Aura Minerals (AUGO)
Market Price (9/23/2026): $94.0 | Market Cap: $7.9 BilSector: Materials | Industry: Gold
Aura Minerals (AUGO)
Market Price (9/23/2026): $94.0Market Cap: $7.9 BilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.4% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 89% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 52% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% Megatrend and thematic driversMegatrends include Renewable Energy Transition. Themes include Solar Energy Generation, Wind Energy Development, and Battery Storage & Grid Modernization. | Stock price has recently run up significantly12M Rtn12 month market price return is 181% Key risksAUGO key risks include [1] operational and project execution challenges, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.4% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 89% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 52% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition. Themes include Solar Energy Generation, Wind Energy Development, and Battery Storage & Grid Modernization. |
| Stock price has recently run up significantly12M Rtn12 month market price return is 181% |
| Key risksAUGO key risks include [1] operational and project execution challenges, Show more. |
Qualitative Assessment
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Aura Minerals (AUGO) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial and Operational Results. Aura Minerals reported robust financial performance for fiscal Q2 2026, which ended on June 30, 2026. The company's first half (H1 2026) production of gold equivalent ounces (GEO) increased by 27% year-over-year to 158,000 GEO. Adjusted EBITDA for H1 2026 reached US$440.527 million, marking a significant 135% year-over-year increase, and trailing twelve-month Adjusted EBITDA hit US$802 million, indicating twelve consecutive quarters of growth. Furthermore, recurring free cash flow for the first half of 2026 more than doubled compared to the previous year, reaching US$175 million. These strong results, which included a reported Q2 2026 EPS of $2.57 and revenue of $335.97 million, demonstrated the company's improved operational efficiency and profitability.
2. Progressive Growth Strategy and Project Development. Aura Minerals is actively pursuing an ambitious growth plan aimed at more than doubling its 2025 output, targeting over 600,000 GEOs annually. During the period, the company made considerable progress on key projects. Construction at the Era Dorada project was reported to be on schedule, with earthmoving 60% complete by the end of June 2026. Additionally, the turnaround efforts at the MSG mine are establishing the necessary infrastructure for a significant production increase in fiscal year 2027, and the Almas mine is advancing its expansion towards 3 Mtpa. Reinforcing this growth trajectory, Aura secured a US$200 million syndicated loan facility on September 18, 2026, designated to support supplier obligations and production-related costs associated with its expansion initiatives.
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Aura Minerals (AUGO) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial and Operational Results. Aura Minerals reported robust financial performance for fiscal Q2 2026, which ended on June 30, 2026. The company's first half (H1 2026) production of gold equivalent ounces (GEO) increased by 27% year-over-year to 158,000 GEO. Adjusted EBITDA for H1 2026 reached US$440.527 million, marking a significant 135% year-over-year increase, and trailing twelve-month Adjusted EBITDA hit US$802 million, indicating twelve consecutive quarters of growth. Furthermore, recurring free cash flow for the first half of 2026 more than doubled compared to the previous year, reaching US$175 million. These strong results, which included a reported Q2 2026 EPS of $2.57 and revenue of $335.97 million, demonstrated the company's improved operational efficiency and profitability.
2. Progressive Growth Strategy and Project Development. Aura Minerals is actively pursuing an ambitious growth plan aimed at more than doubling its 2025 output, targeting over 600,000 GEOs annually. During the period, the company made considerable progress on key projects. Construction at the Era Dorada project was reported to be on schedule, with earthmoving 60% complete by the end of June 2026. Additionally, the turnaround efforts at the MSG mine are establishing the necessary infrastructure for a significant production increase in fiscal year 2027, and the Almas mine is advancing its expansion towards 3 Mtpa. Reinforcing this growth trajectory, Aura secured a US$200 million syndicated loan facility on September 18, 2026, designated to support supplier obligations and production-related costs associated with its expansion initiatives.
3. Favorable Macroeconomic Tailwinds from Commodity Prices. The company benefited significantly from a supportive commodity price environment for both gold and copper. The average realized gold price for Aura Minerals in fiscal Q2 2026 was US$4,304 per ounce, representing a 35% increase year-over-year. Gold prices continued to show strength, trading around $4,325.69 on September 22, 2026, with Goldman Sachs forecasting prices to rise to $4,900 per ounce by the end of 2026, largely driven by strong central bank demand. Simultaneously, copper prices surged to record highs, exceeding $14,500 per tonne in early September 2026 (reaching an all-time high of $6.85 per pound), driven by tight global supply—which saw mine output fall 1.1% in H1 2026—and robust demand fueled by the energy transition and the burgeoning AI and data center sectors.
