Executive Summary
Eldorado Gold Corporation and its subsidiaries engage in the exploration, discovery, acquisition, financing, development, production, sale, and reclamation of mineral products, primarily in Turkey, Canada, Greece, Brazil, and Romania.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -10.3% per year for the next 3 years
Snowflake Analysis
Good value with mediocre balance sheet.
Similar Companies
Share Price & News
How has Eldorado Gold's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ELD's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.2%
ELD
-4.9%
CA Metals and Mining
4.1%
CA Market
1 Year Return
96.2%
ELD
26.6%
CA Metals and Mining
-8.5%
CA Market
Return vs Industry: ELD exceeded the Canadian Metals and Mining industry which returned 26.7% over the past year.
Return vs Market: ELD exceeded the Canadian Market which returned -10.1% over the past year.
Shareholder returns
| ELD | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.2% | -4.9% | 4.1% |
| 30 Day | -16.6% | -6.1% | 7.8% |
| 90 Day | -10.9% | 16.3% | -3.3% |
| 1 Year | 96.2%96.2% | 27.5%26.6% | -5.3%-8.5% |
| 3 Year | -42.3%-42.3% | 11.3%9.4% | 3.7%-6.0% |
| 5 Year | -56.2%-56.5% | 53.2%49.0% | 21.5%3.6% |
Price Volatility Vs. Market
How volatile is Eldorado Gold's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall St
We Think Eldorado Gold (TSE:ELD) Is Taking Some Risk With Its Debt3 months ago | Simply Wall St
Are Investors Undervaluing Eldorado Gold Corporation (TSE:ELD) By 49%?4 months ago | Simply Wall St
Does Eldorado Gold Corporation's (TSE:ELD) CEO Salary Compare Well With Others?Valuation
Is Eldorado Gold undervalued compared to its fair value and its price relative to the market?
17.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ELD (CA$11.22) is trading below our estimate of fair value (CA$13.53)
Significantly Below Fair Value: ELD is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: ELD is good value based on its PE Ratio (13.1x) compared to the Metals and Mining industry average (17.7x).
PE vs Market: ELD is good value based on its PE Ratio (13.1x) compared to the Canadian market (13.2x).
Price to Earnings Growth Ratio
PEG Ratio: ELD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: ELD is good value based on its PB Ratio (0.4x) compared to the CA Metals and Mining industry average (1.8x).
Next Steps
Future Growth
How is Eldorado Gold forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-10.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ELD's earnings are forecast to decline over the next 3 years (-10.3% per year).
Earnings vs Market: ELD's earnings are forecast to decline over the next 3 years (-10.3% per year).
High Growth Earnings: ELD's earnings are forecast to decline over the next 3 years.
Revenue vs Market: ELD's revenue (10% per year) is forecast to grow faster than the Canadian market (5.5% per year).
High Growth Revenue: ELD's revenue (10% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ELD's Return on Equity is forecast to be low in 3 years time (3.2%).
Next Steps
Past Performance
How has Eldorado Gold performed over the past 5 years?
37.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ELD has a large one-off gain of $86.0M impacting its March 31 2020 financial results.
Growing Profit Margin: ELD became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: ELD has become profitable over the past 5 years, growing earnings by 37.6% per year.
Accelerating Growth: ELD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: ELD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (14.8%).
Return on Equity
High ROE: ELD's Return on Equity (2.7%) is considered low.
Next Steps
Financial Health
How is Eldorado Gold's financial position?
Financial Position Analysis
Short Term Liabilities: ELD's short term assets ($621.3M) exceed its short term liabilities ($364.2M).
Long Term Liabilities: ELD's short term assets ($621.3M) do not cover its long term liabilities ($958.3M).
Debt to Equity History and Analysis
Debt Level: ELD's debt to equity ratio (18.2%) is considered satisfactory.
Reducing Debt: ELD's debt to equity ratio has increased from 10.9% to 18.2% over the past 5 years.
Debt Coverage: ELD's debt is well covered by operating cash flow (34.6%).
Interest Coverage: ELD's interest payments on its debt are not well covered by EBIT (2.3x coverage).
