Canada's Artemis Gold Q1 revenue rises on higher output

Artemis Gold

07/05/2026 24:22

Overview

Canada gold miner's Q1 revenue rose yr/yr

Adjusted EPS for Q1 was C$0.54; no analyst estimates provided for comparison

Company to start quarterly dividend of C$0.05/share in H2 2026; closed C$450 mln notes offering

Outlook

Company maintains 2026 gold production guidance of 265,000-290,000 ounces

Artemis expects 2026 AISC to trend toward higher end of US$925-US$1,025/oz guidance

Company plans to deliver 43,812 gold ounces into mandatory hedges at C$2,832/oz in 2026

Result Drivers

HIGHER GOLD RECOVERIES - Co said record mill recoveries and strong grades from the open pit supported Q1 results, helping offset the impact of a 7-day unplanned shutdown

INCREASED COSTS - AISC rose due to lower gold production from the shutdown and higher sustaining capital and lease expenditures

STRONG GOLD PRICES - Margins remained strong, supported by high realized gold prices and the company’s low-cost operating profile

Company press release: ID:nCNWjT7MVa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
C$315.38 mln
C$337.47 mln (1 Analyst)
Q1 Adjusted EPS
C$0.54
Q1 EPS
C$0.48
Q1 Adjusted Net Income
C$129.73 mln
Q1 Adjusted EBITDA
C$175.59 mln
Q1 Gross Profit
C$220.14 mln
Q1 Pretax Profit
C$183.12 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "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 Artemis Gold Inc is C$55.00, about 56.2% above its May 6 closing price of C$35.22

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 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.)