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Stock Movement Drivers
Fundamental Drivers
The 21.2% change in AUGO stock from 5/31/2026 to 9/22/2026 was primarily driven by a 197.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 76.56 | 92.77 | 21.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,143 | 1,288 | 12.7% |
| Net Income Margin (%) | 7.8% | 23.2% | 197.4% |
| P/E Multiple | 71.8 | 26.0 | -63.8% |
| Shares Outstanding (Mil) | 84 | 84 | -0.3% |
| Cumulative Contribution | 21.2% |
Market Drivers
5/31/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| AUGO | 21.2% | |
| Market (SPY) | 2.5% | 44.7% |
| Sector (XLB) | -0.8% | 46.8% |
Fundamental Drivers
The 12.9% change in AUGO stock from 2/28/2026 to 9/22/2026 was primarily driven by a 66.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 82.17 | 92.77 | 12.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 772 | 1,288 | 66.9% |
| P/S Multiple | 8.7 | 6.0 | -30.6% |
| Shares Outstanding (Mil) | 82 | 84 | -2.6% |
| Cumulative Contribution | 12.9% |
Market Drivers
2/28/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| AUGO | 12.9% | |
| Market (SPY) | 13.3% | 53.9% |
| Sector (XLB) | -4.6% | 56.3% |
Fundamental Drivers
The 230.9% change in AUGO stock from 8/31/2025 to 9/22/2026 was primarily driven by a 97.0% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.03 | 92.77 | 230.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 680 | 1,288 | 89.4% |
| P/S Multiple | 3.1 | 6.0 | 97.0% |
| Shares Outstanding (Mil) | 74 | 84 | -11.3% |
| Cumulative Contribution | 230.9% |
Market Drivers
8/31/2025 to 9/22/2026| Return | Correlation | |
|---|---|---|
| AUGO | 230.9% | |
| Market (SPY) | 21.2% | 40.5% |
| Sector (XLB) | 11.5% | 48.3% |
Fundamental Drivers
The 1565.4% change in AUGO stock from 8/31/2023 to 9/22/2026 was primarily driven by a 249.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.57 | 92.77 | 1565.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 369 | 1,288 | 249.1% |
| Net Income Margin (%) | 11.5% | 23.2% | 101.7% |
| P/E Multiple | 9.5 | 26.0 | 174.7% |
| Shares Outstanding (Mil) | 72 | 84 | -13.9% |
| Cumulative Contribution | 1565.4% |
Market Drivers
8/31/2023 to 9/22/2026| Return | Correlation | |
|---|---|---|
| AUGO | 1565.4% | |
| Market (SPY) | 78.3% | 28.7% |
| Sector (XLB) | 29.2% | 37.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AUGO Return | -18% | -23% | 26% | 79% | 351% | 82% | 1075% |
| Peers Return | 2% | -26% | 13% | 18% | 147% | 15% | 186% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| AUGO Win Rate | 42% | 50% | 50% | 67% | 83% | 56% | |
| Peers Win Rate | 35% | 43% | 45% | 50% | 70% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| AUGO Max Drawdown | -42% | -54% | -32% | -19% | -24% | -54% | |
| Peers Max Drawdown | -45% | -55% | -41% | -33% | -34% | -43% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HBM, ERO, BTG, CDE, EQX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/22/2026 (YTD)
How Low Can It Go
| Event | AUGO | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.3% | -7.8% |
| % Gain to Breakeven | 11.5% | 8.5% |
| Time to Breakeven | 12 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -14.2% | -9.5% |
| % Gain to Breakeven | 16.6% | 10.5% |
| Time to Breakeven | 10 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.6% | -24.5% |
| % Gain to Breakeven | 87.3% | 32.4% |
| Time to Breakeven | 179 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.9% | -33.7% |
| % Gain to Breakeven | 42.7% | 50.9% |
| Time to Breakeven | 59 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.9% | -19.2% |
| % Gain to Breakeven | 20.3% | 23.8% |
| Time to Breakeven | 40 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -27.1% | -3.7% |
| % Gain to Breakeven | 37.2% | 3.9% |
| Time to Breakeven | 83 days | 6 days |
In The Past
Aura Minerals's stock fell -4.5% during the 2025 US Tariff Shock. Such a loss loss requires a 4.7% gain to breakeven.
