Eldorado Gold’s 2027 Outlook: Two New Mines Turning On at Once, With 40% Production Growth Guided
This under-the-radar mining stock boasts a Superscore of 80 from our Hidden Gems Primary database, part of The Motley Fool's Moneyball Database system. Here's why.
Eldorado Gold (EGO) is a mining company that has recently seen significant growth and positive developments. As of October 23, 2026, the stock is trading at $31.67, with a 1-year return of 26%. This growth reflects the market's recognition of the output from major infrastructure projects at the company.
Eldorado Gold operates mines across Turkey, Canada, Greece, and Romania, producing gold, silver, lead, and zinc. The company has spent years addressing heavy capital requirements and complex jurisdictional hurdles. However, the tide is changing, with output now being priced in by the market.
Two key projects, Skouries in Greece and Foran Mining in Canada, are driving the growth. Skouries, a $2 billion copper-gold project, began producing concentrates on September 8 and is on track for commercial production this quarter. Foran Mining, acquired in April for C$3.8 billion, includes the McIlvenna Bay copper-zinc mine in Saskatchewan, which started producing copper concentrate in June and is also expected to enter commercial production soon.
Together, these projects are transforming Eldorado into a diversified gold and copper producer. The company's management is guiding for a 40% increase in gold production in 2027 compared to 2025, once Skouries reaches a steady state. Despite potential budget overruns and timeline slips in the past, the valuation assumes successful delivery from these mines. The current favorable setup favors patient shareholders, positioning Eldorado for outperformance over the next five years.
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