Canada's Allied Gold Q1 gold output rises 14%

Allied Gold

14/05/2026 22:03

Overview

Canada gold miner's Q1 gold production rose 14% yr/yr to 96,016 ounces

Company posted Q1 adjusted net earnings of $48.6 mln, with a net loss of $58.3 mln

Previously announced C$5.5 bln Zijin Gold acquisition remains on track, pending approvals

Outlook

Company expects Sadiola production to increase sequentially in coming quarters due to higher grades and throughput

Company expects Sadiola costs to decline for the balance of the year as higher-grade fresh ore is mined

Company expects Kurmuk to produce first gold in mid-2026 and average 290,000 oz/yr for first four years with AISC below $950/oz

Result Drivers

PRODUCTION GROWTH - Q1 gold production rose 14% yr/yr, mainly due to higher output at Bonikro and Agbaou, driven by prior stripping work and mine sequencing

COSTS AND ROYALTIES - AISC rose yr/yr but was in line with plan; higher gold prices increased royalty costs by about $80/oz

OPERATIONAL IMPROVEMENTS - Ongoing optimization initiatives at Sadiola and Agbaou aimed at improving throughput, feed grades, and reducing costs

Company press release: ID:nGNXbRWJ4j

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Net Earnings
$48.60 mln
Q1 Net Income
-$58.32 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the gold peer group is "buy."

Wall Street's median 12-month price target for Allied Gold Corp is C$44.00, about 9.1% above its May 13 closing price of C$40.33

The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)