New York, Jan 26, 2026, 15:20 EST — Regular session
- Eldorado Gold shares jumped roughly 5.6% following a rating upgrade and higher target price from Scotiabank
- Gold surged past $5,100 an ounce, pushing mining stocks higher
- Investors are focused on the Fed’s Wednesday decision and Eldorado’s earnings report on Feb. 19 for direction
Eldorado Gold’s shares on the U.S. exchange rose Monday following an upgrade from Scotiabank, as gold prices hit a new peak above $5,100 an ounce.
This move is significant as gold’s rally is pushing into equities once more, with Eldorado standing out among mid-tier names where slight shifts in outlook can rapidly alter valuations.
Traders are already looking beyond today’s action. The Federal Reserve’s policy update later this week looms large, alongside a series of mining-company reports that could clarify 2026 spending and production forecasts.
Eldorado Gold jumped 5.6% to $48.79 in afternoon trading, hitting an intraday peak of $50.66. Roughly 2.4 million shares traded hands.
Scotiabank’s Tanya Jakusconek raised the stock rating to “Sector Outperform” from “Sector Perform” and bumped up her price target to $59 from $33, according to Benzinga’s analyst ratings feed. The price target reflects where she sees the stock trading over the next year, and “outperform” means she expects it to surpass its peers. Benzinga
The wider sector gained ground as gold pushed further into record territory. Societe Generale analysts projected gold could hit $6,000 an ounce by year-end, calling that figure a likely understatement. In U.S. markets, Newmont climbed 1.7%, while Agnico Eagle picked up 1.1%.
Vancouver-based Eldorado has been highlighting a near-term boost linked to Greece. In an update on Jan. 20, the company announced first concentrate output from its Skouries copper-gold project is slated for late Q1 2026, with commercial production targeting mid-year. CEO George Burns noted that “the key remaining risk is completing the electrical and instrumentation work across the site.” Eldorado Gold
But the stock’s leverage works both ways. A sudden drop in gold prices or a hawkish Fed surprise could weigh on miners across the board. Plus, any delay in Skouries commissioning would probably undermine the rerating investors are banking on. The Fed wraps up its meeting with a policy update Wednesday afternoon.
Eldorado’s President Christian Milau will speak at TD Cowen’s Global Mining Conference on Jan. 28. The company plans to report its year-end and fourth-quarter results after markets close on Feb. 19, with a conference call set for Feb. 20.
