Aura Minerals Inc. Common Shares

Aura Minerals announced record first-half 2026 production of 157,574 gold equivalent ounces, a 27% increase over the prior year, and net income of $312.8 million. Total GEO production in the second quarter reached 75,437 ounces, down 8% from the first quarter but up 18% year-over-year, while first-half net revenue more than doubled to $718.6 million. Adjusted EBITDA for the first half rose 135% to $440.5 million, and the company declared a last-twelve-month shareholder yield of approximately 4.3% through dividends and buybacks. Aura also advanced growth projects including Era Dorada in Guatemala, where earthmoving is 60% complete, and maintained its full-year production guidance of 340,000 to 390,000 GEO.

Aura Minerals announced preliminary production results for the second quarter and first half of 2026, with total production reaching 75,437 gold equivalent ounces in Q2 2026, an 8% decrease from the previous quarter but 18% higher than Q2 2025. For the first six months of 2026, production hit a record 157,574 GEO at current prices, a 27% increase over the same period last year. Sales in H1 2026 totaled 159,129 GEO, up 29% year-over-year. CEO Rodrigo Barbosa noted that Q2 production was in line with expectations and the company remains on track for its full-year guidance, while highlighting progress on strategic growth projects including the Era Dorada construction and the MSG turnaround strategy. Among the six operating mines, Aranzazu produced 17,882 GEO in Q2, up 14% quarter-over-quarter, while Almas output rose 25% year-over-year to 16,130 GEO, driven by plant expansion. Minosa, Apoena, Borborema, and MSG all saw quarterly production declines due to mine sequencing and lower grades, consistent with the company's plans.

Aura Minerals shares have gained 20% year to date, outpacing the Zacks Mining - Miscellaneous industry's 16.3% growth. The rally is fueled by record first-quarter 2026 production of 82,137 gold-equivalent ounces, up 37% year over year, driven by the ramp-up of the Borborema mine and the newly acquired Mineração Serra Grande assets. Net revenues surged 136% to $382.6 million and adjusted EBITDA nearly tripled to a record $243.9 million, supported by higher volumes and stronger gold prices. The board also approved a $200 million share repurchase program running from June 18, 2026, to June 18, 2027, signaling confidence in cash generation. Growth projects continue to advance, with the Era Dorada project entering construction and exploration ongoing at Aranzazu and Almas.

JPMorgan maintained an Overweight rating on Aura Minerals but lowered its price target to $104.50 from $112. The firm cited an updated financial model for the gold and copper producer. Separately, Aura Minerals approved share repurchase programs for up to $200 million of its common shares and Brazilian Depositary Receipts, running from June 18, 2026, until the earlier of completion or June 18, 2027, funded by existing cash.

Aura Minerals board of directors approved a $200 million share repurchase program on June 18, reinforcing its commitment to shareholder returns. The buyback follows strong operational momentum and cash generation from expanding production, alongside progress on three core value-creation avenues. These include advancing the Borborema Mine construction and improving mine conditions at the recently acquired MSG project, where Proven & Probable Mineral Reserves grew from 3.4 million to 7.2 million gold equivalent ounces. The company is a Canadian multinational focused on gold, copper, and silver across the Americas.