Eldorado Gold Corporation
Eldorado Gold Corporation (NYSE: EGO) is a Canadian mining company engaged in the production of gold and base metals, with operating, development, and exploration assets across Türkiye, Canada, and Greece, and four active mines comprising Kisladag, Efemcukuru, Lamaque, and Olympias.
As per US Dailies Report published on ‘EGO’ on Sep 16, 2025, Kalkine provided a ‘Buy’ stance on the stock at USD 27.51 based on fundamental as well as technical analysis and the stock price has now moved up by 35.26%.
Noted below are the details of technical summary provided in our previous report:
Rationale for Sell Recommendation:
Eldorado Gold’s third-quarter performance highlighted several operational and financial headwinds. Gold production was constrained by lower-than-expected output at Olympias due to ongoing flotation circuit challenges, which also reduced by-product sales and increased unit processing costs. These issues, together with record-high gold prices and higher royalty rates in Türkiye, pushed consolidated cost guidance upward, with total cash costs and AISC revised higher for 2025. Despite strong operating cash generation, free cash flow was negative at USD 87.4 million in Q3 2025 as heavy growth capital spending—particularly at the Skouries project—continued to absorb cash, reflecting elevated execution and funding intensity during the build-out phase. Additionally, reported earnings were weighed down by realized and unrealized derivative losses and foreign exchange impacts, underscoring earnings volatility during a period of significant project investment and cost pressure.
EGO’s Daily Chart
Eldorado Gold faces near-term downside risk as operational underperformance at Olympias, rising cost pressures, negative free cash flow driven by heavy Skouries capital spending, and earnings volatility from derivatives and foreign exchange collectively weaken cash flow visibility and margin stability despite strong gold prices. Accordingly, a ‘Sell’ rating is assigned to ‘EGO’ at the current market price of USD 37.21, as of December 22, 2025, 9:05 a.m. PST.
Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is Dec 22, 2025. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
CA
NZ
UK
US
IND
AU
Please wait processing your request...