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Perseus Mining
(Sydney:PRU)
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Rating:82Outperform
Price Target:
AU$6.50
â–Ľ(-3.13% Downside)
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 that Perseus is converting production and operating performance into substantial earnings expansion. Continued top-line scale and profitability provide greater capacity to fund mine development, exploration and shareholder returns over the next several quarters.
Negative Factors
Higher operating costs and royalties
Higher waste movement, lower grades and increased royalties can structurally pressure unit costs and reduce margins at affected operations. These factors may limit the benefit of strong gold production and require sustained operational improvement to preserve profitability across the portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings growth
Strong revenue, EBITDA and profit growth indicates that Perseus is converting production and operating performance into substantial earnings expansion. Continued top-line scale and profitability provide greater capacity to fund mine development, exploration and shareholder returns over the next several quarters.
Read all positive factors
Perseus Mining (PRU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.19B
Dividend Yield2.58%
Average Volume (3M)4.68M
Price to Earnings (P/E)13.0
Beta (1Y)1.06
Revenue Growth12.65%
EPS Growth11.08%
CountryAU
Employees871
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.32
Shares Outstanding1,326,111,600
10 Day Avg. Volume4,106,514
30 Day Avg. Volume4,683,343
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)2.82
Price to Sales (P/S)4.37
P/FCF Ratio32.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.55Price Target Upside12.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.42
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 | 1.48B | 1.25B | 1.03B | 1.43B | 1.13B |
| Gross Profit | 744.35M | 587.54M | 483.53M | 602.58M | 348.81M |
| EBITDA | 844.67M | 726.94M | 616.01M | 795.02M | 504.39M |
| Net Income | 428.24M | 370.87M | 324.28M | 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 | 197.33M | 329.54M | 307.89M | 448.17M | 383.03M |
| Operating Cash Flow | 666.42M | 536.66M | 429.18M | 648.32M | 522.91M |
| Investing Cash Flow | -236.96M | -211.13M | -323.08M | -200.16M | -165.70M |
| Financing Cash Flow | -238.60M | -142.17M | -50.03M | -125.79M | -113.39M |
Perseus Mining Technical Analysis
Negative
6.71
Price Trends
6.31
Negative
5.67
Negative
5.55
Negative
Market Momentum
-0.20
Positive
31.97
Neutral
16.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PRU, the sentiment is Negative. The current price of 6.71 is above the 20-day moving average (MA) of 6.10, above the 50-day MA of 6.31, and above the 200-day MA of 5.55, indicating a bearish trend. The MACD of -0.20 indicates Positive momentum. The RSI at 31.97 is Neutral, neither overbought nor oversold. The STOCH value of 16.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PRU.
Perseus Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$7.19B | 13.00 | 18.90% | 2.58% | 12.65% | 11.08% | |
78 Outperform | AU$4.81B | 6.88 | 35.03% | 3.02% | 42.59% | 180.54% | |
77 Outperform | AU$6.62B | 57.91 | 3.01% | 1.71% | -14.16% | -84.78% | |
76 Outperform | AU$3.66B | 4.05 | 52.15% | 5.68% | 194.08% | 92.97% | |
72 Outperform | AU$7.56B | 12.93 | 33.52% | 0.78% | 89.36% | 165.30% | |
66 Neutral | AU$2.38B | 9.75 | 23.30% | 1.59% | 4.98% | 1498.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:PRU
Perseus Mining
5.42
0.84
18.39%
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Perseus Mining Corporate Events
Perseus Mining Reaffirms Ore Reserve Assumptions Across African Gold Portfolio
Oct 26, 2026
Perseus Mining, listed on the ASX and TSX under the ticker PRU, operates as a gold producer with a portfolio of mines and projects in West and East Africa. Its key assets include the Edikan Gold Mine in Ghana, the Yaouré and Sissingué go...
Perseus Mining Issues New Performance Rights Under Incentive Scheme
Oct 23, 2026
Perseus Mining Limited has notified the market of the issue of 17,374 unquoted performance rights under its employee incentive scheme, dated October 21, 2026. These securities, which are not intended to be quoted on the ASX, form part of the compa...
Perseus Mining Plans AUD 100m Payout Following Sudan Asset Sale
Oct 23, 2026
Perseus Mining has announced a proposed cash return of capital of AUD 0.0528 per ordinary share, with trading on an ex‑return of capital basis scheduled to commence on 17 December 2026. The record date is set for 18 December 2026 and payment...
