Eldorado Gold (EGO) Stock Rises 6% as Greek Project Nears Production Start
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Stock Price Surge: Eldorado Gold (EGO) shares rose approximately 6% during Tuesday's trading, continuing to gain momentum with a total increase of 12.1% by Thursday's close, reflecting strong market confidence in the company's future performance.
- Greek Project Progress: The Skouries project in Greece is expected to commence copper-gold concentrate production by the end of Q1 2026, with commercial production projected for mid-year, which will significantly enhance the company's production growth and cash flow.
- Dividend Program Launch: Eldorado Gold announced a quarterly dividend of $0.075 per share payable on March 13, 2026, underscoring management's confidence in the Skouries project as it transitions to production and begins generating substantial cash flow.
- Investor Caution: Despite the positive developments regarding the Greek project and the dividend announcement, investors are advised to remain cautious due to inherent project risks and the nominal dividend, as there are other investment options available in the market.
Analyst Views on EGO
Wall Street analysts forecast EGO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for EGO is 37.08 USD with a low forecast of 29.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 45.170
Low
29.00
Averages
37.08
High
47.00
Current: 45.170
Low
29.00
Averages
37.08
High
47.00
About EGO
Eldorado Gold Corporation is a Canada-based gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company operates four mines: Kisladag, Efemcukuru, Lamaque, and Olympias. The Kisladag, Efemcukuru and Lamaque mines are gold mines, while Olympias is a polymetallic operation producing three concentrates bearing gold, lead-silver and zinc. Kisladag is a low-grade, bulk-tonnage, open-pit operation that uses heap leaching for gold recovery. It is located in Usak Province in western Turkiye. Efemcukuru is a high-grade, underground operation located in Izmir Province in western Turkiye. The Lamaque Complex is located in Val-d'Or, Quebec. It includes the Triangle mine, the Ormaque mine, the Parallel deposit, the Plug #4 deposit, and the Sigma Mill. Olympias is a gold-silver-lead-zinc mine located in the Halkidiki Peninsula in northern Greece. It also operates the Bruell Gold Project 51 claim property in Vauquelin township, Quebec.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
