Turk Altin slides after Q2 earnings miss

Ruzy Madencilik ve Enerji Yatirimlari Sanayi ve Ticaret

11/08/2026 08:44

** Gold miner Turk Altin shares slide more than 7% after its Q2 results missed expectations
** While the company's Q2 revenue grew to 4.6 bln lira ($96.36 million), Q2 net profit fell to 1.1 bln lira from 1.5 bln lira a year ago
** Brokerage Global Menkul Degerler says net profit fell 34% short of market expectations
** Rising gold prices kept being the driver but the company lost its momentum from Q1, brokerage Gedik Yatirim says 
** Gedik Yatirim notes the company's gold production fell from 39.9 bln ounces in Q1 to 29.3 bln ounces in Q2
** Sales and EBITDA missed market expectations, Gedik Yatirim adds
** Shares in group companies TR Anadolu Metal TRMET.IS and TR Dogal Enerji TRENJ.IS fell around 7% and 6%, respectively
** Turk Altin and its units are among the worst five performing stocks on Istanbul's BIST-100 index .XU100

($1 = 47.7357 liras)

 (Reporting by Miraç Eren Dereli)
 ((miraceren.dereli@thomsonreuters.com))