Canada's Monument Mining Q2 net income jumps on strong gold sales

Monument Mining

02/03/2026 14:25

Corrects currency to USD ($), not Canadian dollars (C$), in Overview and Result Drivers

Overview

Canada gold producer's Q2 FY 2026 net income rose significantly yr/yr

Company's Q2 FY 2026 gross margin increased 173% compared to last year

Company's cash reserves increased by $19.81 mln, supporting future growth

Outlook

Company continues exploration drilling at Selinsing and infrastructure planning in Western Australia prioritized for potential mine expansion

Company did not provide specific revenue or EPS guidance

Result Drivers

GOLD PRODUCTION AND SALES - Increased gold production and sales at Selinsing Gold Mine, along with favorable gold prices, drove strong cash flow and financial performance

CASH RESERVES - Cash reserves increased by $19.81 mln to $82.65 mln, providing liquidity for future growth

Company press release: ID:nGNXkm3bs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$49.23 mln
Q2 Gross Revenue
$49.23 mln
Q2 Net Income
$20.16 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Monument Mining Ltd is C$1.92, about 56.1% above its February 27 closing price of C$1.23

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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.)