Eldorado Gold: Skouries Is Awakening

Nov. 22, 2022 9:55 PM ETEldorado Gold Corporation (EGO), ELD:CA2 Comments

Summary

  • Revenues were $217.7 million, down from $238.44 million the same quarter a year earlier and up 2% QoQ.
  • Gold production came in at 118,791 Oz, down from 125,459 ounces produced in 3Q21 and up from 113,462 Oz delivered the preceding quarter.
  • I recommend buying EGO between $6.17 (50MA) and $5.4 with potential lower support at $5.
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A lump of gold on a stone floor

Oat_Phawat

Introduction

The Vancouver-based Eldorado Gold Corporation (NYSE:EGO) released its third quarter 2022 results on October 28, 2022.

Note: This article is an update of my article published on October 20, 2022. I have followed EGO's quarterly Seeking Alpha results since January 2015.

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I am a former test & measurement doctor engineer (geodetic metrology). I was interested in quantum metrology for a while.

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Note: I am not a financial advisor. All articles are my honest opinion. It is your responsibility to conduct your own due diligence before investing or trading.

Disclosure: I/we have a beneficial long position in the shares of EGO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I trade short-term EGO as well.

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