Canada's Eldorado Gold Q1 adjusted EPS beats estimates on pricing strength

Overview

• Canada gold miner's Q1 revenue rose 50% yr/yr, but gold output fell 13%

• Adjusted EPS for Q1 was $0.95, beating analyst expectations

• Company completed acquisition of Foran Mining on April 14

Outlook

• Eldorado Gold maintains 2026 annual gold production guidance of 490,000-590,000 ounces

• Company expects 2026 gold production to be weighted to the second half of the year

• Skouries project remains on track for first concentrate production in Q3 and commercial production in Q4 2026

Result Drivers

• HIGHER GOLD PRICES - Revenue and adjusted earnings rose mainly due to a 67% increase in average realized gold price per ounce sold

• LOWER PRODUCTION VOLUMES - Gold output and sales fell 13% yr/yr, mainly due to planned lower tonnes and ore grades at Kisladag and Efemcukuru

• HIGHER ROYALTIES AND COSTS - Production costs and cash costs per ounce rose due to higher royalty expenses from increased gold prices and higher rates, as well as cost inflation and labour costs

Company press release: ID:nGNX1X2M1x

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy."

• The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 8 three months ago

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