Canada's Orezone Q2 revenue jumps on Casa Berardi acquisition

Orezone Gold

12/08/2026 21:10

Overview
Canada gold miner's Q2 revenue rose sharply with Casa Berardi acquisition, driven by record production
Adjusted EPS for Q2 missed analyst expectations; net income increased yr/yr
Company advanced Bomboré Stage 2A Hard Rock Expansion, commissioning remains on schedule for Q4-2026

Outlook
Orezone sees 2026 gold production at 222,000–247,000 oz and AISC of $2,200–$2,400/oz
Company expects Bomboré production and AISC to improve in H2-2026 on higher feed grades
Casa Berardi 2026 guidance: 62,000–67,000 oz gold, AISC $2,600–$2,800/oz for post-acquisition period

Result Drivers
CASA BERARDI ACQUISITION - Record quarterly gold production and revenue driven by first full quarter of Casa Berardi mine contribution
COST INCREASES - Higher AISC attributed to increased government royalties, lower head grades, and higher mining and processing costs
OPERATIONAL IMPROVEMENTS - Plant upgrades and improved practices at Casa Berardi increased throughput and gold recovery

Company press release: ID:nGNX5BTpBp

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$271.60 mln
 
Q2 Adjusted EPS
 
$0.08
$0.13 (2 Analysts)
Q2 Net Income
 
$45.20 mln
 
Q2 Operating Cash Flow
 
$109.30 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 Orezone Gold Corporation is C$3.50, about 31.6% above its August 11 closing price of C$2.66
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 2 three months ago

Reuters Recommended Reads
Aug 10 - Canada's K92 Mining Q2 profit jumps 116% on mine expansion, infrastructure upgrades
Aug 10 - Canada's Barrick Mining Q2 profit misses estimates, plans North American IPO by end-2026
Aug 11 - Canada's Integra Resources 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.)