Aura Minerals Q2 2026 Earnings Recap

The stock surged 12.7% as investors responded positively to the company’s anticipated strong production ramp-up in the second half of the year and sustained EBITDA growth, despite weaker production and revenues in Q2.

Key Takeaways

• Q2 production was weaker than Q1, totaling 158,000 ounces in the first half of 2026, but management confirmed they remain on track to produce between 182,000 and 232,000 ounces in H2.
• Revenues declined due to a lower gold price and reduced output, reaching $336 million for the quarter.
• EBITDA approached $200 million, marking the 12th consecutive quarterly increase; trailing 12-month EBITDA was approximately $800 million.
• All-in sustaining cash costs were elevated at around $2,000 per ounce, driven by a turnaround at MSG, but excluding this, costs were closer to $1,600 per ounce with expected improvement in H2.
• The company generated $80 million in recurring cash flow (approximately $120 million before gold hedge losses), funding $54 million in expansion CapEx and returning $68 million to shareholders via dividends and buybacks; a new $60 million dividend and $200 million share buyback program were announced.