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 ...

Core Viewpoint - Eldorado Gold Corporation (EGO) has shown significant stock performance, with a 12.9% increase over the past month and a 27.9% gain since the beginning of the year, outperforming both the Zacks Basic Materials sector and the Zacks Mining - Gold industry [1][8]. Company Performance - Eldorado Gold reported an EPS of $0.27 in its last earnings report, exceeding the consensus estimate of $0.15, marking a strong record of positive earnings surprises over the last four quarters [2]. - For the current fiscal year, Eldorado Gold is expected to post earnings of $1.09 per share on revenues of $1.26 billion, reflecting a 91.23% increase in EPS and a 24.98% increase in revenues [8]. Valuation Metrics - The stock currently trades at 15.2X current fiscal year EPS estimates, below the peer industry average of 16.6X, and at 9.1X trailing cash flow compared to the peer group's average of 10X [4]. - Eldorado Gold has a PEG ratio of 0.3, indicating it is not in the top echelon from a value perspective [4]. Zacks Rank and Style Scores - Eldorado Gold holds a Zacks Rank of 1 (Strong Buy) due to rising earnings estimates, which suggests potential for further stock price appreciation [5][11]. - The stock has a Value Score of B, a Growth Score of B, and a Momentum Score of D, resulting in a combined VGM Score of A [10]. Industry Context - The Mining - Gold industry is performing well, ranking in the top 19% of all industries, providing favorable conditions for companies like Eldorado Gold and its peers [7]. - Kinross Gold Corporation (KGC), a competitor, has also shown strong performance, with a Zacks Rank of 2 (Buy) and a 24.4% increase in shares over the past month [12].

Learn more about the Growth score and how it is calculated here. Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, July 12: Sasol Limited (SSL) : This integrated chemical and energy company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.5% over the last 60 days. PDD Holdings has a PEG ratio of 0.22 compared with 2.11 for the industry. The company possesses a Growth Score of B. Eldorado G ...

VANCOUVER, British Columbia, July 11, 2024 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation ("Eldorado" or the "Company") today provides the following updates on the tax impacts in Turkiye in Q2 2024. Tax Impacts in Turkiye for Q2 2024 The Company's profits from mining operations in Turkiye are taxed at the enacted rate and the resulting current income tax expense can be further increased or reduced by other items. For the second quarter, the Company expects the Turkish current income tax expense on mining pro ...

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, July 10: Eldorado Gold Corporation (EGO) : This mining and exploration company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.1% over the last 60 days. Eldorado Gold has a PEG ratio of 0.29 compared with 0.33 for the industry. The company possesses a Growth Score of B. Sasol Limited (SSL) : This integrated chemical and energy company car ...

The Credit Facility has a four-year term and consists of a US$350 million revolving senior secured credit facility (previously US$250 million) with a US$100 million accordion feature. The Company proactively extended and increased the credit facility in order to replace the October 2021 senior secured credit facility which was maturing in 2025. The Credit Facility bears interest at a rate of SOFR plus a margin of 2.125- 3.250%, dependent on the Company's net-leverage ratio. "The extension and increase of ou ...