Eldorado Gold initiated with a Buy at Jefferies

Jefferies initiated coverage of Eldorado Gold (EGO) with a Buy rating and $50 price target as part of a broader research note on Metals & Mining. Gold and silver have rebounded in recent weeks, though the firm continues to believe the market is underestimating the implications of growing fiscal deficits, elevated debt levels, and currency debasement, the analyst tells investors in a research note. Skouries commissioning also serves as a significant de-risking event for the company, while Eldorado’s sector-leading production growth should support its expected meaningful free cash flow inflection point, the firm added.

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Eldorado Gold initiated with a Buy at Jefferies

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