Canada's Artemis Gold Q2 revenue rises

Artemis Gold

06/08/2026 11:55

Overview
Canada gold miner's Q2 revenue rose yr/yr but missed analyst expectations
Adjusted EPS for Q2 rose to C$0.83, with record adjusted EBITDA and cash flow
Company declared inaugural quarterly dividend of C$0.05 per share, payable Sept. 9

Outlook
Artemis Gold maintains 2026 production guidance of 265,000-290,000 ounces at AISC of US$925-US$1,025/oz
Company expects 2026 AISC to trend toward higher end of guidance due to inflation and oil prices

Result Drivers
HIGHER GRADES AND RECOVERIES - Co said record gold grades and improved recoveries at Blackwater Mine drove increased production
PROCESS OPTIMIZATION - Co attributed higher mill recoveries to process optimization and improved ore characteristics

Company press release: ID:nCNWLMKlqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
C$433.58 mln
C$440.68 mln (2 Analysts)
Q2 Adjusted Net Income
 
C$199.65 mln
 
Q2 Adjusted EBITDA
 
C$285.19 mln
 
Q2 Gross Profit
 
C$324.48 mln
 
Q2 Pretax Profit
 
C$306.009 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "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 46% above its August 5 closing price of C$37.67
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates
Aug 6 - Canada's Fortuna Mining Q2 adjusted income rise  on higher gold prices
Aug 6 - Canada's McEwen Q2 revenue rises on higher gold prices

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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.)