Kazakhstan-focused miner Altyngold's H1 profit jumps on higher gold prices

By Reuters News


Overview

  • Kazakhstan-focused gold miner's H1 revenue rose 65% yr/yr, driven by higher gold prices and sales

  • Net income for H1 increased 58% yr/yr

  • Higher costs mainly reflect mineral extraction tax, depreciation, and currency effects


Outlook

  • Altyngold remains on track to meet full-year production guidance of 52-55Koz

  • Company expects to update on processing capacity expansion project at Sekisovskoye by end-2026

  • Altyngold expects to update shareholders on Teren-Sai progress during Q4 2026


Result Drivers

  • GOLD PRICE GAINS - Revenue growth was mainly driven by a 50% increase in the average realised gold price to $4,615/oz

  • HIGHER SALES VOLUMES - Gold sold increased 9% yr/yr to 24,628oz, contributing to higher revenue

  • THROUGHPUT AND GRADE IMPROVEMENT - Ore processed rose 10% and processed grade improved after mine development work completed in April


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

$115.20 mln

H1 Net Income

$42.70 mln

H1 EBIT

$55.21 mln

H1 Gross Profit

$59.93 mln

H1 Pretax Profit

$55.05 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the diversified mining peer group is "buy"

  • Wall Street's median 12-month price target for Altyngold PLC is GBp1,490.00, about 49.9% above its September 28 closing price of GBp994.00


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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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