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Asset Allocation
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| Event | AUGO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -46.6% | -24.5% |
| % Gain to Breakeven | 87.3% | 32.4% |
| Time to Breakeven | 179 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.9% | -33.7% |
| % Gain to Breakeven | 42.7% | 50.9% |
| Time to Breakeven | 59 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -27.1% | -3.7% |
| % Gain to Breakeven | 37.2% | 3.9% |
| Time to Breakeven | 83 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -54.8% | -6.8% |
| % Gain to Breakeven | 121.1% | 7.3% |
| Time to Breakeven | 85 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -73.1% | -0.2% |
| % Gain to Breakeven | 271.6% | 0.2% |
| Time to Breakeven | 2373 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -56.3% | -17.9% |
| % Gain to Breakeven | 128.6% | 21.8% |
| Time to Breakeven | 3506 days | 123 days |
In The Past
Aura Minerals's stock fell -4.5% during the 2025 US Tariff Shock. Such a loss loss requires a 4.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Aura Minerals (AUGO)
Aura Minerals (AUGO) is an Americas-focused mining company primarily engaged in the production of gold and copper, with additional silver output from some operations. The company's core business revolves around operating existing mines and developing new mining assets across the Americas, with a strategic emphasis on enhancing operational efficiencies, implementing responsible mining practices, and pursuing sustainable growth to deliver long-term value.
The company currently operates four wholly-owned mines: the Aranzazu copper-gold-silver mine in Mexico, the Apoena and Almas gold mines in Brazil, and the Minosa gold mine in Honduras. Aura Minerals is also ramping up its Borborema gold mine in Brazil, expected to achieve commercial production by the third quarter of 2025. Beyond its operating assets, the company holds significant exploration potential and is actively advancing development projects, including the Era Dorada gold project in Guatemala and the Matupá gold project and Carajás copper project, both in Brazil.
Strategically, Aura Minerals prioritizes high-Internal Rate of Return (IRR) growth opportunities, disciplined cost management, and expanding its resource base, aiming to balance capital appreciation with reliable dividend distributions for its investors. As a producer of essential commodities like gold, copper, and silver, its main products are sold on global markets, serving a diverse range of customers across industrial, jewelry, and investment sectors worldwide.
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Here are 1-3 brief analogies to describe Aura Minerals:
- Aura Minerals is like a growing, Americas-focused Newmont, but also extracting copper.
- Think of Aura Minerals as a leaner, value-driven Barrick Gold, operating across the Americas with both gold and copper.
- It's like Kinross Gold for Latin America, but with a significant copper presence.
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- Gold: A precious metal extracted from its mines, used for investment, jewelry, and industrial applications.
- Copper: An industrial metal produced from its mines, vital for electrical, construction, and electronic industries.
- Silver: A precious metal extracted as a byproduct, used in jewelry, electronics, and as an investment.
AI Analysis | Feedback
Aura Minerals (AUGO) is a gold and copper production company. Based on the nature of its operations, which involve mining and producing raw materials like gold, copper, and silver, Aura Minerals primarily sells to other companies rather than individuals.
The provided company description does not list specific names of customer companies. However, typical major customers for a mining company like Aura Minerals, which produces base and precious metals, would include:
- Metal Refineries and Smelters: Companies that process raw gold, copper, and silver concentrates or doré bars into refined metals.
- Commodity Trading Firms: Large firms specializing in the global buying and selling of raw materials and metals.
- Industrial Buyers: Companies that use refined gold, copper, or silver as raw materials in their manufacturing processes (e.g., electronics, jewelry, coinage, construction).
Due to the commodity nature of its products, Aura Minerals likely has a diverse base of industrial and trading partners, rather than a few individually identifiable major customers.
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Rodrigo Barbosa - President and CEO
Rodrigo Barbosa joined Aura Minerals in October 2016 and became President and CEO in January 2017. Prior to joining Aura Minerals, he served as the CEO of Tavex/Santista, where he successfully led a strategic, financial, marketing, and operational recovery. He also held the position of CFO for the investment holding Grupo Camargo Correa, one of Brazil's largest conglomerates. Mr. Barbosa has served as a board member for prominent public infrastructure companies in Brazil and worked as an investment analyst for BBA Creditanstalt (now Banco Itaú). He also has experience working with Potash Corporation in North America.
