Perseus Mining Limited (AU:PRU)
ASX:PRU
Top Page
Perseus Mining
(Sydney:PRU)
Select Model
Select Model
Rating:67Neutral
Price Target:
AU$5.50
▲(4.17% Upside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by solid financial strength and attractive valuation (low P/E with a modest dividend). These positives are meaningfully offset by weak technical momentum (downtrend with negative MACD) and earnings-call risks centered on higher cost guidance and operational/fiscal headwinds, despite strong liquidity and a supportive long-life reserve upgrade.
Positive Factors
Strong liquidity
Substantial cash balances plus an upsized credit facility provide durable financial flexibility to fund Nyanzaga construction, exploration and dividends. This reduces refinancing risk, supports capital allocation through cycles and preserves ability to absorb commodity or operational shocks over the next 2–6 months.
Negative Factors
Rising unit costs (AISC)
An upward AISC revision driven by royalty increases and open‑pit sequencing creates structural margin pressure, reducing cash flow sensitivity to gold price and tightening funds available for growth or shareholder returns. Persistently higher AISC can compress long‑term operating margins and capital planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity
Substantial cash balances plus an upsized credit facility provide durable financial flexibility to fund Nyanzaga construction, exploration and dividends. This reduces refinancing risk, supports capital allocation through cycles and preserves ability to absorb commodity or operational shocks over the next 2–6 months.
Read all positive factors
Perseus Mining (PRU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.11B
Dividend Yield1.32%
Average Volume (3M)6.39M
Price to Earnings (P/E)11.5
Beta (1Y)1.15
Revenue Growth23.35%
EPS Growth15.96%
CountryAU
Employees1,100
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.17
Shares Outstanding1,346,377,100
10 Day Avg. Volume5,861,548
30 Day Avg. Volume6,390,236
Financial Highlights & Ratios
PEG Ratio-0.55
Price to Book (P/B)1.54
Price to Sales (P/S)3.74
P/FCF Ratio14.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.08Price Target Upside34.18% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.37
Revenue Forecast (FY)AU$1.52B
Perseus Mining Business Overview & Revenue Model
Company Description
Perseus Mining Limited explores, evaluates, develops, and mines for gold properties in West Africa. The company primarily holds interests in the Edikan gold mine project located in Ghana; and Sissingué and Yaoure gold projects located in Côte d'Iv...
How the Company Makes Money
Perseus Mining primarily makes money by producing gold from its mines and selling that gold into the global bullion market. Revenue is generated from (1) gold sales: the company mines gold-bearing ore, processes it to recover gold and produces dor...
Perseus Mining Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 02, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive operational and financial picture: strong realized gold prices, solid cash generation, robust liquidity (~$1.2B when including undrawn facilities), a doubled interim dividend and a material 73% reserve increase at Nyanzaga that extends mine life and establishes a long‑life cornerstone asset. Offsetting factors include margin pressure from higher royalties and open‑pit transitions, an upward revision to AISC guidance, an 8% decline in profit after tax, a $27M FX loss, safety fatalities at Sissingué, and some fiscal uncertainty in Côte d'Ivoire. On balance, the company's strong balance sheet, significant reserve upgrade and shareholder returns meaningfully outweigh the operational and fiscal headwinds discussed.Positive Updates
Strong production and unit costs (H1)
Produced 188,841 ounces in the 6 months with an all-in site cost of $1,649/oz and a cash margin of $1,592/oz.
Negative Updates
Uncertainty around Côte d'Ivoire mining code
Ongoing negotiations and a pending new mining code in Côte d'Ivoire create fiscal uncertainty (industry engagement positive, but outcomes and ratification timing remain unresolved).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong production and unit costs (H1)
Produced 188,841 ounces in the 6 months with an all-in site cost of $1,649/oz and a cash margin of $1,592/oz.
