Eldorado drops as Skouries setbacks cut gold outlook 18%

AI desk brief

Eldorado Gold slashed its 2026 gold production outlook by 18% at the midpoint to 425,000–475,000 oz and raised Skouries costs by $160 million, as the Greek copper-gold project takes longer to ramp. The stock fell 7.9% in Toronto after the company also lifted all-in sustaining cost guidance for existing operations to $1,975–$2,125/oz and widened free cash flow burn on continued construction spending.

Skouries’ expected 2026 gold output was cut sharply to 10,000–35,000 oz from 60,000–100,000 oz, while total project capex is now pegged at $1.43 billion. Eldorado said commercial production is still targeted by Dec. 31, but analysts flagged repeated guidance cuts and execution risk into 2027.