Scotiabank Raises PT on Eldorado Gold Corporation from $24 to $25.50, Keeps Sector Perform Rating

Eldorado Gold Corporation (NYSE:EGO) is one of the Best Gold Mining Companies to Buy Now. On August 11, Scotiabank raised the price target on Eldorado Gold Corporation (NYSE:EGO) from $24 to $25.50, keeping its Sector Perform rating on the stock.

Tanya Jakusconek from Scotiabank increased the price target of EGO following record Q2 FY2025 revenue. The company posted revenue of $452 million, up by 52% year-over-year and exceeding estimates by $38.20 million. Eldorado achieved a total production of 133,769 ounces of gold, with the Lamaque complex surpassing expectations.

Jakusconek is optimistic about Eldorado Gold Corporation, given the positive development at Skouries. The Skouries project has reached 70% for phase two of construction, and the first copper-gold concentrate production is expected in Q1 2026. Whereas, the company remains on track to achieve its 2025 guidance of producing between 460,000 and 500,000 ounces of gold.

Eldorado Gold Corporation (NYSE:EGO) is a Canada-based gold and base metals producer with mining, development, and exploration operations in Turkiye, Canada, and Greece.

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Disclosure: None. This article is originally published at Insider Monkey.