Read all positive updates
Company Guidance
Perseus kept FY26 production guidance unchanged at 400,000–440,000 ounces (production weighted to H2) but raised group all‑in site cost guidance from $1,460–$1,620/oz to roughly $1,600–$1,760/oz to reflect higher gold‑price‑linked royalties (including a 2% increase in Côte d’Ivoire) and mine sequencing; the company also announced a 73% increase in Nyanzaga ore reserves to 4.0 Moz (90.9 Mt at 1.38 g/t JORC probable), extending mine life to 16 years with >200 kozpa from FY28–FY41, ~3.5 Moz total production, a life‑of‑mine AISC of $1,621/oz on a $3,000/oz long‑term price and first gold targeted January 2027, while reserve updates for Yaouré (end of year) and Edikan (Dec‑26) are pending and guidance assumes inclusion of higher‑grade sources at Edikan and Sissingué.Perseus Mining Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.13B | 1.25B | 685.64M | 1.43B | 1.13B | 679.73M |
| Gross Profit | 567.39M | 740.31M | 417.91M | 821.31M | 564.14M | 303.06M |
| EBITDA | 594.26M | 726.94M | 411.74M | 796.51M | 504.39M | 273.13M |
| Net Income | 312.84M | 370.87M | 494.87M | 427.40M | 233.59M | 116.22M |
Balance Sheet | ||||||
| Total Assets | 2.72B | 3.77B | 2.98B | 2.42B | 1.99B | 1.41B |
| Cash, Cash Equivalents and Short-Term Investments | 683.56M | 751.83M | 804.94M | 728.92M | 426.85M | 181.54M |
| Total Debt | 4.14M | 4.17M | 4.70M | 3.90M | 86.54M | 137.40M |
| Total Liabilities | 253.19M | 270.94M | 308.55M | 270.22M | 346.53M | 350.50M |
| Stockholders Equity | 2.23B | 3.04B | 2.37B | 1.92B | 1.47B | 1.03B |
Cash Flow | ||||||
| Free Cash Flow | 160.56M | 329.54M | 521.85M | 448.17M | 383.03M | 52.53M |
| Operating Cash Flow | 411.18M | 536.66M | 646.95M | 648.32M | 522.91M | 302.02M |
| Investing Cash Flow | -391.52M | -211.13M | -493.04M | -200.16M | -165.70M | -249.21M |
| Financing Cash Flow | -190.81M | -142.17M | -68.36M | -125.79M | -113.39M | -81.35M |
Perseus Mining Technical Analysis
Positive
5.28
Price Trends
5.55
Negative
5.52
Negative
4.77
Positive
Market Momentum
-0.12
Negative
50.36
Neutral
86.23
Negative
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 5.28 is above the 20-day moving average (MA) of 5.14, below the 50-day MA of 5.55, and above the 200-day MA of 4.77, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 50.36 is Neutral, neither overbought nor oversold. The STOCH value of 86.23 is Negative, 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$5.09B | 4.43 | 27.80% | 0.65% | 30.46% | ― | |
73 Outperform | AU$6.71B | 8.70 | 28.87% | ― | 109.79% | 158.18% | |
67 Neutral | AU$7.11B | 11.53 | 12.40% | 1.32% | 23.35% | 15.96% | |
67 Neutral | AU$3.70B | 7.22 | 23.72% | ― | 23.87% | 92.57% | |
66 Neutral | AU$6.98B | -160.00 | 9.94% | 1.92% | 36.34% | 110.55% | |
64 Neutral | AU$2.98B | 22.93 | 17.03% | ― | 42.75% | -5.56% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:PRU
Perseus Mining
5.28
2.05
63.32%
AU:WAF
West African Resources Ltd
3.24
0.90
38.46%
AU:RSG
Resolute Mining
1.40
0.96
217.05%
AU:RRL
Regis Resources Limited
6.72
2.84
73.24%
AU:RMS
Ramelius Resources Limited
3.68
1.31
55.41%
AU:GMD
Genesis Minerals Limited
5.87
2.17
58.65%
Perseus Mining Corporate Events
Perseus Mining Buys 9.9% Stake in Aurum to Boost Côte d’Ivoire Gold Footprint
Mar 22, 2026
Perseus Mining has taken a 9.9% stake in Aurum Resources via participation in Aurum’s latest equity raising, investing A$23.69 million to gain exposure to the Boundiali Gold Project in northern Côte d’Ivoire. Aurum’s flagshi...
Perseus Mining Updates Six-Month Dividend Details With Exchange Rates
Mar 13, 2026
Perseus Mining Limited has updated its previously announced dividend notification for holders of its ordinary fully paid shares, adding the applicable exchange rates for the distribution. The dividend relates to the six-month period ending 31 Dece...
Perseus Mining Seeks ASX Quotation for New Employee Incentive Shares
Mar 9, 2026
Perseus Mining Limited has applied to the ASX for quotation of 28,267 new ordinary fully paid shares. The securities have been issued under an employee incentive scheme and, once quoted, will increase the company’s listed share count, modest...
Perseus Mining Updates Market on Progress of On-Market Share Buy-Back
Mar 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 company reported that it had repurchased a total of 2,640,176 shares prior to the...
Perseus Mining Updates Market on Progress of On‑Market Share Buy‑Back
Mar 5, 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 disclosure reports that the company repurchased 346,330 shares on th...
Perseus Mining Updates Market on Daily Progress of On-Market Share Buy-Back
Feb 26, 2026
Perseus Mining Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest filing, dated 26 February 2026, reports that a total of 1,949,887 shares had been...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
Feb 24, 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 update, dated 24 February 2026, reports that the company had repurchased a cumu...
