Canada's OceanaGold Q2 gold output rises on higher production at Haile

OceanaGold

05/08/2026 22:23

Overview
Canada-based gold and copper miner's Q2 revenue rose, gold output up 7% from prior quarter
Net profit for Q2 was $222 mln, with strong free cash flow and no debt
Company returned $78 mln to shareholders via dividends and share buybacks in Q2

Outlook
Oceanagold maintains 2026 full-year gold production guidance at 520-590 koz
Company expects consolidated AISC to be near upper end of $1,750-$1,900/oz guidance range
Oceanagold forecasts higher gold production and lower AISC in H2 2026

Result Drivers
HIGHER GOLD PRODUCTION - Co said gold output rose 7% from prior quarter, driven by increased production at Haile
PRODUCTION WEIGHTED TO END OF QUARTER - Revenue reflected gold sales weighted towards the end of the quarter as production increased at Haile
HIGHER COSTS - Co said AISC rose due to labor cost inflation, continued investment in maintenance and reliability, unhedged energy costs and lower silver by-product credits

Company press release: ID:nPn9qWggZa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$647 mln
$767 mln (1 Analyst)
Q2 Net Income
 
$222 mln
 
Q2 Operating Cash Flow
 
$314 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "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 OceanaGold Corp is C$56.00, about 58.8% above its August 4 closing price of C$35.27
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

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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.)