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Boliden Delivers Strong Q1 but Cuts Garpenberg Outlook After Seismic Setback

Story Highlights
  • Boliden posted sharply higher Q1 2026 revenue and profit, boosted by strong metal prices and solid mining and smelting performance.
  • Seismic disruptions at Garpenberg triggered a major write-down and steep production guidance cuts, tempering otherwise robust operational momentum.
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An update from Boliden AB ( (SE:BOL) ) is now available.

Boliden reported a strong first quarter of 2026, with revenues rising to SEK 27.8 billion and operating profit reaching SEK 5.25 billion, supported by higher metal prices and solid performances in both its Mines and Smelters divisions. Free cash flow turned positive and earnings per share increased markedly, underlining improved profitability.

Operationally, the Aitik and Kevitsa mines delivered continued strong production and the smelters saw a significant year-on-year increase in gold and silver output, while the Odda zinc smelter began ramping up its expansion. However, abnormal seismic activity at the Garpenberg mine forced a SEK 700 million asset write-down, reduced volumes by SEK 400 million and led Boliden to sharply cut its 2026 volume guidance and lower its 2027 production outlook there, highlighting a key operational headwind despite otherwise robust group performance.

The most recent analyst rating on (SE:BOL) stock is a Hold with a SEK510.00 price target. To see the full list of analyst forecasts on Boliden AB stock, see the SE:BOL Stock Forecast page.

More about Boliden AB

Boliden AB is a European producer of sustainable metals active in exploration, mining, smelting and recycling, with about 7,500 employees and annual revenues of roughly SEK 90 billion. Listed on Nasdaq Stockholm’s Large Cap segment, the company focuses on climate-friendly, responsibly produced base and precious metals for industrial customers across the region.

Average Trading Volume: 1,461,797

Technical Sentiment Signal: Buy

Current Market Cap: SEK150.9B

For an in-depth examination of BOL stock, go to TipRanks’ Overview page.

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