Editor's note: Seeking Alpha is proud to welcome Bujon Capital as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » andyKRAKOVSKI/iStock via Getty Images Thesis Eldorado Gold (NYSE:EGO) is at a turning point in its history as the Skouries project located in Greece is expected to reach first production in Q3-25. Even though El ...

Shares of Eldorado Gold (EGO) scaled a new 52-week high of $18.38 on Aug 20 before ending the session lower at $17.92. The upside was fueled by a spike in gold prices. Eldorado Gold has a market capitalization of $3.7 billion and currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 38.2% year to date, outpacing the industry's 28.6% growth and the S&P 500's 17.7% rise. Meanwhile, the Basic Materials sector has declined 4.2% in the same time frame. Image Source: Zacks Investment Re ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

EX-99.1 2 ego_ex991.htm EX-99.1 EXHIBIT 99.1 Execution Version FIFTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of THE LENDERS FROM TIME TO TIME PARTIES HERETO as Lenders and June 27, 2024 among ELDORADO GOLD CORPORATION as Borrower and ROYAL BANK OF CANADA as Administrative Agent and ROYAL BANK OF CANADA, BMO CAPITAL MARKETS, NATIONAL BANK FINANCIAL MARKETS and CANADIAN IMPERIAL BANK OF COMMERCE as Co-Lead Arrangers, Joint Bookrunners and Co-Syndication Agents Table of Contents | | | Page | | --- | --- ...

Eldorado Gold Corporation (NYSE:EGO) Q2 2024 Earnings Conference Call July 26, 2024 11:30 AM ET Company Participants Lynette Gould - Vice President of Investor Relations, Communications and External Affairs George Burns - President and Chief Executive Officer Paul Ferneyhough - Executive Vice President and Chief Financial Officer Louw Smith - Executive Vice President of Development, Greece Simon Hille - Executive Vice President, Technical Services and Operations Conference Call Participants Mike Parkin - Na ...

Financial Skouries Highlights Growth capital invested totalled $91.9 million in Q2 2024 and $144.4 million during the six months ended June 30, 2024. At June 30, 2024, the growth capital invested towards the overall capital estimate of $920 million totalled $329 million. On-track with milestones in 2024, which include: Process Plant Awarding of the filter facility construction contract Preassembly of the filter press plates and frames - commenced in Q1 2024 Completion of the structural steel Underground Dur ...

Core Viewpoint - Eldorado Gold Corporation reported strong financial and operational results for Q2 2024, with significant increases in gold production and revenue compared to the same period in 2023, driven by higher average realized gold prices and increased sales volumes [24][25][26]. Financial Performance - Revenue for Q2 2024 reached $297.1 million, a 30% increase from $229.0 million in Q2 2023, primarily due to higher average realized gold prices and increased sales volumes [26][35]. - Net earnings attributable to shareholders from continuing operations were $56.4 million, or $0.28 per share, compared to $1.5 million, or $0.01 per share in Q2 2023 [26]. - Adjusted net earnings were $66.6 million, or $0.33 per share, compared to $9.7 million, or $0.05 per share in Q2 2023 [26]. Production and Costs - Gold production totaled 122,319 ounces, a 12% increase from Q2 2023, with notable increases at Lamaque (22%) and Kisladag (14%) [25]. - Total cash costs were $940 per ounce sold, up from $928 per ounce in Q2 2023, attributed to higher royalties and mining costs [25][26]. - All-in sustaining costs (AISC) rose to $1,331 per ounce sold from $1,296 per ounce in Q2 2023, driven by higher total cash costs and sustaining capital expenditures [25][26]. Capital Expenditures - Total capital expenditures for Q2 2024 amounted to $165.7 million, including $91.9 million of growth capital invested at Skouries [25][26]. - Growth capital at operating mines totaled $42.3 million, primarily related to ongoing projects at Kisladag [25]. Operational Outlook - The company maintains its 2024 annual production guidance of 505,000 to 555,000 ounces of gold, with production expected to be weighted towards the second half of the year [25][26]. - Total cash costs for the full year are projected to be between $840 to $940 per ounce sold, with an average AISC of $1,190 to $1,290 per ounce sold [25]. Sustainability and Community Engagement - Eldorado published its Annual Sustainability Report, highlighting its commitment to sustainability and positive scores in external verifications against the Mining Association of Canada's protocols [28]. - The company received AAA scores in various sustainability categories at its Efemcukuru site, indicating excellence in practices [28]. Skouries Project Progress - As of June 30, 2024, the Skouries project was 76% complete, with significant progress in construction and procurement activities [29][30]. - The company expects to complete critical milestones in 2024, including the construction of water management ponds and the process plant [30][31].

Another notable valuation metric for EGO is its P/B ratio of 0.96. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.41. EGO's P/B has been as high as 0.98 and as low as 0.51, with a median of 0.72, over the past year. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify compan ...

Given these factors, it shouldn't be surprising that EGO is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Eldorado Gold Corporation on your short list. Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a ...

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). Earnings growth is arguably the most important factor, as stocks exhibiti ...