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Perseus Mining
(Sydney:PRU)
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Rating:82Outperform
Price Target:
AU$8.00
▲(19.23% Upside)
Action:Upgraded
Date:08/27/26
The score is driven primarily by strong financial performance (high margins/returns and an ultra-conservative balance sheet) and a constructive, confidence-supporting earnings update with clear capital return commitments. Technicals remain bullish but look overbought, tempering the near-term setup, while valuation is reasonable but not a standout given the modest yield.
Positive Factors
Revenue and earnings growth
Strong revenue, EBITDA and profit growth indicates expanding earnings capacity and effective operating leverage. This supports internally funded investment and shareholder returns, although future results will still depend on production performance and gold prices.
Negative Factors
Higher operating costs and royalties
Higher waste movement, lower grades and increased royalties can structurally raise unit costs and compress margins at key operations. These pressures may persist as mines transition between ore sources and host-country fiscal terms reduce operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings growth
Strong revenue, EBITDA and profit growth indicates expanding earnings capacity and effective operating leverage. This supports internally funded investment and shareholder returns, although future results will still depend on production performance and gold prices.
Read all positive factors
Perseus Mining (PRU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.98B
Dividend Yield2.07%
Average Volume (3M)4.41M
Price to Earnings (P/E)15.7
Beta (1Y)1.09
Revenue Growth12.65%
EPS Growth11.08%
CountryAU
Employees871
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)0.31
Shares Outstanding1,327,131,500
10 Day Avg. Volume5,076,085
30 Day Avg. Volume4,409,576
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)2.82
Price to Sales (P/S)4.27
P/FCF Ratio28.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.09Price Target Upside5.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.41
Revenue Forecast (FY)AU$1.89B
Perseus Mining Business Overview & Revenue Model
Company Description
Perseus Mining Limited, together with its subsidiaries, explores, evaluates, develops, and mines for gold properties in Ghana, Côte d’Ivoire, Tanzania, and Sudan. The company’s flagship assets include the 90% owned Yaouré gold mine located in cent...
How the Company Makes Money
Perseus Mining makes money primarily by producing and selling gold. Its main revenue stream is the sale of gold produced from its mining operations; revenue is generally determined by the volume of gold sold (ounces) and the prevailing market gold...
Perseus Mining Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 23, 2027
Earnings Call Sentiment Positive
The call conveyed a predominantly positive message: the company delivered strong top-line and cash generation growth, materially increased resources and reserves, progressed Nyanzaga on schedule toward first gold, and announced significantly enhanced shareholder returns and a clarified capital allocation framework. Offset risks include higher operating costs at certain mines driven by ore transitions and increased royalties, additional preproduction mining costs at Nyanzaga, and manageable supply-chain and tax/timing uncertainties. On balance, the positive operational, financial and balance-sheet momentum outweighs the moderate challenges highlighted.Positive Updates
Strong Production and Cost Performance
FY26 production of 405,000 ounces of gold at an all-in site cost of $1,750/oz; FY27 guidance unchanged at 420,000-480,000 oz and AISC $1,835-$2,070/oz (based on $4,000/oz gold).
Negative Updates
Higher Costs at Yaouré and Edikan due to Ore Transitions
Planned transitions to Yaouré open pit and Kossou/Edikan open pit sources resulted in higher waste ratios and lower grades, increasing cost of sales and raising cost to produce ounces at those operations.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Production and Cost Performance
FY26 production of 405,000 ounces of gold at an all-in site cost of $1,750/oz; FY27 guidance unchanged at 420,000-480,000 oz and AISC $1,835-$2,070/oz (based on $4,000/oz gold).
