Eldorado cuts 2026 gold outlook 18 percent on Skouries delays

Eldorado Gold cut its 2026 gold production forecast by 18 percent at the midpoint, to 425,000 to 475,000 ounces, and raised cost estimates at its Skouries copper-gold project in Greece, sending the shares down 6.1 percent in Toronto on Thursday.

Why it matters: Skouries is the project Eldorado's cash flow story turns on, and a fourth guidance cut in five years, with commercial production still promised by year end, tests how much execution slippage investors will fund.

Data as of Thursday, October 29, 2026, 12:13 ET. Production and cost guidance figures are Eldorado Gold's revised guidance in its third quarter 2026 results, filed on Form 6-K on October 28, 2026 (accession 0000918608-26-000025), as reported by The Northern Miner on October 29; the share price move and analyst reaction are The Northern Miner's. Developing item.

Eldorado Gold cut its 2026 gold production forecast by 18 percent at the midpoint, to 425,000 to 475,000 ounces from 495,000 to 600,000 ounces, after its Skouries copper-gold operation in Greece ramped up more slowly than planned. Skouries’ own expected output for the year fell to 10,000 to 35,000 ounces from 60,000 to 100,000 ounces, total project capital rose 110 million dollars to 1.43 billion dollars, and the company disclosed about 160 million dollars in additional project costs, while still expecting commercial production by December 31.

Existing operations were cut as well, to 410,000 to 430,000 ounces, on shortfalls at Kisladag in Turkey and Olympias in Greece, and all-in sustaining cost guidance for those mines rose 16 percent at the midpoint to 1,975 to 2,125 dollars an ounce. Shares fell 6.1 percent to 45.29 Canadian dollars in Toronto on Thursday morning, and Jefferies analyst Fahad Tariq wrote that another capital increase and materially lower 2026 production reinforce execution concerns heading into 2027.

Eldorado cuts 2026 gold outlook 18 percent on Skouries delays

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