Why Eldorado Gold Stock Soared Today

Shares of Eldorado Gold (NYSE: EGO) took off today, jumping as much as 9.4% as of 1:50 p.m. EDT. The market is clearly impressed with the gold stock's preliminary third-quarter numbers and expects it to upgrade its full-year guidance on Oct. 28.

Eldorado Gold announced an 8% year-over-year jump in its gold production to 125,459 ounces for the third quarter, with production from its largest mine, Kisladag in Turkey, rising 16% and exceeding the company's forecast. 

Today, National Bank also raised its price target on Eldorado Gold to 18 Canadian dollars per share from CA$17.50 a share.

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Source Fool.com