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Perseus Mining
(Sydney:PRU)
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Rating:67Neutral
Price Target:
AU$6.00
▲(26.05% Upside)
Action:Reiterated
Date: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
Balance sheet strength
Perseus reports low leverage and a high equity ratio, providing durable financial flexibility. This capital structure supports funding of multi-year projects, cushions commodity cycles, underpins dividend and buyback capacity, and reduces refinancing risk across the business cycle.
Negative Factors
Rising unit costs (AISC)
The upward revision to all‑in site costs reflects higher royalties and open‑pit transitions, structurally increasing per‑ounce breakevens. Persistently higher AISC compresses margins versus long‑term gold prices, lowering free cash flow per ounce and constraining capital allocation flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Perseus reports low leverage and a high equity ratio, providing durable financial flexibility. This capital structure supports funding of multi-year projects, cushions commodity cycles, underpins dividend and buyback capacity, and reduces refinancing risk across the business cycle.
Read all positive factors
Perseus Mining (PRU) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.51B
Dividend Yield1.78%
Average Volume (3M)6.39M
Price to Earnings (P/E)20.7
Beta (1Y)1.12
Revenue Growth16.69%
EPS Growth3.17%
CountryAU
Employees871
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.19
Shares Outstanding1,327,131,500
10 Day Avg. Volume5,861,548
30 Day Avg. Volume6,390,236
Financial Highlights & Ratios
PEG Ratio-0.87
Price to Book (P/B)2.33
Price to Sales (P/S)5.71
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$6.49Price Target Upside36.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.38
Revenue Forecast (FY)AU$1.84B
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 primarily makes money by producing gold and selling it into the gold market. Its main revenue stream is gold sales generated from mining operations: ore is extracted (from open-pit and/or underground sources depending on the operation), pr...
Perseus Mining Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 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
Profit after tax declined
Profit after tax was USD 186 million, down 8% versus the comparative period, reflecting higher costs and lower volumes.
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 | 951.28M | 817.72M | 457.16M | 1.44B | 1.13B | 679.73M |
| Gross Profit | 465.86M | 485.04M | 278.65M | 821.31M | 348.81M | 198.13M |
| EBITDA | 496.04M | 476.28M | 274.53M | 796.51M | 504.39M | 283.46M |
| Net Income | 262.40M | 242.98M | 329.96M | 427.40M | 233.59M | 116.22M |
Balance Sheet | ||||||
| Total Assets | 2.72B | 2.48B | 1.99B | 2.42B | 1.99B | 1.41B |
| Cash, Cash Equivalents and Short-Term Investments | 683.56M | 751.83M | 536.70M | 728.92M | 426.85M | 181.54M |
| Total Debt | 4.14M | 4.17M | 3.13M | 3.90M | 86.54M | 137.40M |
| Total Liabilities | 253.19M | 270.94M | 205.73M | 270.22M | 346.53M | 350.50M |
| Stockholders Equity | 2.23B | 2.00B | 1.58B | 1.92B | 1.47B | 1.03B |
Cash Flow | ||||||
| Free Cash Flow | 121.67M | 329.54M | 347.95M | 448.17M | 383.03M | 52.53M |
| Operating Cash Flow | 335.45M | 536.66M | 431.36M | 648.32M | 522.91M | 302.02M |
| Investing Cash Flow | -315.13M | -211.13M | -328.74M | -200.16M | -165.70M | -249.21M |
| Financing Cash Flow | -154.57M | -142.17M | -45.58M | -125.79M | -113.39M | -81.35M |
Perseus Mining Technical Analysis
Positive
4.76
Price Trends
5.09
Positive
5.25
Positive
5.37
Positive
Market Momentum
0.18
Negative
62.10
Neutral
78.68
Neutral
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 4.76 is below the 20-day moving average (MA) of 5.20, below the 50-day MA of 5.09, and below the 200-day MA of 5.37, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 62.10 is Neutral, neither overbought nor oversold. The STOCH value of 78.68 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$8.80B | 20.94 | 28.87% | ― | 149.69% | 209.07% | |
79 Outperform | AU$4.00B | 6.37 | 39.02% | ― | 111.74% | 100.58% | |
75 Outperform | AU$5.73B | 11.68 | 27.80% | 3.29% | 31.42% | ― | |
74 Outperform | AU$2.48B | 15.66 | 17.01% | ― | 10.67% | ― | |
67 Neutral | AU$7.51B | 20.68 | 12.39% | 2.08% | 16.69% | 3.17% | |
66 Neutral | AU$6.93B | 14.20 | 9.94% | 2.72% | 13.34% | -15.96% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:PRU
Perseus Mining
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Perseus Mining Corporate Events
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...
