Aura Minerals Q2 revenue edges past estimates on higher gold, copper prices
AUGO•Outlook
- Aura maintains 2026 production guidance of 340k–390k GEO.
- The company expects 2026 AISC of US$1,720–US$1,865 per GEO, including MSG.
- Aura says MSG costs are expected to improve as the turnaround progresses, with Apoena grades to benefit H2 costs.
Result drivers
- Higher metal prices - The company said year-over-year revenue growth was mainly due to a 35% increase in average realized gold price and a 41% increase in average realized copper price.
- Production gains from new assets - The company attributed year-over-year production and revenue growth to the addition of Borborema and MSG mines and higher output at Almas.
- Cost increases at MSG and other sites - The company said higher cash costs and all-in sustaining costs were driven by the turnaround phase at MSG, mine sequencing at Apoena, and increased sustaining capex at Almas.
Q2 revenue and EBITDA
- British Virgin Islands gold and copper miner's Q2 revenue rose 76% yr/yr, slightly beating analyst expectations.
- Q2 adjusted EBITDA missed analyst expectations.
- The company approved a US$200 million share repurchase program in June 2026.
