Canada's DPM Metals Q1 revenue rises on higher metal prices and Vareš addition

DPM Metals

05/05/2026 22:11

Overview

Canada gold miner's Q1 revenue rose 115% yr/yr, driven by higher metal prices and Vareš addition

Q1 adjusted EBITDA slightly beat analyst expectations

Company returned $33.6 mln to shareholders via dividends and share repurchases in Q1

Outlook

DPM reaffirms 2026 GEO production guidance of 305,000 to 365,000 oz

Company maintains 2026 all-in sustaining cost guidance of $1,300 to $1,450 per GEO sold

Vareš mine remains on track to reach full 850,000 t/yr run-rate by year-end

Result Drivers

HIGHER METAL PRICES - Co said higher realized prices for gold, silver, and copper were a primary driver of increased revenue and earnings

VAREŠ ACQUISITION - Addition of Vareš mine contributed to higher production and sales volumes

COST INCREASES - Higher all-in sustaining costs reflected a stronger Euro, higher labor costs, and increased royalties tied to higher metal prices

Company press release: ID:nGNX6gMJCt

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$310.40 mln
$223.41 mln (1 Analyst)
Q1 Adjusted Net Income
$168.20 mln
Q1 Net Income
$165.90 mln
Q1 Adjusted EBITDA
Slight Beat*
$213.50 mln
$212.43 mln (3 Analysts)
Q1 Free Cash Flow
$203.30 mln
Q1 Pretax Profit
$189.10 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "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 DPM Metals Inc is C$63.50, about 43.5% above its May 4 closing price of C$44.24

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 13 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.)