10 Cheap Hot Stocks to Buy Right Now

6. Eldorado Gold Corp. (NYSE:EGO)

Forward P/E Ratio as of April 16: 11.96

Gain Over the Past 1 Month: 29.50%

Number of Hedge Fund Holders: 19

Eldorado Gold Corp. (NYSE:EGO) mines, explores, develops, and sells mineral products primarily in Turkey, Canada, and Greece. It produces gold, silver, lead, and zinc. It holds a 100% interest in the Kisladag & Efemçukuru mines located in Turkey; the Lamaque complex located in Canada; and the Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece.

In 2024, the company’s Lamaque Complex achieved a record production of 196,538 ounces of gold. This output contributed to Eldorado’s overall 2024 gold production of 520,293 ounces, which was a 7% year-over-year increase. In Q4 2024 alone, Lamaque produced 63,742 ounces of gold. The total cash costs at Lamaque were $615 per ounce sold in this quarter, which was a slight improvement year-over-year, fueled by increased production costs but largely offset by the higher volume of ounces sold.

The production from Lamaque, particularly the additional ore from the Ormaque bulk sample, coupled with higher throughput rates and grades, directly impacts Eldorado Gold Corp.’s (NYSE:EGO)gold sales and revenue generation. The completion of the Ormaque bulk sample in December 2024 increases confidence in the development of a second mine within the Lamaque Complex.