10 Best Gold Stocks Under $30

6. Eldorado Gold Corporation (NYSE:EGO)

Upside potential as of November 18: 27.85%

Share Price as of November 18: $15.96

Eldorado Gold Corporation (NYSE:EGO) is a producer of base metals and gold that operates exploration, development, and mining projects in Greece, Canada, Romania, and Turkey. It has a portfolio of high-quality assets and long-lasting connections with nearby communities. Among its initiatives are the Certej, Perama Hill, Skouries, Efemcukuru, and Kisladag projects.

In the past year, it has been among the top producers of gold, and the stock price has risen by more than 46% due to increased production, which makes it one of the best gold stocks on our list.

Eldorado Gold Corporation (NYSE:EGO) reported a 36% YoY growth in Q3 2024 revenue, mainly due to higher gold prices and sales volumes. Despite a revised full-year forecast due to higher production costs, the business produced 125,195 ounces of gold, a 3% increase from the previous year with a 4% growth in sales to 123,828 ounces. This was mainly driven by increased output at Kisladag and Olympias. The company now forecasts that labor and royalties will drive up total cash costs to between $910 and $940 per ounce.

During the quarter, a significant $82.7 million growth capital investment was made in its Skouries project. The Skouries project is moving along well, and the first production is expected to start in 2025’s third quarter.

Eldorado Gold Corporation (NYSE:EGO) continues to be committed to meeting its 2024 production and cost goals to create long-term profitability through its operations. The company’s goal is to continue developing its high-potential projects, such as Skouries, to assure future growth and value creation while taking advantage of the current high gold prices to maintain significant cash flow generation.