Joao Kleber Dos Santos Cardoso - Chief Financial Officer and Corporate Secretary
Joao Kleber Dos Santos Cardoso has served as the Chief Financial Officer of Aura Minerals since 2020. Before his tenure at Aura Minerals, he was the Chief Financial Officer of Santista, a significant denim manufacturer. Mr. Cardoso also contributed to M&A projects at Mover Participações and has a background in management consulting, having worked with A.T. Kearney and Accenture.
Glauber Luvizotto - Chief Operating Officer
Glauber Luvizotto serves as the Chief Operating Officer of Aura Minerals. His previous roles include Vice President of Operations for BrioGold Inc. He also gained experience at Yamana Gold Inc. and AngloGold Ashanti.
Pitágoras Costa - Director of Projects and Construction
Pitágoras Costa assumed the role of Director of Projects and Construction in Corporate for Aura Minerals in August 2024. He possesses extensive experience in project management, development, and implementation, having led studies and project implementations at companies such as Yamana Gold and Mineração Serra Verde. Mr. Costa also served as a Director of Projects and Operations at SVPM and held various management positions at Yamana Gold Inc. and Great Panther Mining. He has been involved in leading study development and project implementation within Aura Minerals since 2022.
Henrique Rangel - Director of Technical Services
Henrique Rangel took on the role of Director of Technical Services in Corporate for Aura Minerals in August 2024, overseeing all units. He brings solid experience in operations and technical services, having previously served as Plant Manager at Yamana Gold Inc. and BrioGold. Mr. Rangel also held the position of Chief of Metallurgy and Pyrometallurgy at AngloGold Ashanti Brazil. Within Aura Minerals, he served as the plant manager at Aranzazu since 2018 and took on the leadership of that unit in 2020.
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The key risks to Aura Minerals' business include volatile commodity prices, operational and project execution challenges, and jurisdictional uncertainties.
Firstly, as a gold and copper production company, Aura Minerals faces significant exposure to the inherent volatility of gold and copper prices. Fluctuations in these commodity prices directly impact the company's revenues, profitability, and cash flow. Given that gold prices were recently near record levels, a meaningful pullback could adversely affect realized pricing and investor sentiment.
Secondly, operational and project execution risks are substantial. Aura Minerals is actively expanding and building new mines, including the Borborema gold mine currently in its ramp-up phase and development projects like Era Dorada and Matupá. Such projects carry inherent risks of cost overruns, delays, and challenges in achieving expected production levels. Furthermore, the company faces operational headwinds such as lower ore grades, higher all-in sustaining costs (AISC), temporary disruptions at key producing assets, and the delayed turnaround of troubled assets like the MSG mine, which has notably high operating costs. Geological, technical, and safety risks also remain ongoing concerns that could affect production and mine life.
Finally, the company's operations in countries such as Brazil, Mexico, and Honduras, and development projects in Guatemala, expose it to significant jurisdictional and geopolitical risks. These risks include potential changes in mining laws, taxation policies, environmental regulations, social unrest, and other political or economic instability that could disrupt operations or impact profitability.
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Aura Minerals (AUGO) operates in the gold and copper production sectors. The addressable markets for these products are substantial, both globally and within Latin America, a key region for the company's operations.
Gold Market
The global gold market was valued at approximately USD 249.5 billion in 2025 and is projected to reach USD 263.97 billion in 2026. In terms of volume, the global gold market stood at 4,890.0 tons in 2025 and is expected to grow to 5,118.1 tons in 2026. Projections indicate further growth to 7,424.4 tons by 2034. The global gold market is expected to reach USD 835 billion by 2031.
In Latin America, the gold market was valued at USD 17.38 billion in 2025 and is anticipated to grow to USD 18.07 billion in 2026. The Latin America precious metal market, which includes gold, is expected to reach a projected revenue of USD 30,002.7 million by 2030, with gold being the most lucrative segment and registering the fastest growth. Notably, Latin America is projected to be the fastest-growing region for the gold mining market. Brazil alone is expected to attract gold project investments totaling US$2.46 billion between 2025 and 2030. In 2025, Argentina's gold exports contributed US$4.0 billion to its total mineral exports.
