Kazakhstan-focused miner Altyngold's H1 profit jumps on higher gold prices

Altyngold

29/09/2026 07:12

Overview
Kazakhstan-focused gold miner's H1 revenue rose 65% yr/yr, driven by higher gold prices and sales
Net income for H1 increased 58% yr/yr
Higher costs mainly reflect mineral extraction tax, depreciation, and currency effects

Outlook
Altyngold remains on track to meet full-year production guidance of 52-55Koz
Company expects to update on processing capacity expansion project at Sekisovskoye by end-2026
Altyngold expects to update shareholders on Teren-Sai progress during Q4 2026

Result Drivers
GOLD PRICE GAINS - Revenue growth was mainly driven by a 50% increase in the average realised gold price to $4,615/oz
HIGHER SALES VOLUMES - Gold sold increased 9% yr/yr to 24,628oz, contributing to higher revenue
THROUGHPUT AND GRADE IMPROVEMENT - Ore processed rose 10% and processed grade improved after mine development work completed in April

Company press release: ID:nBwCpZz7a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$115.20 mln
 
H1 Net Income
 
$42.70 mln
 
H1 EBIT
 
$55.21 mln
 
H1 Gross Profit
 
$59.93 mln
 
H1 Pretax Profit
 
$55.05 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the diversified mining peer group is "buy"
Wall Street's median 12-month price target for Altyngold PLC is GBp1,490.00, about 49.9% above its September 28 closing price of GBp994.00

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(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.)