Azerbaijan's Anglo Asian Mining H1 revenue more than triples

Anglo Asian Mining

21/09/2026 07:11

Overview
Azerbaijan copper and gold producer's H1 2026 revenue more than tripled yr/yr
Profit before tax for H1 2026 surged, driven by new Gilar and Demirli mines
Company lowered full-year gold production guidance due to lower recoveries at Gilar

Outlook
Company maintains 2026 copper production guidance at 20,000-25,000 tonnes
Company lowers 2026 gold production guidance to 26,000-30,000 ounces from 28,000-33,000 ounces
Company reduces 2026 copper AISC guidance to $6,000-$7,000 per tonne

Result Drivers
NEW MINES - Record copper production and financial growth driven by full-period output from Gilar and Demirli mines
OPERATIONAL UPGRADES - Commissioning of new flotation line and infrastructure improvements increased processing capacity and efficiency
LOWER GOLD RECOVERIES - Reduced full-year gold production guidance due to variability in Gilar ore

Company press release: ID:nRSU4480Va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$141.20 mln
 
H1 Pretax Profit
 
$68.50 mln
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the gold peer group is "buy."
Wall Street's median 12-month price target for Anglo Asian Mining PLC is GBp435.50, about 18.3% above its September 18 closing price of GBp368.00

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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.)