Copper Market
The global copper market was valued at approximately USD 248.2 billion in 2025 and is projected to grow to USD 260.2 billion in 2026. Another estimate places the global copper market size at USD 366.25 billion in 2026, with a projection to reach around USD 573.24 billion by 2035. In terms of volume, the market size is estimated at 27.34 million tons in 2026, growing from 26.29 million tons in 2025. The global copper market is expected to reach USD 388.8 billion by 2033.
Latin America holds a significant share in the copper market, contributing over 40% of the total global copper output. The copper mining market in Latin America was valued at USD 4.16 billion in 2025 and is projected to reach USD 4.31 billion in 2026. The broader Latin America copper market, encompassing copper products, is estimated at USD 8,470 million in 2025 and is projected to reach USD 13,460 million by 2030. The Latin America copper market is expected to reach a projected revenue of US$ 3,640.1 million by 2030. Chile and Peru are key contributors to copper production in the region.
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Aura Minerals (AUGO) is expected to drive future revenue growth over the next 2-3 years through several key initiatives focused on expanding production and developing new assets.
- Borborema Mine's Full Commercial Production and Ramp-Up: The Borborema gold mine in Brazil achieved commercial production on September 22, 2025, ahead of its previously anticipated Q3 2025 target. This mine is projected to be a significant contributor, with annual production reaching as high as 83,000 ounces during its initial three years, making it Aura's second-largest gold producer. The mill is operating above 80% of its design capacity, processing 4,500 tonnes per day. Aura is also finalizing engineering studies at Borborema to increase its capacity further.
- Increased Production and Turnaround at MSG (Mineração Serra Grande) Mine: Following its acquisition, the MSG mine is undergoing a turnaround and infrastructure development phase in 2026, with a strategic focus on preparing it to produce over 80,000 ounces per year at a lower cost in subsequent years. This investment is expected to lead to a significant production step-up in 2027.
- Expansion and Efficiency Improvements at Existing Mines: Aura Minerals is actively expanding the capacity of its existing operations, such as the Almas gold mine in Brazil, which is advancing its expansion towards 3 million tonnes per annum (Mtpa). These enhancements in processing capacity and operational efficiencies at current producing mines are anticipated to increase overall gold equivalent ounces (GEO) output.
- Development of New Gold Projects: The company is advancing key development projects, including the Era Dorada gold project in Guatemala and the Matupá gold project in Brazil. Construction at Era Dorada is on schedule with earthmoving 60% complete, and studies for Matupá are progressing with the incorporation of the Serrinhas and Pé Quente deposits. The successful progression and eventual commencement of production from these projects are vital for long-term revenue growth.
- Achievement of Ambitious Overall Production Targets: Aura Minerals has laid out an aggressive growth plan aiming for over 600,000 gold equivalent ounces (GEO) annually, which would more than double its 2025 output of 280,000 GEOs. The company's production guidance for the full year 2026 is set between 340,000 and 390,000 GEOs, demonstrating a clear trajectory of increasing production volumes.
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Share Repurchases
- Aura Minerals authorized repurchase programs up to US$200 million for common shares and Brazilian Depositary Receipts (AURA33) on June 18, 2026.
- These repurchase programs are active from June 18, 2026, until June 18, 2027, or until completed.
- The company plans to fund these repurchases using existing cash.
Inbound Investments
- Aura Minerals secured a US$200 million syndicated loan facility at the holding company level in September 2026.
- This loan was arranged by Citigroup Global Markets and Itaú BBA to fund supplier obligations and production-related costs, providing financial flexibility.
Outbound Investments
- Cash outflows for acquisitions amounted to approximately US$51.7 million in the last twelve months (TTM ending June 2026).
- The company's cash acquisitions were US$70.67 million in fiscal year 2025.
Capital Expenditures
- Aura Minerals updated its total capital expenditure guidance for 2026 to a range of US$386–463 million, primarily to fund the construction phase of the Era Dorada project.
- Expansion capital expenditures for 2026 were revised from US$111–130 million to US$262–314 million due to the Era Dorada project.
- Capital expenditures were approximately US$205.81 million in the last 12 months (TTM ending June 2026) and US$179.43 million in fiscal year 2025.
