The Perseus Mining Ltd (ASX: PRU) share price is in focus after the company reported record FY26 results, with profit after tax rising 14% to $480.5 million and revenue up 19% to $1.48 billion.
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What did Perseus Mining report?
- Revenue of $1.484 billion, up 19% year on year
- Net profit after tax of $480.5 million, up 14%
- EBITDA of $860.5 million, up 16%
- Operating cash flow of $666.4 million, up 24%
- Final dividend of 9 cents per share, full-year dividend of 14 cents, up 87%
- Cash and bullion holdings of $1.03 billion
What else do investors need to know?
Perseus Mining completed $126 million of its $150 million FY26 share buyback, and renewed its buyback program with approval to invest up to $350 million more over the next year. The company's strong balance sheet is supported by an undrawn US$400 million debt facility.
Perseus is also planning a further $100 million distribution to shareholders from the proceeds of the Meyas Sand Project sale in Sudan, pending final structure and approvals. A revised capital management policy sets a minimum dividend of 20% of post-NCI operating cash flow.
Project progress remains strong, with the Nyanzaga Gold Project in Tanzania now 67% complete and on track for first gold pour in January 2027.
What did Perseus Mining management say?
Perseus's Managing Director and CEO, Craig Jones, said:
Perseus has delivered a record financial result for FY26 delivering on production and cost guidance again, a reflection of the Company's ongoing commitment to delivering on its priorities. Strong gold prices supported our delivery of record net operating cash flow of $666 million, up 24% year on year, enabling a record year for shareholder returns. Today we announced a final dividend of 9 cents per share taking our full year dividend to 14 cents, up 87%, alongside A$126 million in on-market share buy-backs during the year.
FY26 was also a year of major project momentum with our Nyanzaga Gold Project in Tanzania on track for first gold pour in January 2027 and the achievement of first gold pour from the CMA underground in Côte d'Ivoire.
Our Mineral Resource and Ore Reserve update released today demonstrates Perseus's ongoing ability to grow its resources, with a 37% increase in Measured and Indicated Resources and a 40% increase in Proved & Probable Reserves compared to FY25.
What's next for Perseus Mining?
Looking ahead, Perseus expects gold production for FY27 between 420,000 and 480,000 ounces, with all-in site costs forecast between US$1,835 and US$2,070 per ounce. Development focus remains on bringing Nyanzaga online, with commercial production planned for Q4 FY27.
The company also aims to maintain a robust capital management strategy, with a focus on returning value to shareholders through dividends and share buybacks, while prioritising project execution and sustainability outcomes.
Perseus Mining share price snapshot
Perseus Mining's share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a 65% gain, reflecting strong earnings and record shareholder distributions.