Perseus Mining Strengthens Board with Appointment of Veteran Geologist Tommy McKeith
Jul 22, 2026
Perseus Mining has appointed experienced mining executive Tommy McKeith as an independent non-executive director, effective immediately, completing a key phase of its board renewal process. McKeith, a geologist with more than 30 years of leadershi...
Perseus Mining Sets Investor Call for June Quarter Results
Jul 1, 2026
Perseus Mining will host an investor webinar and conference call on 30 July 2026 (AEST) to discuss its June 2026 quarterly results, with corresponding times provided for Australia, Canada, and the United Kingdom. The company will make a recording ...
Perseus Mining Cancels Nearly 4 Million Shares in On‑Market Buy‑Back
Jun 30, 2026
Perseus Mining Limited is an Australia-listed gold producer operating in the mining sector, with its ordinary fully paid shares traded on the ASX under the ticker PRU. The company’s issued capital structure is actively managed through market...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 29, 2026
Perseus Mining Limited has reported an update on its on-market share buy-back program, confirming that it is repurchasing its ordinary fully paid shares under the ASX code PRU. The announcement notes that the company has been conducting this buy-b...
Perseus Mining Updates ASX on Ongoing On-Market Share Buy-Back
Jun 28, 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, identified under the code PRU. The update records that, as of 27 June 2026, the company had repurc...
Perseus Mining Expands On-Market Share Buy-Back Programme
Jun 25, 2026
Perseus Mining Limited has continued its on-market share buy-back program, targeting its ordinary fully paid shares listed under ASX code PRU. The latest update, dated 25 June 2026, forms part of an ongoing capital management initiative first noti...
Perseus Mining Cancels 8.8 Million Shares After On-Market Buy-Back
Jun 25, 2026
Perseus Mining Limited has cancelled 8,808,082 ordinary fully paid shares on 25 June 2026, following completion of an on-market share buy-back program. The reduction in issued capital is expected to marginally increase ownership concentration for ...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
Jun 24, 2026
Perseus Mining Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares traded under the ASX code PRU. The company reported that as of 24 June 2026 it had repurchased a cumulative total of 21,290,61...
Perseus Mining Reports Ongoing On-Market Share Buy-Back Activity
Jun 23, 2026
Perseus Mining Limited has updated the market on progress under its on-market share buy-back program, confirming that it repurchased a total of 607,186 ordinary fully paid shares on the previous trading day. Cumulatively, the company has bought ba...
Perseus Mining Updates Market on Ongoing Share Buy-Back Activity
Jun 22, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares. The company reported that it had repurchased a total of 20,175,359 shares prior to the pr...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 21, 2026
Perseus Mining Limited has reported an update to its on-market share buy-back program, confirming continued repurchases of its ordinary fully paid shares listed under code PRU. The company disclosed that a total of 19,077,751 shares had been bough...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
Jun 9, 2026
Perseus Mining Limited has provided an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 16,287,570 shares had been repurchased before the previous trading...
Perseus Mining Continues On-Market Share Buy-Back Program
Jun 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 latest daily update, dated 5 June 2026, confirms that a total of 15,939,734 share...
Perseus Mining Updates Market on Progress of On-Market Share Buy-Back
Jun 4, 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 latest daily report, dated 4 June 2026, confirms that a total of 15,602,705 sha...
Perseus Mining Continues On-Market Share Buy-Back Programme
Jun 3, 2026
Perseus Mining Limited has continued its on-market share buy-back program, repurchasing a total of 15,089,282 ordinary fully paid shares prior to the latest reporting date and a further 513,423 shares on the previous trading day. The updated notif...
Perseus Mining Updates Daily On-Market Share Buy-Back Totals
Jun 2, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its on-market share buy-back program for ordinary fully paid shares. The company reported that a total of 14,739,318 shares had been repurchased before the previous t...
Perseus Mining Updates Daily Progress of On-Market Share Buy-Back
Jun 1, 2026
Perseus Mining Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed under the ASX code PRU. The company reported that, as of the latest daily notification dated 1 June 2026, it has repurc...
