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The Screen · Basic Materials · Gold
Eldorado Gold Corp
EGO · the NYSE · USD · Market cap $8.3B · 8,400 employees
Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, and Greece.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.04, read 2026-10-31
Ethical passes the values gate
Price30.60 USD
Fair value41.31
Ethical score70.0/100
Our investment reviews on this name
2026-10-28Read Markdown31.67-3.4% to today ✓Distribution gives way to Markdown after a 25% slide in 4 weeks
2026-10-02Read Distribution42.37-27.8% to today ✓Markup gives way to Distribution after a 10% rise in 5 weeks
2026-08-27Read Markup38.44-20.4% to today Distribution gives way to Markup after a 38% rise in 4 weeks
2026-07-27Read Distribution27.95+9.5% to today Markup gives way to Distribution after a 9% slide in 4 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Eldorado Gold Corp holds its Distribution at $30.60. The statistical read favours the sellers, held for 119 days.
As held on the ledger · 2026-10-30
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 119 days
Price at the screen
$30.60
Valuation
11.03 trailing · 6.24 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.51
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
19.17%
Below 33%
Interest-bearing debt is just 19.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
14.57%
Below 49%
Money owed to the company is 14.6% of assets, under the 49% limit.
Pass
Revenue purity
1.86%
Below 5%
Only 1.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Eldorado Gold clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 19%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-10-31. It updates when the underlying figures move, and past reads are kept below.
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Today EGO passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 35.0% margin of safety to the base estimate.
Third-party analyst targets: 6 covering, consensus Buy. The average target sits +60% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Gold Miners Cheap On Paper Hide Cycle Traps
Picture a miner chasing the next big vein while the price of gold swings like a bar door in the wind. Eldorado sits in that world, pulling gold from sites across Turkey, Canada and Greece, yet its weak moat leaves it exposed every time metal prices turn.
The five times forward earnings multiple and thirty five percent margin of safety look attractive next to fifty percent revenue growth and twenty nine percent profit margins. We still pass. This is a classic cyclical value trap where peak earnings and a low multiple together warn that the good numbers may already be fading, not a bargain to be grabbed.
Analysts sit on a hold rating with a thirty seven dollar median target while return on equity runs only fourteen percent. Currency swings, permitting delays and sudden cost spikes sit in the path ahead, so the apparent discount carries real downside even though the ethical screen clears.
Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; its business and earnings are exposed to Canada and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EGO trades on the NYSE (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markdown · changed$31.67-12.6%Entry 9
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 12.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 14% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
2026-10-21Distribution$36.23-3.8%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 3.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
2026-10-14Distribution$37.66-11.1%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 11.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43. Since the last review it its composite score rose.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 10.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
2026-08-27Markup · changed$38.44+37.5%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 37.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 8.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
2026-07-18Markup$30.66+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (5 analysts) rates it hold, with a mean price target of $43.
2026-07-03Markup$30.66+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$30.66Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
