5 Most Oversold Canadian Stocks to Invest In

3. Eldorado Gold Corporation (NYSE:EGO)

Relative Strength Index Reading: 34.31

Stock Upside Potential: 68.39%

Number of Hedge Fund Holders: 22

Eldorado Gold Corporation (NYSE:EGO) is one of the most Oversold Canadian stocks to invest in. On April 30, Eldorado Gold Corporation (NYSE:EGO) delivered impressive first-quarter results, capitalizing on higher gold prices.

Gold production in the quarter totaled 100,358 ounces, and the company sold 100,619 ounces at an average realized price of $4,891. Production costs in the quarter totaled $188.2 million, as capital expenditures totaled $318 million. Eldorado Gold Corporation has reiterated its 2026 annual production guidance of 490,000 and 590,000 ounces of gold.

Revenue in the first quarter totaled $532.4 million, resulting in net cash generated from operating activities of $141.4 million. Adjusted net earnings attributable to shareholders totaled $188.2 million or $0.95 earnings per share. During the quarter, the company completed the acquisition of Foran Mining Corporation. With the acquisition, the company has added McIlvenna Bay, a high-quality, long-life asset in a premier mining jurisdiction. The asset provides exposure to high-quality multi-decade Canadian copper, zinc, gold, and silver assets.

Eldorado Gold Corporation is a Canadian-based mid-tier mining company that explores, develops, and operates high-quality gold and base metal (copper, silver, lead, zinc) properties. With over 30 years of experience, it operates mines primarily in Turkey, Canada, and Greece, focusing on producing gold bullion and concentrates.