Peer Outperformance in Gold
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 84.0% | 109.5% | 344.8% | COPR 937% · TGB 426% · HBM 377% |
| Silver | 6 | 86.1% | 352.8% | 183.7% | AYA 363% · HL 259% · SVM 221% |
| Gold ← | 38 | 23.6% | 214.8% | 172.2% | AUGO 1099% · IAG 854% · AU 660% |
| Steel | 13 | 16.3% | 40.3% | 166.2% | HCC 360% · NWPX 341% · STLD 326% |
| Aluminum | 4 | 55.0% | 97.7% | 47.4% | CENX 180% · KALU 66% · CSTM 29% |
| Construction Materials | 9 | -19.3% | 20.5% | 44.6% | USLM 373% · CRH 86% · TGLS 77% |
| Diversified Metals & Mining | 24 | -17.1% | -11.7% | 24.1% | ATLX 218471% · USAR 56913% · TII 769% |
| Paper & Plastic Packaging Products & Materials | 7 | 11.3% | 12.6% | -6.1% | PKG 93% · CCK 9% · SON 1% |
| Metal, Glass & Plastic Containers | 12 | -4.0% | 16.2% | -12.2% | KRT 205% · MYE 83% · GEF 56% |
| Specialty Chemicals | 42 | 9.4% | 3.3% | -13.3% | ODC 486% · NEU 193% · CMT 103% |
| Precious Metals & Minerals | 8 | 32.7% | 185.1% | -23.0% | ASM 665% · PPTA 379% · MTA 49% |
| Diversified Chemicals | 4 | -1.7% | -27.3% | -26.1% | CBT 76% · ASH -17% · CC -35% |
| Commodity Chemicals | 12 | 16.1% | -14.1% | -27.5% | HWKN 277% · KOP 55% · MEOH 40% |
| Fertilizers & Agricultural Chemicals | 10 | -10.7% | -3.2% | -38.0% | CF 150% · CTVA 100% · NTR 39% |
| Paper Products | 4 | -20.8% | -49.4% | -67.4% | SLVM 67% · CLW -39% · ITP -96% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.11 |
| Mkt Cap | 8.9 |
| Rev LTM | 2,507 |
| Op Inc LTM | 853 |
| FCF LTM | 246 |
| FCF 3Y Avg | 219 |
| CFO LTM | 877 |
| CFO 3Y Avg | 634 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 92.2% |
| Rev Chg 3Y Avg | 47.5% |
| Rev Chg Q | 75.2% |
| QoQ Delta Rev Chg LTM | 12.9% |
| Op Inc Chg LTM | 133.3% |
| Op Inc Chg 3Y Avg | 126.2% |
| Op Mgn LTM | 37.1% |
| Op Mgn 3Y Avg | 27.5% |
| QoQ Delta Op Mgn LTM | 0.8% |
| CFO/Rev LTM | 37.9% |
| CFO/Rev 3Y Avg | 34.4% |
| FCF/Rev LTM | 16.3% |
| FCF/Rev 3Y Avg | 10.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aranzazu Mine | 246 | 197 | 177 | 164 | 151 |
| Minosa Mine | 231 | 178 | 122 | 109 | 155 |
| Almas Mine | 196 | 129 | 34 | 0 | 0 |
| Apoena Mine | 120 | 90 | 84 | 120 | 118 |
| Borborema Mine | 108 | 0 | 0 | ||
| Serra Grande Mine | 20 | ||||
| Non reportable segments | 0 | 0 | |||
| All other segments | 0 | ||||
| Corporate | 0 | 0 | |||
| Projects | 0 | ||||
| Matupa & Tolda Fria Projects | 0 | ||||
| Total | 922 | 594 | 417 | 393 | 424 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Minosa Mine | 131 | 75 | 28 | 20 | 74 |
| Almas Mine | 115 | 60 | 5 | -3 | -0 |
| Aranzazu Mine | 112 | 63 | 58 | 55 | 61 |
| Borborema Mine | 69 | -1 | -1 | ||
| Apoena Mine | 56 | 24 | 9 | 32 | 33 |
| Serra Grande Mine | 5 | ||||
| Non reportable segments | -30 | -18 | |||
| All other segments | -11 | ||||
| Corporate | -13 | -11 | |||
| Projects | -4 | ||||
| Matupa & Tolda Fria Projects | -0 | ||||
| Total | 459 | 204 | 88 | 88 | 156 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Minosa Mine | 95 | 48 | 15 | 18 | 46 |
| Almas Mine | 66 | 24 | 11 | -6 | -3 |
| Aranzazu Mine | 63 | 29 | 43 | 45 | 36 |
| Apoena Mine | 37 | 5 | -4 | 17 | 23 |
| Borborema Mine | 34 | -14 | -0 | ||
| Serra Grande Mine | 4 | ||||
| Non reportable segments | -380 | -122 | |||
| All other segments | -33 | ||||
| Corporate | -14 | -9 | |||
| Projects | -4 | ||||
| Matupa & Tolda Fria Projects | -0 | ||||
| Total | -79 | -30 | 32 | 56 | 93 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aranzazu Mine | 428 | 346 | 286 | 157 | 164 |
| Almas Mine | 325 | 301 | 157 | 146 | 123 |
| Apoena Mine | 202 | 190 | 187 | 199 | 128 |
| Serra Grande Mine | 197 | ||||
| Non reportable segments | 187 | 17 | |||
