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

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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.

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

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