Perseus Mining Sets 2026 AGM to Review Reports and Confirm Board
Oct 23, 2026
Perseus Mining has called its annual general meeting of shareholders for 30 November 2026 in Perth, setting out an agenda that includes receiving the financial and sustainability reports for the year ended 30 June 2026. The meeting will also vote ...
Perseus Mining Sets Global Investor Call for September Quarter Results
Oct 9, 2026
Perseus Mining will host an investor webinar and conference call to discuss its September 2026 quarterly results, scheduled for release around 8:30 a.m. AEDT on Tuesday, 27 October 2026. The event is timed to accommodate investors in Australia, Ca...
Perseus Mining Cancels Over 1 Million Shares in On-Market Buy-Back
Oct 2, 2026
Perseus Mining Limited has notified the ASX of the cessation of a tranche of its ordinary fully paid shares, reflecting an adjustment to its issued capital base. The mining company continues to use its PRU-listed equity as a primary vehicle for in...
Perseus Mining Issues New Unquoted Performance Rights Under Incentive Scheme
Oct 2, 2026
Perseus Mining Limited is an ASX-listed gold producer focused on exploration and development of gold assets, with its securities traded under the code PRU. The company utilises equity-based employee incentive schemes, including performance rights,...
Perseus Mining Updates ASX on Ongoing On-Market Share Buy-Back
Sep 29, 2026
Perseus Mining Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program involving its ordinary fully paid shares. The update, dated 29 September 2026, confirms the continued execution of the buy-back,...
Perseus Mining Cuts Potential Dilution as Performance Rights Lapse
Sep 29, 2026
Perseus Mining Limited has notified the market of the cessation of 223,240 performance rights, which have lapsed after the conditions attached to these rights were not met or became incapable of being satisfied. The lapse of these conditional secu...
Perseus Mining Updates Market on Progress of Daily Share Buy-Back
Sep 28, 2026
Perseus Mining Limited has provided an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares, under ASX code PRU. The update, dated 28 September 2026, confirms the continued execution of daily purc...
Perseus Mining Updates Market on Progress of On-Market Share Buy-Back
Sep 27, 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 update, dated 25 September 2026, confirms that a total of 54,665 shares ha...
Perseus Mining Reaffirms JORC-Compliant Ore Reserves and Flags Key Operational Risks
Sep 24, 2026
Perseus Mining has reaffirmed that its production targets are supported by ore reserves estimated by competent persons in accordance with the JORC Code, and that the key assumptions underlying its reported mineral resources and reserves remain unc...
Perseus Mining Updates Market on Daily On-Market Share Buy-Back
Sep 24, 2026
Perseus Mining has provided an updated notification to the ASX regarding its on-market share buy-back for ordinary fully paid shares under code PRU. The latest filing, dated 24 September 2026, confirms that 54,665 shares were repurchased on the pr...
Perseus Mining Sets Date and Digital Focus for 2026 AGM
Sep 21, 2026
Perseus Mining Limited has scheduled its 2026 Annual General Meeting for 30 November 2026 at 4 p.m. AWST at its Subiaco, Western Australia offices. The closing date for receipt of director nominations is 12 October 2026, setting the timetable for ...
Perseus Mining updates interim dividend notice with exchange rates
Sep 18, 2026
Perseus Mining Limited has updated its previously announced interim dividend notification for holders of its ordinary fully paid shares. The update, dated 18 September 2026, adds exchange rate information to the earlier notice released on 25 Augus...
Perseus Mining Updates Details of Ongoing On-Market Share Buy-Back
Sep 18, 2026
Perseus Mining has updated the market on its ongoing on-market share buy-back of ordinary fully paid shares, clarifying that the latest amendment relates to the completion of broker details under its existing program. The notification, dated 18 Se...
Macquarie Group exits as substantial shareholder in Perseus Mining
Sep 17, 2026
Macquarie Group Limited and its controlled entities have lodged a notice advising that they have ceased to be a substantial holder in Perseus Mining. The filing, signed by Macquarie’s company secretary Simone Kovacic, formalises changes in M...
Macquarie exits substantial shareholder position in Perseus Mining
Sep 14, 2026
Perseus Mining has disclosed that Macquarie Group Limited and its controlled entities have ceased to be substantial shareholders in the company, as formally notified in a statutory filing dated 14 September 2026. The notice, lodged under Australia...
Perseus Mining Issues New Unquoted Performance Rights Under Employee Incentive Plan
Sep 11, 2026
Perseus Mining Limited is an ASX-listed gold producer operating in West Africa, with a focus on exploration, development and production of gold projects. The company employs equity-based incentive schemes to tie employee and executive compensation...
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...
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.