Eldorado Gold and Alamos Gold miss Q3 profit estimates on production problems

what happened

Eldorado Gold reported Q3 adjusted earnings of $0.49 per share against expectations of $0.81, and revenue of $511.9 million compared with $674.47 million in estimates. The company lowered its 2026 gold production outlook to 425,000-475,000 ounces from 495,000-600,000 and raised its cash cost and all-in sustaining cost guidance. It blamed a slower ramp-up at Skouries, along with lower output at Kisladag and Olympias.

Alamos Gold posted Q3 adjusted earnings of $0.44 per share, below the $0.58 forecast by seven analysts, on revenue of $510.4 million. A record performance at the Island Gold District did not offset lower output at Young-Davidson, and sustaining costs rose. The company kept its full-year 2026 production guidance at 510,000-560,000 ounces and expects 140,000-160,000 ounces in Q4. The figures were published by Reuters.

why it matters

The weak numbers show how delayed project ramp-ups and falling output push up costs per ounce, which matters for gold producers' margins whatever the metal price does. The reports do not move the global gold price directly, but they can weigh on company shares and the wider sector, especially where investors expected stronger results.

market impact

Canadian gold miners' shares: weak profit and a lower output outlook weigh on Eldorado Gold and Alamos Gold

• ▼Eldorado Gold shares pressure down — lower production outlook and higher costs
• ▼Alamos Gold shares pressure down — profit below expectations amid weaker Young-Davidson output

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