Read all positive updates
Company Guidance
Perseus guided FY‑27 production of 420,000–480,000 ounces at an all‑in site cost of USD 1,835–2,070/oz (guidance excludes Nyanzaga and is based on a USD 4,000/oz gold price, which implies royalty rates of ~8% in Côte d’Ivoire and ~11% in Ghana at that price; Ghana’s scaled royalty runs ~5–12% as price rises), and set a growth capital program of ~USD 530 million (final stages of Nyanzaga, CMA underground ramp‑up, Edikan cutbacks) plus USD 70–80 million for exploration and sustaining capital guidance included in the appendix; Nyanzaga remains on track for first gold in January 2027 with >3,800 people on site, 1.2 million BCM moved to 30 June and >7 million BCM expected pre‑production (with an extra USD 20–30 million of preproduction mining brought forward), Nyanzaga sustaining capital is guided at USD 2–4 million, the company targets a minimum liquidity buffer of USD 500 million (current total liquidity USD 1.4 billion including USD 400 million undrawn facility), and the Board has adopted a revised capital‑return framework including a minimum sustainable dividend of 20% of net operating cash flow, an upsized buyback to AUD 350 million and consideration of an additional AUD 100 million distribution.Perseus Mining Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.52B | 817.72M | 457.16M | 1.44B | 1.13B |
| Gross Profit | 758.64M | 485.04M | 278.65M | 821.31M | 348.81M |
| EBITDA | 851.90M | 476.28M | 274.53M | 796.51M | 504.39M |
| Net Income | 437.64M | 242.98M | 329.96M | 427.40M | 233.59M |
Balance Sheet | |||||
| Total Assets | 2.93B | 2.48B | 1.99B | 2.42B | 1.99B |
| Cash, Cash Equivalents and Short-Term Investments | 923.66M | 751.83M | 536.70M | 728.92M | 426.85M |
| Total Debt | 2.11M | 4.17M | 3.13M | 3.90M | 86.54M |
| Total Liabilities | 465.51M | 270.94M | 205.73M | 270.22M | 346.53M |
| Stockholders Equity | 2.30B | 2.00B | 1.58B | 1.92B | 1.47B |
Cash Flow | |||||
| Free Cash Flow | 227.67M | 329.54M | 347.95M | 448.17M | 383.03M |
| Operating Cash Flow | 665.58M | 536.66M | 431.36M | 648.32M | 522.91M |
| Investing Cash Flow | -242.16M | -211.13M | -328.74M | -200.16M | -165.70M |
| Financing Cash Flow | -228.36M | -142.17M | -45.58M | -125.79M | -113.39M |
Perseus Mining Technical Analysis
Positive
6.71
Price Trends
5.41
Positive
5.37
Positive
5.47
Positive
Market Momentum
0.39
Negative
70.12
Negative
74.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PRU, the sentiment is Positive. The current price of 6.71 is above the 20-day moving average (MA) of 6.13, above the 50-day MA of 5.41, and above the 200-day MA of 5.47, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 70.12 is Negative, neither overbought nor oversold. The STOCH value of 74.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PRU.
Perseus Mining Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$8.98B | 15.74 | 18.86% | 2.07% | 12.65% | 11.08% | |
79 Outperform | AU$4.40B | 7.09 | 39.02% | ― | 111.74% | 100.58% | |
79 Outperform | AU$9.68B | 15.85 | 33.52% | 0.00% | 89.36% | 165.30% | |
78 Outperform | AU$6.43B | 8.93 | 35.03% | 2.32% | 42.59% | 180.54% | |
77 Outperform | AU$7.48B | 63.26 | 3.01% | 2.06% | -14.16% | -84.78% | |
69 Neutral | AU$3.15B | 12.65 | 23.30% | 1.59% | 4.98% | 1498.82% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
AU:PRU
Perseus Mining
6.77
2.62
62.98%
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3.85
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Resolute Mining
1.48
0.74
100.68%
AU:RRL
Regis Resources Limited
8.48
3.52
71.00%
AU:RMS
Ramelius Resources Limited
3.96
0.65
19.71%
AU:GMD
Genesis Minerals Limited
8.24
2.97
56.36%
Perseus Mining Corporate Events
Perseus Mining Details 2026 Sustainability Performance Across West African Operations
Aug 25, 2026
Perseus Mining has released its 2026 Sustainable Development Report outlining performance against key sustainability topics across its West African gold mines and associated projects. The report is prepared with reference to the Global Reporting I...
