Bank of America upgraded Eldorado Gold's shares to 'Buy' and raised its price target by 71% to $54 following site visits to its Greek mines. The Skouries copper-gold project, a major growth driver, is nearing commercial production in Q4 2026 and is expected to boost gold production by 29% and reduce costs by 24% in 2027. The bank forecasts Eldorado's free cash flow to jump to $1.5 billion in 2027 from a $436 million outflow in 2026, driven by Skouries and the McIlvenna Bay project. Additionally, copper production is expected to rise by 40%, supported by a more mining-friendly stance in Greece.
Eldorado Gold's recent upgrade by Bank of America is contextually placed within the Basic Materials sector on Pluang. For readers following this sector, as of Sep 23, 2026 01:41 WIB, 33 of 38 US stocks rose while 5 fell. Notable movers include Barrick Gold Corp at USD 43.79 with a 2.58% increase and 86% buy order activity, Kinross Gold Corporation at USD 28.47 up 2.45% with 100% buy orders, and Albemarle Corp. at USD 115.66 rising 2.43% with full buy interest.
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