Serabi Gold H1 revenue jumps 60% on higher gold prices and production

By Reuters News


Overview

  • Gold miner Serabi's H1 revenue grew sharply yr/yr, driven by higher gold sales and prices

  • EBITDA and EPS for H1 2026 rose significantly compared to prior year

  • Company remains debt-free after repaying Banco Santander loan in Q1-2026


Outlook

  • Serabi Gold maintains 2026 gold production guidance at 53,000+ ounces, subject to regulatory approvals

  • Company says timing for regulatory approvals at Coringa remains uncertain, with updates expected in Q4-2026

  • Serabi Gold continues brownfield exploration in 2026 with a 30,000m drill programme at Palito Complex and Coringa


Result Drivers

  • HIGHER GOLD PRICES - Co said average realised gold price per ounce increased to $4,687 in H1-2026 from $3,093 in H1-2025, boosting revenue and profitability

  • RAMP-UP AT CORINGA - Co said increased cash cost and AISC were largely driven by continued ramp-up at Coringa mine and one-time G&A charges

  • COMMERCIAL PRODUCTION AT MEIO ZONE - Co said costs associated with mining the Meio zone are now included in cash cost and AISC as the zone reached commercial production


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 EPS

$0.40

H1 EBITDA

$44.40 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the gold peer group is "buy."

  • Wall Street's median 12-month price target for Serabi Gold PLC is GBp410.00, about 53% above its September 21 closing price of GBp268.00

  • The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 3 three months ago


Reuters Recommended Reads

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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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