Volatile Rollercoaster ride-few downs & big ups but Be readySome say EGO Q3 (preliminary) results will be announced on Thursday 08 October 2020,
Greece update on 23rd October.The only pending matter regarding Skouries is final vote out of Greek Hellenic Parliament, which holds a New Democracy majority and has already said 'Yes' to Eldorado based on 4 conditional requirements which Eldorado has demonstrated it is (or will be ) met.
Wall Street analysts forecast that Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) will post earnings of $0.33 per share for the current quarter, according to Zacks.
The highest EPS estimate is $0.38 and the lowest is $0.27.
Eldorado Gold posted earnings per share of (only) $0.05 in the same quarter last year, which would indicate a positive year over year growth rate of 560%. The business is expected to report its next quarterly earnings (Full) report on Thursday, October 22nd.
In terms of the company's operating assets, Eldorado booked a strong second quarter in 2020. Achieving gold production of 137,782 ounces, Eldorado reported a year-over-year increase of 50%. All-in sustaining costs (AISC) per gold ounce sold also improved compared to this time last year, falling from $917 in Q2 2019 to $859 in Q2 2020. This strong performance led management to reaffirm its 2020 outlook: gold production of 520,000 ounces to 550,000 ounces and AISC of $850-$950 per ounce sold.
Investors panning the market for undervalued opportunities would be well-served to consider Eldorado Gold. Trading at 7.8 times operating cash flow, Eldorado's shares are on the discount rack right now.
The current global failing economics, largely due to the initial and now second pandemic wave of new infections is causing great uncertainty in world trading markets. Normally, gold bullion pricing does not mimic the stock market yet both are often acting in unison. The American dollar also normally moves in the opposite to gold bullion pricing but even that is often not happening as young global 'Robin Hood' investors now trade full time from home, resulting in a flighty, often risk averse mentality that defies normal logical patterns of trading....Yes, we are in a new world of uncertainty and as the world debt increases, eventually traders will move first to cash then into safer haven gold (and sadly into bitcoin) until the pandemic storm dissipates.
Cheers to all patient gold miner investors as we hold out, buy on dips when able and looks forward to shinier days ahead.