The Globe and Mail reports in its Wednesday, Sept. 23, edition that Canaccord Genuity analyst Carey MacRury raised his share target on Eldorado Gold to $63 from $55 following site visits in Greece last week to the company's Skouries project and Olympias mine. The Globe's Darcy Keith writes that the tour for analysts was hosted by Eldorado's senior management. Mr. MacRury says in a note: "Overall, we came away with a more positive view of the status of the Skouries ramp up and the 650ktpa expansion at Olympias. 2026 is a key transition year for the company with Skouries and McIllvenna Bay set to ramp up production and drive an inflection in free cash flow in 2027 -- we model free cash flow of $806-million in 2027 up from $709-million in 2026. ... We have made minor operating adjustments to our forecasts following the site visits, and we have lowered our discount rate on Skouries to 8 per cent (from 10 per cent) with the project nearing final completion. Our net asset value has increased 5.7 per cent to $50.72/share." Skouries, part of the Kassandra Mines complex on the Halkidiki Peninsula, is one of Europe's largest copper-gold porphyry development projects and Eldorado's single most important near-term catalyst.
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