Markets

Earnings Estimates Moving Higher for Eldorado Gold (EGO): Time to Buy?

Eldorado Gold Corporation EGO is a gold producing and exploration company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EGO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Eldorado Gold could be a solid choice for investors.

Current Quarter Estimates for EGO

In the past 30 days, two estimates have gone higher for Eldorado Gold while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 11 cents a share 30 days ago, to 14 cents today, a move of 27.3%.

Current Year Estimates for EGO

Meanwhile, Eldorado Gold’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 16 cents per share 30 days ago to 19 cents per share today, an increase of 18.8%.

Eldorado Gold Corporation Price and Consensus

Eldorado Gold Corporation Price and Consensus

Eldorado Gold Corporation price-consensus-chart | Eldorado Gold Corporation Quote

Bottom Line

The stock has also started to move higher lately, adding 10.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

More Stock News: This Is Bigger than the iPhone!  
          
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. 

Click here for the 6 trades >>


Click to get this free report

Eldorado Gold Corporation (EGO): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos