Eldorado Gold Soars on Skouries Progress, But Undervaluation Debate Rages On

Eldorado Gold (TSX:ELD) is nearing commissioning of its Skouries copper-gold project in Greece, which is reportedly at 97% completion. Jefferies has initiated coverage of the company, and commissioning is expected to begin in Q1 2026.

The project's first concentrate is targeted for the third quarter. Eldorado Gold's recent progress on Skouries and the new coverage from Jefferies have contributed to a 30-day share price return of 37.08% and a one-year total shareholder return of 84.23%.

Despite this strong performance, some analysts believe that Eldorado Gold is still undervalued, with an implied upside of 63%. The company's fair value has been estimated at CA$58.16 by some, although the SWS DCF model suggests a significantly higher fair value of CA$161.33.

Eldorado Gold faces challenges from elevated all-in sustaining costs and potential regulatory setbacks that could impact future margins. Investors will be watching the company's progress on Skouries closely to see if it can live up to its growth prospects.