ATB Capital Downgrades Eldorado Gold Corporation (EGO), Cites Ramp-Up Risk

Eldorado Gold Corporation (NYSE:EGO) is one of the top cheap stocks to buy with the biggest upside potential. Eldorado Gold Corporation (NYSE:EGO) was downgraded to Sector Perform from Outperform by ATB Capital on May 4, with the firm bringing the price target on the stock down to C$55 from C$84. It cited the ramp-up risk at both Skouries and McIlvenna Bay this year, telling investors that with the closing of the Foran Mining acquisition in mid-April, the firm is now incorporating the value for McIlvenna Bay and the shares issued into its net asset value.

Is Eldorado Gold Corporation (EGO) the Most Undervalued Silver Mining Stock to Buy According to Analysts?

The rating update came after Eldorado Gold Corporation (NYSE:EGO) announced its fiscal Q1 2026 earnings on April 30. It reported gold production of 100,358 ounces, with gold sales of 100,619 ounces at an average realized gold price per ounce sold of $4,891. The company further stated that production costs came up to $188.2 million, while total cash costs were $1,470 per ounce sold, and all-in sustaining costs were $1,942 per ounce sold.

Eldorado Gold Corporation (NYSE:EGO) is involved in the mining, development, and exploration of gold, with its operations divided into the following segments: Turkey, Canada, and Greece.

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