Perseus Mining Reaffirms Key Assumptions Behind Ore Reserves and Production Targets
Aug 25, 2026
Perseus Mining is an Africa-focused gold producer listed on the ASX and TSX, operating the Edikan mine in Ghana and the Yaouré and Sissingué mines in Côte d’Ivoire, with the Nyanzaga gold project in Tanzania under development....
Perseus Mining Posts Record FY26 Earnings and Boosts Shareholder Returns
Aug 25, 2026
Perseus Mining reported record financial results for FY26, with revenue rising 19% to US$1.48 billion, EBITDA up 16% to US$860.5 million and net profit after tax increasing 14% to US$480.5 million. Operating cash flow climbed 24% to US$666.4 milli...
Perseus Mining Updates ASX‑Aligned Corporate Governance and Sustainability Framework
Aug 25, 2026
Perseus Mining has detailed its corporate governance framework, outlining how its board and executive leadership team share responsibilities for strategic planning, risk management and oversight of day‑to‑day operations. The board char...
Perseus Mining Launches On-Market Share Buy-Back
Aug 25, 2026
Perseus Mining Limited operates in the gold mining industry, focusing on the exploration, development, and production of gold. The company is listed on the ASX under the ticker PRU, and its primary securities are ordinary fully paid shares, reflec...
Perseus Mining Declares AUD 0.09 Interim Dividend
Aug 25, 2026
Perseus Mining Limited has declared an ordinary dividend of AUD 0.09 per fully paid share for the six-month period ended 30 June 2026, reinforcing its shareholder return strategy in line with its recent financial performance. The dividend will tra...
Perseus Mining boosts profit, dividends and net assets in 2026
Aug 25, 2026
Perseus Mining reported a strong financial performance for the year ended 30 June 2026, with revenue from ordinary activities rising 18.9% to US$1.48 billion and profit after tax from ordinary activities increasing 13.9% to US$480.49 million. Prof...
Perseus Mining Lifts Gold Reserves 40% as Nyanzaga Becomes Cornerstone Asset
Aug 25, 2026
Perseus Mining has reported a substantial upgrade to its mineral inventory, with Measured and Indicated Mineral Resources rising 37% to 10.6 million ounces of gold and Group Proved and Probable Ore Reserves climbing 40% to 7.0 million ounces versu...
Perseus Mining Completes $126m On-Market Share Buy-Back
Aug 23, 2026
Perseus Mining Limited has completed its on-market share buy-back program in ordinary fully paid shares, originally announced in November 2025 and subsequently updated in June 2026. The program forms part of the company’s broader capital man...
Perseus Mining Sets Global Investor Call for FY26 Results
Aug 10, 2026
Perseus Mining will host an investor webinar and conference call on 26 August 2026 (25 August in North America) to discuss its FY26 financial results, with a recording to be made available on the company’s website. The scheduled event unders...
Perseus Mining Hits US$1bn Cash Milestone as Growth Projects Advance
Jul 29, 2026
Perseus Mining reported a robust June 2026 quarter, producing 109,013 ounces of gold at an all-in site cost of US$1,941 per ounce and generating an average cash margin of US$2,145 per ounce. Strong cash generation lifted notional operating cashflo...
Perseus Mining Lapses Over 3 Million Performance Rights
Jul 28, 2026
Perseus Mining Limited has announced the lapse of 3,012,770 performance rights, which have ceased because the conditions attached to these rights were not met or can no longer be satisfied. The cessation of these securities slightly reduces the co...
Perseus Mining Strengthens Board with Appointment of Veteran Geologist Tommy McKeith
Jul 22, 2026
Perseus Mining has appointed experienced mining executive Tommy McKeith as an independent non-executive director, effective immediately, completing a key phase of its board renewal process. McKeith, a geologist with more than 30 years of leadershi...
Perseus Mining Sets Investor Call for June Quarter Results
Jul 1, 2026
Perseus Mining will host an investor webinar and conference call on 30 July 2026 (AEST) to discuss its June 2026 quarterly results, with corresponding times provided for Australia, Canada, and the United Kingdom. The company will make a recording ...