Balance Sheet
Next Steps
Dividend
What is Eldorado Gold's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate ELD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate ELD's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if ELD's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if ELD's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: ELD is not paying a notable dividend for the Canadian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of ELD's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
George Burns (59yo)
3.17yrs
Tenure
US$4,539,991
Compensation
Mr. George Raymond Burns serves as an Independent Director of Turquoise Hill Resources Ltd. since January 21, 2020. He has been the Chief Executive Officer and President of Eldorado Gold Corporation since ...
CEO Compensation Analysis
Compensation vs Market: George's total compensation ($USD3.39M) is above average for companies of similar size in the Canadian market ($USD2.08M).
Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.17yrs | US$4.54m | 0.15% $2.9m | |
| Executive VP & CFO | 1.75yrs | US$1.83m | 0.10% $1.9m | |
| Executive VP & General Counsel | 2.33yrs | US$1.44m | 0.023% $428.3k | |
| Special Advisor to the COO | 0.50yr | US$1.36m | 0.045% $849.4k | |
| Executive VP & Chief Strategy Officer | 1.17yrs | US$1.84m | 0.021% $396.2k | |
| Executive VP & COO | 0.50yr | no data | no data | |
| Manager of Investor Relations | no data | no data | no data | |
| Director of Communications & Government Relations | no data | no data | no data | |
| Vice President of Human Resources | no data | no data | 0.0014% $26.4k | |
| Vice President of Exploration | 11.08yrs | no data | 0.026% $484.7k |
1.8yrs
Average Tenure
Experienced Management: ELD's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.17yrs | US$4.54m | 0.15% $2.9m | |
| Independent Director | 5.42yrs | US$235.00k | 0.0014% $27.0k | |
| Independent Director | 9.08yrs | US$210.00k | no data | |
| Independent Director | 7.08yrs | US$220.00k | 0.0060% $112.2k | |
| Independent Director | 2yrs | US$200.00k | 0.0048% $89.7k | |
| Independent Non-Executive Chairman | 2.42yrs | US$285.00k | 0.021% $392.7k | |
| Independent Director | 5.75yrs | US$210.00k | no data | |
| Independent Director | 0.17yr | no data | no data |
4.3yrs
Average Tenure
62yo
Average Age
Experienced Board: ELD's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ELD insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.4%.
Top Shareholders
Company Information
Eldorado Gold Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Eldorado Gold Corporation
- Ticker: ELD
- Exchange: TSX
- Founded: 1992
- Industry: Gold
- Sector: Materials
- Market Cap: CA$1.873b
- Shares outstanding: 166.98m
- Website: https://www.eldoradogold.com
Number of Employees
Location
- Eldorado Gold Corporation
- Bentall 5
- Suite 1188
- Vancouver
- British Columbia
- V6C 2B5
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ELD | TSX (The Toronto Stock Exchange) | Yes | Voting Common Shares | CA | CAD | Dec 1992 |
| EGO | NYSE (New York Stock Exchange) | Yes | Voting Common Shares | US | USD | Dec 1992 |
| ELO1 | DB (Deutsche Boerse AG) | Yes | Voting Common Shares | DE | EUR | Dec 1992 |
| ELD | SWX (SIX Swiss Exchange) | Yes | Voting Common Shares | CH | CHF | Dec 1992 |
| 0QZ9 | LSE (London Stock Exchange) | Yes | Voting Common Shares | GB | CAD | Dec 1992 |
Biography
Eldorado Gold Corporation and its subsidiaries engage in the exploration, discovery, acquisition, financing, development, production, sale, and reclamation of mineral products, primarily in Turkey, Canada, Greece, Brazil, and Romania. The company primarily produces gold, as well as silver, lead, zinc, and iron ore. It operates five mines: Kisladag and Efemcukuru located in western Turkey, Lamaque in Canada, and Olympias and Stratoni located in northern Greece. The company was formerly known as Eldorado Corporation Ltd. and changed its name to Eldorado Gold Corporation in April 1996. Eldorado Gold Corporation was founded in 1992 and is headquartered in Vancouver, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/06 02:21 |
| End of Day Share Price | 2020/06/05 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.