Perseus Mining Extends On‑Market Share Buy‑Back Program
May 31, 2026
Perseus Mining has continued its on‑market share buy‑back program, purchasing a total of 13,611,190 ordinary fully paid shares before the latest reporting date. The company reported that it bought back an additional 697,563 shares on t...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
May 28, 2026
Perseus Mining Limited has provided an update on its ongoing on-market share buy-back program for its ordinary fully paid shares on the ASX. The company reported that, as of the latest notification, it has repurchased a cumulative total of 12,807,...
Perseus Mining Continues Daily On-Market Share Buy-Back Program
May 27, 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 latest filing, dated 27 May 2026, reports that the company has repurchased a cu...
Perseus Mining Updates Market on Continued Share Buy-Back Activity
May 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. As of 26 May 2026, the company reports that it has repurchased a cumulative 11,929,592 share...
Perseus Mining Continues On‑Market Share Buy‑Back Program
May 24, 2026
Perseus Mining Limited has reported an update to its on‑market share buy‑back program, confirming that it is repurchasing ordinary fully paid shares under the ASX code PRU as part of an ongoing capital management initiative. The compan...
Perseus Mining Cancels Shares Following On-Market Buy-Back
May 22, 2026
Perseus Mining Limited has reduced its issued capital through the cancellation of 3,937,327 ordinary fully paid shares on 22 May 2026. The reduction stems from an on-market share buy-back program, which typically signals capital management efforts...
Perseus Mining Updates Market on Ongoing On‑Market Share Buy‑Back
May 22, 2026
Perseus Mining Limited has provided an updated notification to the ASX on the progress of its on-market share buy-back program for its ordinary fully paid shares. The latest filing, dated 21 May 2026, confirms that the company repurchased a furthe...
Perseus Mining Steps Up On-Market Share Buy-Back Program
May 21, 2026
Perseus Mining Limited has continued its on-market share buy-back program, reporting that it has repurchased a total of 10,033,387 ordinary fully paid shares prior to the latest trading day. The company disclosed that a further 767,300 shares were...
Perseus Mining updates market on ongoing on-market share buy-back
May 11, 2026
Perseus Mining Limited has provided an updated notification to the Australian Securities Exchange on its ongoing on-market share buy-back program for its ordinary fully paid shares. The update records that a total of 7,973,480 shares had been repu...
Perseus Mining Updates Daily On-Market Share Buy-Back Activity
May 10, 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 filing, dated 8 May 2026, confirms the daily buy-back activity and referen...
Perseus Mining Cancels Over 2.5 Million Shares in On-Market Buy-Back
May 8, 2026
Perseus Mining Limited has cancelled 2,548,420 ordinary fully paid shares as part of an on-market share buy-back, effective 8 May 2026. The reduction in issued capital reflects the company’s active capital management strategy, which can enha...
Perseus Mining names new COO to steer African growth push
May 8, 2026
Perseus Mining has appointed experienced mining executive Wade Bickley as Chief Operating Officer, effective 1 June 2026, with the role based in the company’s Dubai office. Bickley brings over 25 years of experience across gold and base meta...
Perseus Mining Updates Daily On-Market Share Buy-Back
May 6, 2026
Perseus Mining Limited has provided an updated notification to the ASX regarding its on-market share buy-back program for ordinary fully paid shares. The company reported that a total of 7,167,828 shares had been repurchased before the previous da...
Perseus Mining Updates Daily On-Market Share Buy-Back
May 5, 2026
Perseus Mining Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 6,724,760 shares had been repurchased before the previous trading day, with an additiona...
Perseus Mining Continues On‑Market Share Buy‑Back Program
May 4, 2026
Perseus Mining Limited has continued its on-market share buy-back program, focused on its ordinary fully paid shares listed under the ticker PRU. The company reported that a total of 6,652,492 shares had been repurchased prior to the previous trad...
Perseus Mining Continues On‑Market Share Buy‑Back Program
May 3, 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 shows that the company had repurchased a cumulative 6,169...
Perseus Mining Corrects Figures in Ongoing On-Market Share Buy-Back
Apr 29, 2026
Perseus Mining Limited has updated its notification to the ASX regarding its on-market share buy-back of ordinary fully paid shares under code PRU. The company clarified that the latest announcement, dated 29 April 2026, corrects the previously st...
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.