Eldorado Gold Corporation Faces Legal Scrutiny Amid Project Delays

Eldorado Gold Corporation (NYSE:EGO) is a mining company that focuses on the exploration, development, and production of gold properties. It operates in several countries, including Greece, where it is currently developing the Skouries Project.

The company is facing scrutiny from the Rosen Law Firm due to potential securities claims. These claims suggest that Eldorado Gold may have misled investors with its business information. The investigation by the Rosen Law Firm follows a press release from Eldorado Gold on February 5, 2025.

The company revealed that labor market tightness in Greece, particularly in the construction sector, has delayed the Skouries Project. This has pushed the expected first production to the first quarter of 2026, with commercial production anticipated by mid-2026.

This announcement led to an 11.2% drop in Eldorado Gold's stock price, closing at $14.01 on February 6, 2025. Despite these challenges, National Bank maintained its "Outperform" rating for Eldorado Gold on April 23, 2025. At that time, the stock was priced at $19.05. National Bank also raised its price target for the company from C$32 to C$36. This suggests that, despite the current issues, there is still confidence in Eldorado Gold's long-term potential.

The Rosen Law Firm, known for its success in securities class actions, is preparing a class action to recover investor losses. The firm has a history of achieving significant settlements, including the largest securities class action settlement against a Chinese company. Shareholders who purchased Eldorado Gold securities may be eligible for compensation without any out-of-pocket costs.