Is Eldorado Gold (EGO) One of the Best Gold Mining Companies to Invest In Now?

Eldorado Gold Corporation (NYSE:EGO) is 1 of the 13 Best Gold Mining Companies to Invest In Now. On December 10, RBC Capital accrued its terms people connected Eldorado Gold Corporation (NYSE:EGO) from $38 to $47 and maintained its Buy standing connected the stock.

Earlier, connected December 1, BofA Securities besides discussed companies that could payment the astir from rising golden prices. The steadfast expects golden prices to ascent sharply implicit the adjacent twelvemonth and forecasts that golden could scope $5,000 per ounce successful 2026. BofA Securities believes that the macroeconomic factors that lifted prices are inactive successful place.

The steadfast besides pointed retired that if golden matches the “2000s bull cycle,” it could perchance emergence arsenic precocious arsenic $7,000 per ounce. BofA’s concern strategist, Michael Hartnett, views golden arsenic a “top commercialized for 2026,” with an expected instrumentality of astir 10%.

Within this broader outlook, BofA Securities expert Lawson Winder reviewed North American mining companies and identified Eldorado Gold Corporation (NYSE:EGO) arsenic among the companies with the “highest golden terms leverage” based connected its nett plus value.

The institution received attraction aft its latest reserve update, successful which Eldorado Gold Corporation (NYSE:EGO) accrued its full proven and probable golden reserves by 5% compared to the erstwhile year, reaching 12.5 cardinal ounces. This much than offsets depletion. The maturation was chiefly driven by the Kisladag excavation and the Lamaque Complex and by a higher reserve gold-price assumption.

Despite this, BofA reiterated its Underperform standing connected Eldorado Gold Corporation (NYSE:EGO) owed to ongoing risks “around the build-out and commissioning of the Skouries project.” However, the steadfast accrued its terms people from $28 to $29.

Eldorado Gold Corporation (NYSE:EGO) is simply a mining institution that focuses connected golden and basal metals production. It has improvement and exploration operations successful Turkey, Canada, and Greece.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.