Perseus Mining Cancels Nearly 4 Million Shares in On‑Market Buy‑Back
Jun 30, 2026
Perseus Mining Limited is an Australia-listed gold producer operating in the mining sector, with its ordinary fully paid shares traded on the ASX under the ticker PRU. The company’s issued capital structure is actively managed through market...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 29, 2026
Perseus Mining Limited has reported an update on its on-market share buy-back program, confirming that it is repurchasing its ordinary fully paid shares under the ASX code PRU. The announcement notes that the company has been conducting this buy-b...
Perseus Mining Updates ASX on Ongoing On-Market Share Buy-Back
Jun 28, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares, identified under the code PRU. The update records that, as of 27 June 2026, the company had repurc...
Perseus Mining Expands On-Market Share Buy-Back Programme
Jun 25, 2026
Perseus Mining Limited has continued its on-market share buy-back program, targeting its ordinary fully paid shares listed under ASX code PRU. The latest update, dated 25 June 2026, forms part of an ongoing capital management initiative first noti...
Perseus Mining Cancels 8.8 Million Shares After On-Market Buy-Back
Jun 25, 2026
Perseus Mining Limited has cancelled 8,808,082 ordinary fully paid shares on 25 June 2026, following completion of an on-market share buy-back program. The reduction in issued capital is expected to marginally increase ownership concentration for ...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
Jun 24, 2026
Perseus Mining Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares traded under the ASX code PRU. The company reported that as of 24 June 2026 it had repurchased a cumulative total of 21,290,61...
Perseus Mining Reports Ongoing On-Market Share Buy-Back Activity
Jun 23, 2026
Perseus Mining Limited has updated the market on progress under its on-market share buy-back program, confirming that it repurchased a total of 607,186 ordinary fully paid shares on the previous trading day. Cumulatively, the company has bought ba...
Perseus Mining Updates Market on Ongoing Share Buy-Back Activity
Jun 22, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The company reported that it had repurchased a total of 20,175,359 shares prior to the pr...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 21, 2026
Perseus Mining Limited has reported an update to its on-market share buy-back program, confirming continued repurchases of its ordinary fully paid shares listed under code PRU. The company disclosed that a total of 19,077,751 shares had been bough...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
Jun 9, 2026
Perseus Mining Limited has provided an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 16,287,570 shares had been repurchased before the previous trading...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 8, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest daily update, dated 5 June 2026, confirms that a total of 15,939,734 share...
Perseus Mining Updates Market on Progress of On-Market Share Buy-Back
Jun 4, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares under code PRU. The latest daily report, dated 4 June 2026, confirms that a total of 15,602,705 sha...
Perseus Mining Continues On-Market Share Buy-Back Programme
Jun 3, 2026
Perseus Mining Limited has continued its on-market share buy-back program, repurchasing a total of 15,089,282 ordinary fully paid shares prior to the latest reporting date and a further 513,423 shares on the previous trading day. The updated notif...
Perseus Mining Updates Daily On-Market Share Buy-Back Totals
Jun 2, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its on-market share buy-back program for ordinary fully paid shares. The company reported that a total of 14,739,318 shares had been repurchased before the previous t...
Perseus Mining Updates Daily Progress of On-Market Share Buy-Back
Jun 1, 2026
Perseus Mining Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed under the ASX code PRU. The company reported that, as of the latest daily notification dated 1 June 2026, it has repurc...
Perseus Mining Extends On‑Market Share Buy‑Back Program
May 31, 2026
Perseus Mining has continued its on‑market share buy‑back program, purchasing a total of 13,611,190 ordinary fully paid shares before the latest reporting date. The company reported that it bought back an additional 697,563 shares on t...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
May 28, 2026
Perseus Mining Limited has provided an update on its ongoing on-market share buy-back program for its ordinary fully paid shares on the ASX. The company reported that, as of the latest notification, it has repurchased a cumulative total of 12,807,...
Perseus Mining Continues Daily On-Market Share Buy-Back Program
May 27, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares under code PRU. The latest filing, dated 27 May 2026, reports that the company has repurchased a cu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.