| Borborema Mine | 163 | 135 | 195 | ||
| Minosa Mine | 108 | 91 | 59 | 115 | 98 |
| All other segments | 40 | ||||
| Corporate | 40 | 48 | |||
| Investment in joint venture | 54 | 0 | |||
| Projects | 15 | ||||
| Matupa & Tolda Fria Projects | 14 | ||||
| Total | 1,609 | 1,080 | 924 | 727 | 574 |
Price Behavior
| Market Price | $92.77 | |
| Market Cap ($ Bil) | 7.8 | |
| First Trading Date | 07/27/2009 | |
| Distance from 52W High | -13.3% | |
| 50 Days | 200 Days | |
| DMA Price | $73.64 | $58.62 |
| DMA Trend | up | up |
| Distance from DMA | 26.0% | 58.3% |
| 3M | 1YR | |
| Volatility | 76.0% | 73.8% |
| Downside Capture | 161.79 | 222.09 |
| Upside Capture | 328.79 | 304.36 |
| Correlation (SPY) | 34.2% | 41.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.11 | 2.53 | 2.67 | 3.17 | 2.28 | 0.94 |
| Up Beta | -0.50 | 1.51 | 2.13 | 3.45 | 2.62 | 0.87 |
| Down Beta | 2.82 | 3.85 | 3.52 | 2.75 | 1.39 | 0.64 |
| Up Capture | 528% | 433% | 318% | 469% | 836% | 506% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 13 | 21 | 29 | 63 | 137 | 310 |
| Down Capture | -403% | 131% | 212% | 241% | 155% | 90% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 8 | 21 | 35 | 64 | 113 | 236 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AUGO | |
|---|---|---|---|---|
| AUGO | 203.7% | 74.0% | 1.81 | - |
| Sector ETF (XLB) | 13.3% | 17.9% | 0.54 | 50.0% |
| Equity (SPY) | 17.6% | 13.0% | 0.98 | 41.6% |
| Gold (GLD) | 18.0% | 29.3% | 0.56 | 76.4% |
| Commodities (DBC) | 46.6% | 20.7% | 1.75 | 1.2% |
| Real Estate (VNQ) | 5.2% | 13.6% | 0.12 | 19.7% |
| Bitcoin (BTCUSD) | -26.0% | 44.9% | -0.54 | 32.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AUGO | |
|---|---|---|---|---|
| AUGO | 41.8% | 69.8% | 1.33 | - |
| Sector ETF (XLB) | 6.1% | 19.1% | 0.21 | 32.4% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 26.7% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 56.3% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 7.9% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.05 | 21.8% |
| Bitcoin (BTCUSD) | 12.7% | 52.6% | 0.42 | 19.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AUGO | |
|---|---|---|---|---|
| AUGO | 50.0% | 80.0% | 1.68 | - |
| Sector ETF (XLB) | 9.9% | 20.7% | 0.42 | 25.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 24.3% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 40.8% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 11.8% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 21.6% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Insider Activity
Updated 9/22/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9182026 | 92.40 | 73,925 | 6,830,464 | 1,118,838 | Form | |
| 2 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9142026 | 87.40 | 54,991 | 4,806,469 | 6,121,822 | Form | |
| 3 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9102026 | 86.61 | 53,627 | 4,644,366 | 10,828,310 | Form | |
| 4 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 9032026 | 81.10 | 1 | 81 | 13,835,011 | Form | |
| 5 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 9022026 | 79.89 | 10 | 799 | 23,237,285 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9182026 | 92.40 | 73,925 | 6,830,464 | 1,118,838 | Form | |
| 2 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9142026 | 87.40 | 54,991 | 4,806,469 | 6,121,822 | Form | |
| 3 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9102026 | 86.61 | 53,627 | 4,644,366 | 10,828,310 | Form | |
| 4 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 9032026 | 81.10 | 1 | 81 | 13,835,011 | Form | |
| 5 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 9022026 | 79.89 | 10 | 799 | 23,237,285 | Form | |
