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Metals producer Boliden Q3 revenue beats on record milled volume at Kevitsa

By Reuters News


Overview

  • Sweden metals producer's Q3 revenue rose and beat analyst expectations

  • Adjusted EBIT and EPS increased yr/yr

  • Company agreed to acquire majority stake in Nexa Resources, plans follow-up tender offer


Outlook

  • Boliden lowers grade guidance but raises milled volume guidance for Aitik in 2026

  • Company says Odda roaster availability has improved and Rönnskär tankhouse is close to ramp-up

  • Boliden says Garpenberg ramp-up is proceeding according to plan


Result Drivers

  • MINE PERFORMANCE - Strong production at Somincor, record milled volume at Kevitsa, and planned improvements at Garpenberg supported results

  • SMELTER OPERATIONS - Record nickel feed at Harjavalta and improved roaster availability at Odda contributed to performance

  • MARKET CONDITIONS - Stronger prices and stable production in both mines and smelters aided results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

SEK 30.44 bln

SEK 29.92 bln (9 Analysts)

Q3 EPS

SEK 13.69

Q3 Adjusted EBIT

SEK 4.89 bln

Q3 Free Cash Flow

SEK 1.12 bln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the specialty mining & metals peer group is "buy."

  • Wall Street's median 12-month price target for Boliden AB (publ) is SEK560.00, about 12.2% above its October 28 closing price of SEK499.00

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Oct 29 - Canada's Teck Resources Q3 revenue beats on higher output, copper prices

  • Oct 27 - Freeport-McMoRan Q3 revenue rises on higher copper prices

  • Oct 28 - Canada's Agnico Eagle Q3 adjusted EPS beats on higher realized gold prices


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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