Canada's DPM Metals Q2 revenue beats on higher metal prices

DPM Metals

30/07/2026 22:11

Overview
Canada precious metals miner's Q2 adjusted EPS beat analyst expectations
Q2 adjusted EBITDA exceeded analyst expectations
Company generated record Q2 free cash flow and returned $57.6 mln to shareholders

Outlook
DPM reconfirms 2026 production guidance of 305,000-365,000 GEO
Company maintains 2026 all-in sustaining cost guidance of $1,300-$1,450 per GEO sold
Vareš mine ramp-up to 850,000 tonnes per year remains on track for year-end 2026

Result Drivers
HIGHER METAL PRICES - Co said higher realized prices for gold, silver and copper were a key driver of increased revenue and earnings
VAREŠ MINE ADDITION - Addition of Vareš mine contributed to higher production and sales volumes
COST PERFORMANCE VARIATION - Lower costs at Vareš due to capitalization of pre-commercial production costs, while Chelopech and Ada Tepe saw higher labor and royalty costs

Company press release: ID:nGNX24lHwn

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$361.50 mln
$294.24 mln (2 Analysts)
Q2 Adjusted EPS
Beat
$0.95
$0.87 (7 Analysts)
Q2 Adjusted Net Income
 
$210.80 mln
 
Q2 Net Earnings
 
$230.10 mln
 
Q2 Adjusted EBITDA
Beat
$257.86 mln
$234.76 mln (3 Analysts)
Q2 Free Cash Flow
 
$227.30 mln
 

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$61.50, about 24.7% above its July 29 closing price of C$49.30
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
July 29 - Canada's Agnico Eagle Q2 net income rises on higher gold prices
July 29 - Canada's Kinross Gold Q2 revenue, profit benefit from higher prices
July 30 - Capstone Copper Q2 adjusted EBITDA beats estimates on higher metal 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.)