr. George Raymond Burns as the firm’s Pres, CEO & Director, Mr. Philip Chow Yee CA serves as its Exec. VP & CFO.
Through their ownership of 71.45% of EGO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of EGO, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 5.27% stake in EGO, the VanEck Gold Miners ETF is the largest stakeholder. A total of 9,734,470 shares are owned by the mutual fund manager. The BlackRock Global Funds – World Go, which owns about 3.75% of EGO stock, is the second-largest Mutual Fund holder. It holds 6,931,604 shares valued at 44.29 million. VanEck Junior Gold Miners ETF holds 3.57% of the stake in EGO, owning 6,589,290 shares worth 42.11 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, EGO reported revenue of $216.50M and operating income of $28.91M. Over the past year, revenue came in at $892.29M while operating income stood at -$230.37M. It generated -$22.72M net income for the quarter, which came to -$431.76M over the last twelve months. The EBITDA in the recently reported quarter was $84.05M and diluted EPS was -$1.74. EBITDA for the full year was $357.62M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EGO since 11 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EGO analysts setting a high price target of $14.05 and a low target of $7.00, the average target price over the next 12 months is $10.90. Based on these targets, EGO could surge 141.41% to reach the target high and rise by 20.27% to reach the target low. Reaching the average price target will result in a growth of 87.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EGO will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $0.70 being high and $0.10 being low. For EGO, this leads to a yearly average estimate of $0.31. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Eldorado Gold Corporation surprised analysts by -$0.02 when it reported $0.08 EPS against a consensus estimate of $0.10. The surprise factor in the prior quarter was -$0.17. Based on analyst estimates, the high estimate for the next quarter is $0.23 and the low estimate is $0.09. The average estimate for the next quarter is thus $0.17.