Perseus Mining Reaffirms Ore Reserves and Underlying Assumptions Across Key Gold Assets
Feb 23, 2026
Perseus Mining has reaffirmed that its production targets are supported by Ore Reserve estimates prepared by competent persons under the JORC Code, covering key assets including Nyanzaga, Edikan, Sissingué, Fimbiasso and Bagoé. The compa...
Perseus Mining Declares Interim Dividend of A$0.05 per Share
Feb 19, 2026
Perseus Mining Limited, an Australian-listed gold producer trading under the ticker PRU, operates through ordinary fully paid shares and focuses on gold mining and related revenue-generating activities. The company returns capital to investors via...
Perseus Mining Reaffirms Ore Reserve Assumptions and Flags Ongoing Sector Risks
Feb 19, 2026
Perseus Mining has reaffirmed that all production targets referenced in its latest report are supported by JORC-compliant Ore Reserves for its Nyanzaga, Edikan, Sissingué, Fimbiasso and Bagoé assets, with previously disclosed resource an...
Perseus Mining Lifts Nyanzaga Gold Ore Reserves to 4.0 Moz, Extends Mine Life to 16 Years
Feb 19, 2026
Perseus Mining has substantially increased the Ore Reserve at its Nyanzaga Gold Project in Tanzania to 4.0 million ounces, up 73% from the previous estimate of 2.3 million ounces. The updated reserve, based on 90.9 million tonnes at 1.38 grams per...
Perseus Mining Doubles Interim Dividend as Strong Gold Prices Drive H1 FY26 Profit
Feb 19, 2026
Perseus Mining reported a profit after tax of US$185.5 million for the six months to 31 December 2025, supported by a 5% rise in revenue to US$608.5 million as higher realised gold prices offset lower production and sales volumes. The company decl...
Perseus Mining Files Interim Financial Report for Half Year 2025
Feb 19, 2026
Perseus Mining has released its interim financial report for the half year ended 31 December 2025, lodged with the Australian Securities Exchange under the relevant listing rules. The document outlines the company’s operational review, finan...
Perseus Mining Sets Investor Call for Release of H1 FY26 Results
Feb 4, 2026
Perseus Mining has scheduled an investor webinar and conference call to discuss its half-year FY26 results, which are expected to be released on the morning of Friday 20 February 2026 (AEDT). The event will be accessible to investors across Austra...
Perseus Mining Updates Market on Progress of On-Market Share Buy-Back
Feb 3, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its on-market share buy-back program for its ordinary fully paid shares (PRU), confirming it repurchased 357,883 shares on the previous trading day, bringing total sh...
Perseus Mining Reaffirms Ore Reserve Assumptions and Flags Risks to Outlook
Jan 28, 2026
Perseus Mining has reaffirmed that its current production targets remain fully supported by previously published JORC-compliant ore reserves and mineral resource estimates, and that the key technical assumptions underlying these estimates for its ...
Perseus Mining Delivers Strong Cash Generation and Project Progress Despite Higher Costs
Jan 28, 2026
Perseus Mining reported solid operational performance for the December 2025 quarter, producing 88,888 ounces of gold at an all-in site cost of US$1,800 per ounce and achieving an average realised gold price of US$3,437 per ounce, which delivered a...
Perseus Mining Confirms Second Fatality After Vehicle Accident Near Bagoé Mine
Jan 19, 2026
Perseus Mining has reported that a second employee of contractor Binkadi has died following last week’s offsite vehicle accident near the company’s Bagoé Gold Mine in Côte d’Ivoire, while other passengers sustained mino...
Perseus Mining Reports Fatal Accident Near Bagoé Gold Mine in Côte d’Ivoire
Jan 16, 2026
Perseus Mining has reported the death of contractor employee Moussa Doumbia, who was fatally injured in an offsite vehicle accident near the company’s Bagoé Gold Mine, part of the Sissingué complex in Côte d’Ivoire, on 1...
Perseus Mining Director Reduces Indirect Shareholding by 100,000 Shares
Jan 15, 2026
Perseus Mining has disclosed a change in the interests of non-executive director John Francis Gerald McGloin, who sold 100,000 ordinary fully paid shares in the company on 13 January 2026 via an on-market trade at $5.942049 per share. Following th...
Perseus Mining Sets Investor Call to Review December Quarter Results
Jan 6, 2026
Perseus Mining Limited will host an investor webinar and conference call on 29 January 2026 (AEDT) to discuss its December 2025 quarterly results, providing shareholders and analysts with a scheduled forum to review the company’s recent oper...
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.