Aura Minerals (AUGO) reported net income of US$ 135 million in the third quarter of 2026, compared with US$ 5.6 million in 3Q25 and US$ 217.7 million in 2Q26. Basic earnings per share (EPS) were US$ 1.61. The decline from the second quarter was mainly because the unrealized gain on gold derivatives was US$ 12.7 million, versus US$ 126 million in 2Q26.
Adjusted net income (non-GAAP, excluding non-cash gains on gold derivatives, foreign exchange and deferred taxes) was US$ 121.2 million, up 77% from 3Q25 and 24% from 2Q26.
Net revenue totaled US$ 386 million (US$ 385,977 thousand), up 56% from 3Q25 and 15% from 2Q26, driven by higher sales. Gross profit was US$ 222.6 million, with a gross margin of 58%. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, adjusted) was US$ 236.9 million, up 56% from 3Q25, with a margin of 61%.
Production was 95,557 gold equivalent ounces (GEO), up 29% from 3Q25, and the company describes it as a record. In the first nine months of 2026, production was 253,131 GEO, and the full-year guidance is 340,000 to 390,000 GEO. Recurring free cash flow was US$ 123.5 million in the quarter. Net debt was US$ 178.8 million, equivalent to 0.20 times adjusted EBITDA for the last 12 months. In the quarter, the company paid US$ 71 million in dividends and share buybacks.
On September 18, 2026, Aura took out a US$ 200 million syndicated loan, with interest of SOFR + 2.70% per year and a five-year term. On October 2, it announced an agreement to acquire the company that operates the mining fleet at the Apoena, Almas and Borborema mines, for an enterprise value of R$ 612 million, of which up to R$ 250 million in cash. The company estimates it will reduce all-in sustaining cost (AISC) by US$ 150 to US$ 200 per ounce starting in 2027. Closing depends on approval from Cade.
