Canada's Amerigo Q2 net income rises on higher copper prices

Amerigo Resources

29/07/2026 12:41

Overview
Canada copper producer's Q2 net income rose to $18.3 mln on higher copper prices
Q2 EBITDA reached $38.4 mln, supported by increased production and operational execution
Company returned $41.7 mln to shareholders year-to-date via dividends and buybacks

Outlook
Amerigo says priorities for 2026 are safe operations, cost management and balance sheet strength
Company will continue Capital Return Strategy, prioritizing return of excess cash to shareholders
Amerigo views long-term copper outlook constructively, citing demand growth and challenged supply

Result Drivers
RECORD COPPER PRICES - Q2 benefited from the strongest quarterly LME copper prices on record, boosting revenue
HIGHER COPPER OUTPUT - Strong production of 16.9 mln lbs copper, supported by 99% plant availability and strong safety record
LOWER CASH COSTS - Cash cost per pound fell mainly due to higher molybdenum by-product credits from a 43% increase in molybdenum price

Company press release: ID:nNFC9f6LY7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.11
 
Q2 Net Income
 
$18.30 mln
 
Q2 EBITDA
 
$38.40 mln
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the specialty mining & metals peer group is "buy."
Wall Street's median 12-month price target for Amerigo Resources Ltd is C$10.00, about 39.9% above its July 28 closing price of C$7.15
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads
July 29 - Glencore's copper output up 15%, sees strong $3.3 bln marketing EBIT
July 28 - Canada's First Quantum Q2 adjusted EPS misses estimates on higher costs
July 29 - UK's Weir Group H1 revenue rises 5% on demand in copper market

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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.)