Eldorado Gold Corporation (EGO) saw its shares tumble by 5.05% on November 1st, as the Canadian gold mining company reported weaker-than-expected production results for the third quarter of 2024.
According to the company's Q3 earnings report, Eldorado produced 125,000 ounces of gold, falling short of analysts' forecasts of 135,000 ounces. The production miss was attributed to various operational challenges across the company's mining sites.
While Eldorado's adjusted earnings per share of $0.35 surpassed expectations, the underwhelming production figures appeared to overshadow the positive earnings surprise, sparking a sell-off in the company's shares.
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