Eldorado Gold stock gains analyst support after Skouries milestone

Published on 09/17/2026 at 20:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eldorado Gold stock is in focus after Stifel lifted its target to USD 70 on September 17, 2026, following first concentrate production at the Skouries project. RBC Capital also raised its Eldorado Gold price target to USD 41 on September 16, 2026 while maintaining Sector Perform.

ELD, CA28336J1057, Illustration mit AI erstellt.

Eldorado Gold Corporation stock (ISIN CA28336J1057) is drawing fresh analyst attention after first copper-gold concentrate was produced at its Skouries project in Greece on September 8, 2026, prompting multiple target hikes and a reassessment of the miner’s growth profile.

Skouries milestone reshapes the story

According to Simply Wall St on September 17, 2026, Eldorado Gold reported first copper-gold concentrate from the Skouries project in northern Greece on September 8, 2026, moving the asset from pure construction into initial operations.

The same analysis notes that Eldorado Gold has built up an ore stockpile at Skouries exceeding 4,600,000 tonnes, described as more than seven months of processing throughput, giving the company unusual early operating flexibility in terms of grade management, scheduling, and commissioning as the project advances toward commercial production.

Stifel and RBC lift price targets

As The Globe and Mail reported on September 17, 2026, Stifel analyst Ralph Profiti increased his Eldorado Gold Corp. target to USD 70 from USD 65, reiterating a buy rating after visiting the Skouries copper-gold mine and reviewing the commissioning progress.

In that report, Stifel highlights that first copper-gold concentrate produced on September 8, 2026 reinforces its view of a near-fully derisked flowsheet through to concentrate thickening, with stockpile coverage upgraded to 4.6 million tonnes at 1.09 grams per tonne gold versus a reserve grade of 0.77 grams per tonne, implying a roughly 41.6 percent higher grade than the reserve base.

Separately, according to Moomoo (Dow Jones) on September 17, 2026, RBC Capital raised its Eldorado Gold price target to USD 41 per share from USD 37, maintaining a Sector Perform rating after the company reported a quarterly loss of USD 0.66 per share.

A companion note cited by Moomoo (Dow Jones) on September 16, 2026, reiterates that RBC Capital keeps Eldorado Gold at Sector Perform, underscoring a more cautious stance than Stifel’s buy rating despite the Skouries progress.

Earnings and guidance context

The RBC commentary referenced by Moomoo notes that Eldorado Gold most recently reported a quarterly loss of USD 0.66 per share, indicating that despite operational milestones at Skouries, profitability remains sensitive to gold prices, ramp-up costs and capital expenditures associated with bringing the project to full commercial production.

While the detailed revenue and earnings figures for the latest quarter are not fully outlined in the brief analyst summaries, the combination of a reported loss per share and rising price targets suggests that some analysts are looking through near-term earnings pressure toward Skouries-driven cash flow in upcoming quarters.

On September 17, 2026, Zacks identified Eldorado Gold Corporation as a stock with downward earnings revisions, noting in its overview of new Strong Sell stocks that the consensus estimate for the current year’s earnings had been revised 17.6 percent lower over the last 60 days, reflecting lingering uncertainty about near-term profitability even as project execution improves at Skouries, according to Zacks.

Risk factors around gold prices and project execution

Macro conditions remain an important backdrop for Eldorado Gold stock. Recent reports on global markets point out that spot gold has fallen around 1 percent after a hawkish Federal Reserve rate decision, contributing to volatility across gold miners and reinforcing the sensitivity of Eldorado Gold’s earnings and valuation to bullion prices.

For investors, this means that while Skouries provides a clear growth catalyst, execution risks around ramp-up, potential cost overruns and the path to commercial production, combined with gold price fluctuations, continue to shape the risk-reward profile. The divergence between Stifel’s USD 70 target and RBC’s more conservative USD 41 target illustrates that analyst views remain split, with implied upside ranging from about 10 percent to substantially higher depending on the current share price and the scenario assumed for Skouries and gold prices.

Stock price and trading data

On the Toronto Stock Exchange, Eldorado Gold trades under the ticker ELD and serves as the primary listing for the company, with a secondary listing as EGO on the New York Stock Exchange providing access for US investors.