CIBC Raises its Price Target on Eldorado Gold Corporation (EGO) to $54 and Reiterates an Outperformer Rating

Jeff Lewis

Thu, February 12, 2026 at 8:22 AM GMT+9 2 min read

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+6.41%

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Eldorado Gold Corporation (NYSE:EGO) is included among the 11 Best Mining Stocks to Buy According to Wall Street.

CIBC Raises its Price Target on Eldorado Gold Corporation (EGO) to $54 and Reiterates an Outperformer Rating

On February 4, 2026, CIBC raised its price target on Eldorado Gold Corporation (NYSE:EGO) to $54 from $46 and reiterated an Outperformer rating. The move was part of a broader update across the precious metals space after CIBC lifted its gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027, while also increasing copper assumptions. The firm said the same demand drivers that supported the sector in 2025 remain in place heading into 2026, even as geopolitical risk has become more pronounced.

A few days earlier, on February 2, 2026, Eldorado Gold Corporation (NYSE:EGO) announced an agreement to acquire Foran Mining in an all-share transaction aimed at building a larger gold-copper producer with improved growth visibility and a more diversified portfolio. Under the terms of the deal, Foran shareholders will receive 0.1128 Eldorado shares plus C$0.01 in cash for each Foran share, implying an equity value of roughly C$3.8 billion. The transaction is expected to enhance Eldorado’s production profile while adding longer-life copper exposure.

Eldorado Gold Corporation (NYSE:EGO) operates mining and development assets primarily in Turkey, Canada, and Greece, producing gold alongside silver, lead, and zinc. Its core portfolio includes the Kisladag and Efemçukuru mines in Turkey, the Lamaque Complex in Quebec, and multiple assets in Greece, including Olympias and Skouries.

While we acknowledge the potential of EGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT:  11 Best Mining Stocks to Buy According to Wall Street and 10 Most Profitable Undervalued Stocks to Buy Disclosure: None.

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