Eldorado Gold Corporation

DB:ELO1 Stock Report

Market Cap: €3.3b

Eldorado Gold Valuation

Is ELO1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ELO1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ELO1 (€15.87) is trading below our estimate of fair value (€247.1)

Significantly Below Fair Value: ELO1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ELO1?

Key metric: As ELO1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ELO1. This is calculated by dividing ELO1's market cap by their current earnings.
What is ELO1's PE Ratio?
PE Ratio11.8x
EarningsUS$287.37m
Market CapUS$3.39b

Price to Earnings Ratio vs Peers

How does ELO1's PE Ratio compare to its peers?

The above table shows the PE ratio for ELO1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.9x
NDA Aurubis
9x-6.2%€3.4b
WCH Wacker Chemie
28.3x37.0%€3.5b
FPE3 Fuchs
19.3x8.9%€5.1b
SDF K+S
78.9x61.1%€2.0b
ELO1 Eldorado Gold
11.8x30.4%€4.7b

Price-To-Earnings vs Peers: ELO1 is good value based on its Price-To-Earnings Ratio (11.8x) compared to the peer average (33.9x).

Price to Earnings Ratio vs Industry

How does ELO1's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ELO1 11.8xIndustry Avg. 12.1xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ELO1 is good value based on its Price-To-Earnings Ratio (11.8x) compared to the European Metals and Mining industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is ELO1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ELO1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.8x
Fair PE Ratio23x

Price-To-Earnings vs Fair Ratio: ELO1 is good value based on its Price-To-Earnings Ratio (11.8x) compared to the estimated Fair Price-To-Earnings Ratio (23x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ELO1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.87
€19.57
+23.3%
15.6%€23.72€13.55n/a7
Nov ’25€15.00
€19.18
+27.9%
15.6%€23.19€13.25n/a7
Oct ’25€15.78
€17.68
+12.0%
12.9%€20.94€13.25n/a7
Sep ’25€15.40
€16.96
+10.1%
16.0%€20.76€11.36n/a7
Aug ’25€15.37
€17.35
+12.9%
15.6%€21.07€11.71n/a7
Jul ’25€13.93
€16.22
+16.4%
16.3%€20.46€11.94n/a7
Jun ’25€14.98
€15.68
+4.7%
16.8%€20.19€11.38n/a7
May ’25€13.79
€15.88
+15.2%
16.9%€20.45€11.44n/a7
Apr ’25€13.01
€13.17
+1.2%
17.0%€17.14€9.19n/a7
Mar ’25€9.76
€12.84
+31.6%
17.0%€17.07€9.15n/a7
Feb ’25€11.68
€13.27
+13.6%
18.1%€17.87€9.43n/a7
Jan ’25€11.82
€12.05
+1.9%
13.7%€14.10€9.36n/a7
Dec ’24€12.20
€11.57
-5.2%
12.5%€13.33€9.10n/a7
Nov ’24€10.24
€11.58
+13.1%
16.2%€13.62€7.95€15.007
Oct ’24€8.44
€12.12
+43.6%
17.6%€16.18€8.53€15.787
Sep ’24€8.83
€11.96
+35.4%
16.9%€15.81€8.57€15.407
Aug ’24€8.88
€11.85
+33.5%
16.6%€15.57€8.44€15.377
Jul ’24€9.07
€11.83
+30.6%
15.5%€15.55€8.81€13.937
Jun ’24€9.28
€12.00
+29.3%
19.7%€15.49€8.90€14.984
May ’24€10.36
€11.67
+12.7%
15.3%€15.13€8.60€13.797
Apr ’24€9.59
€10.17
+6.1%
15.6%€12.22€7.56€13.017
Mar ’24€8.77
€10.40
+18.5%
10.5%€12.16€9.03€9.766
Feb ’24€9.00
€10.24
+13.8%
10.4%€11.92€8.88€11.686
Jan ’24€7.85
€10.12
+29.0%
11.1%€11.40€8.29€11.826
Dec ’23€7.37
€9.75
+32.3%
15.4%€11.82€7.52€12.206
Nov ’23€5.95
€10.27
+72.6%
16.0%€12.63€7.79€10.246

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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