Eldorado Gold Maintained at Hold at Stifel Canada Following Q1 Results; Price Target Kept at C$65.00

MT Newswires Live
05/01

Stifel Canada on Friday maintained its hold rating on the shares of Eldorado Gold (ELD.TO, EGO) and its C$65.00 price target following the miner's first-quarter results.

"Eldorado reported Q1/26 adjusted EPS of $0.95 vs. our $0.80 (consensus $0.67) and adjusted EBITDA of $336Mln vs our $307Mln on a 1.6% attributable gold production of 100.4Koz (-19% QoQ) vs. our 98.8Koz - in-line with H2-weighted FY26 guidance of 490-590Koz. Q1/26 FCF was -$129.1Mln (-$62.9Mln ex-Skouries) vs. our -$83.4Mln, driven by $135.6Mln of Skouries project capital and $48.5Mln of accelerated operational capital spent. Skouries first concentrate remains on track for Q3/26 with commercial production in Q4/26 and total project capital revised up by $155Mln to $1.315Bln due to labour, project support and overhead, materials and F/X impacts. FY26 consolidated gold production (H2-weighted) and cost guidance was maintained at 490-590Koz (ex-Skouries) at TCC of $1,220-$1,420/oz and AISC of $1,670-$1,870/oz. George Burns will retire as CEO in Q3/26; President Christian Milau will succeed him and join the Board," analyst Ralph Profiti wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 40.01, Change: -1.96, Percent Change: -4.67

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