| 6 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9022026 | 81.20 | 127,500 | 10,353,000 | 13,265,319 | Form | |
| 7 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 9012026 | 86.48 | 252,000 | 21,792,751 | 36,092,601 | Form | |
| 8 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 9012026 | 86.73 | 157,500 | 13,660,267 | 22,537,793 | Form | |
| 9 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 8262026 | 88.45 | 120,757 | 10,680,957 | 6,665,238 | Form | |
| 10 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 8252026 | 88.11 | 222,652 | 19,617,868 | 6,265,766 | Form | |
| 11 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 8242026 | 86.00 | 125,000 | 10,750,000 | 3,763,790 | Form | |
| 12 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 8212026 | 80.20 | 64,713 | 5,189,983 | 18,006,103 | Form |
| 13 | Dos, Santos Cardoso Joao Kleber | CFO and Corporate Secretary | Direct | Sell | 8202026 | 80.12 | 7,934 | 635,672 | 7,860,653 | Form |
| 14 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 8202026 | 81.67 | 280,000 | 22,867,600 | 13,783,038 | Form | |
| 15 | Sousa, Mauad Bruno | Kapitalo Investimentos | Buy | 8182026 | 78.93 | 11,000 | 868,230 | 35,421,021 | Form | |
| 16 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 8182026 | 80.00 | 1,400 | 112,000 | 23,138,240 | Form |
| 17 | Dos, Santos Cardoso Joao Kleber | CFO and Corporate Secretary | Direct | Sell | 8182026 | 80.00 | 2,066 | 165,280 | 8,483,600 | Form |
| 18 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 8112026 | 75.02 | 50,000 | 3,751,000 | 21,802,913 | Form |
| 19 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 8112026 | 70.10 | 50,000 | 3,505,000 | 23,878,023 | Form |
| 20 | Dos, Santos Cardoso Joao Kleber | CFO and Corporate Secretary | Direct | Sell | 8102026 | 70.03 | 10,000 | 700,300 | 7,571,013 | Form |
| 21 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 7062026 | 65.23 | 19,010 | 1,240,022 | 25,480,664 | Form |
| 22 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 7022026 | 65.00 | 2,300 | 149,500 | 26,626,470 | Form |
| 23 | Dos, Santos Cardoso Joao Kleber | CFO and Corporate Secretary | Direct | Sell | 7012026 | 61.95 | 60,000 | 3,716,994 | 7,316,964 | Form |
| 24 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 6302026 | 65.27 | 22,367 | 1,459,894 | 26,887,193 | Form |
| 25 | Rosa, Luvizotto Glauber | Chief Operating Officer | Direct | Sell | 6242026 | 65.22 | 6,323 | 412,386 | 28,325,372 | Form |
| 26 | Sousa, Mauad Bruno | (3) | Buy | 6042026 | 64.95 | 2,800 | 181,860 | 28,432,837 | Form | |
| 27 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 6012026 | 77.48 | 100,000 | 7,748,000 | 33,701,088 | Form | |
| 28 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 6012026 | 76.98 | 32,356 | 2,490,765 | 41,181,606 | Form | |
| 29 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 5282026 | 75.62 | 9,652 | 729,884 | 42,900,814 | Form | |
| 30 | Barbosa, Rodrigo Cardoso | President and CEO | Direct | Sell | 5132026 | 82.63 | 55,000 | 4,544,650 | 61,125,129 | Form |
| 31 | Sousa, Mauad Bruno | Kapitalo Investimentos | Sell | 5132026 | 83.95 | 38,384 | 3,222,337 | 48,436,883 | Form | |
| 32 | Barbosa, Rodrigo Cardoso | President and CEO | Direct | Sell | 5132026 | 81.43 | 60,000 | 4,885,800 | 64,716,085 | Form |
| 33 | Barbosa, Rodrigo Cardoso | President and CEO | Direct | Sell | 3232026 | 61.75 | 5,000 | 308,726 | 52,776,401 | Form |
| 34 | Barbosa, Rodrigo Cardoso | President and CEO | Direct | Sell | 3232026 | 65.82 | 10,000 | 658,182 | 56,586,868 | Form |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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