A Look at Eldorado Gold (TSX:ELD) Valuation After Record Mineral Reserve Update and Exploration Boost

Eldorado Gold (TSX:ELD) just reported its highest Mineral Reserve estimate since 2017, with reserves up 5% from last year. The company’s update highlights exploration investments and signals stronger growth prospects, particularly at the Lamaque Complex.

See our latest analysis for Eldorado Gold.

Eldorado Gold’s renewed focus on mine life extension and exploration has caught investors’ attention, with the stock climbing steadily in 2025. The company’s 1-year total shareholder return of 94% and 3-year total return topping 280% underscore strong momentum. The 23.6% 1-month share price gain suggests recent excitement is building rather than fading.

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With the stock up nearly 95% over the past year and trading close to analyst price targets, investors are left wondering whether Eldorado Gold is still undervalued or if future growth is already fully reflected in the share price.

Most Popular Narrative: 14% Undervalued

With Eldorado Gold closing at CA$43.19 compared to the most widely followed narrative fair value of CA$50.23, the crowd sees meaningful upside from current levels. Investors are watching how emerging catalysts and financial trends may push the company toward that price target.

The approaching commissioning of the Skouries copper-gold project, planned for Q1 2026 and currently on schedule, is expected to be transformative by materially increasing production volumes, diversifying the revenue mix, and expanding EBITDA margins due to the asset's high grades and lower costs relative to existing operations.

Read the complete narrative.

Want to know why this stock could punch above its weight? The narrative rests on game-changing growth projections and a profitability leap that defies industry norms. Discover the surprising assumptions and future expectations driving this bullish fair value estimate.

Result: Fair Value of $50.23 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistently rising costs and potential delays at the Skouries project could quickly challenge these optimistic growth and valuation assumptions for Eldorado Gold.

Find out about the key risks to this Eldorado Gold narrative.

Build Your Own Eldorado Gold Narrative

If the current story does not match your own perspective or you want to support your conclusions with fresh analysis, you can quickly create a personal outlook using our fast and flexible tool in just a few clicks. Do it your way

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Eldorado Gold.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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