Overview

• British Virgin Islands gold and copper miner's Q1 revenue rose 136% yr/yr, slightly missing analyst expectations

• Q1 adjusted net income more than tripled yr/yr, supported by operational improvements

• Company declared a record dividend of about $65 mln for the quarter

Outlook

• Aura expects 2026 production of 340k to 390k GEO

• Company expects 2026 AISC within US$1,720–US$1,865/oz, with reductions mainly in H2

• Aura expects a stronger second half of 2026, driven by favorable mine sequencing

Result Drivers

• HIGHER METAL PRICES - Revenue and profitability were driven by significant increases in gold and copper prices compared to the prior year

• INCREASED PRODUCTION VOLUMES - Startup of Borborema and addition of MSG, along with higher output at Almas and Minosa, contributed to higher sales and revenue

• COST PRESSURES - Cash costs and all-in sustaining costs rose due to MSG integration, mine sequencing, and stronger Brazilian and Mexican currencies

Company press release: ID:nGNX1kYsx2

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Slight Miss*	$382.60 mln	$383.44 mln (3 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Aura Minerals Inc is $106.00, about 18.2% above its May 6 closing price of $89.70

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

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