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Stifel Canada維持對Eldorado Gold的「持有」評級，目標價維持在65.00加幣。

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-- 在Eldorado Gold（ELD.TO，EGO）公佈第一季業績後，Stifel Canada週五維持對該公司股票的「持有」評級和65.00加元的目標價。 Eldorado公佈2026財年第一季調整後每股收益為0.95美元，高於我們預期的0.80美元（市場普遍預期為0.67美元）；調整後EBITDA為3.36億美元，高於我們預期的3.07億美元。黃金產量為10.04萬盎司（季減19%），佔總產量的1.6%，高於我們預期的9.88萬盎司，與2026財年下半年加權平均產量指引49萬至59萬盎司一致。 2026財年第一季自由現金流為-1.291億美元（剔除Skouries專案後為-6290萬美元），高於我們預期的-8340萬美元，主要原因是Skouries專案資本支出1.356億美元和加速營運資本支出4850萬美元。 Skouries計畫首批精礦預計將於2026財年第三季投產，商業化生產預計將於2026財年第四季實現。項目總資本支出調高1.55億美元至13.15億美元。勞動力、專案支援和管理費用、材料以及匯率波動均有所影響。 2026財年黃金產量（下半年加權）及成本指引維持在49萬至59萬盎司（不含斯庫里斯礦區），總成本為每盎司1220至1420美元，全部維持成本為每盎司1670至1870美元。分析師拉爾夫·普羅菲蒂寫道：“喬治·伯恩斯將於2026年第三季度卸任首席執行官一職；總裁克里斯蒂安·米勞將接任，並加入董事會。” （報告北美、亞洲和歐洲主要銀行及研究機構的股票、大宗商品和經濟研究。研究機構可透過以下連結與我們聯繫：https://www..com/contact-us）

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

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