Ecora Royalties PLC (DE:HGR)
FRANKFURT:HGR
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Earnings Data
Report Date
Sep 09, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.02Last Year’s EPS
0.01Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a positive strategic inflection: Ecora has materially shifted its revenue mix toward critical minerals (base metals up 150% YoY), acquired producing copper exposure (Mimbula), demonstrated strong operational performance at key royalties (Voisey's Bay, Mantos Blancos), and achieved rapid deleveraging despite a major acquisition. Short‑term challenges include a ~10% dip in reported portfolio contribution, lower adjusted earnings from higher finance costs and FX impacts, Kestrel’s declining contribution (coking coal prices down ~35%), and accounting/timing effects that understate some asset performance in FY2025. Management provided a clear deleveraging roadmap and reaffirmed dividend policy tied to free cash flow, while flagging commodity volatility and geopolitical supply risks as watch items. Overall, the positives around portfolio quality, multi‑decade asset lives, and financial flexibility outweigh the near‑term reporting and commodity headwinds.Company Guidance
Critical Minerals Become Majority of Portfolio
For the first time critical minerals generated more than 50% of overall portfolio contribution, driven primarily by base metals which grew 150% year‑on‑year.
Mimbula Copper Stream Acquisition and Copper Positioning
Acquired a producing copper stream (Mimbula) for approximately $50 million, which materially increased attributable copper production (management says they roughly doubled attributable annual copper with the acquisition). Mimbula reported $4 million in revenue in the period (only two quarters recognized due to accounting timing) and is expected to ramp further in 2026.
Rapid Deleveraging Despite Acquisition
Net debt peaked at USD 124.6 million in Q2 2025 but finished the year at USD 85.5 million, roughly similar to the start of the year despite the $50 million Mimbula acquisition. Portfolio cash flow contribution of $55 million and disposition/contingent payment acceleration realized $28 million and materially supported deleveraging.
Voisey's Bay Strong Operational Performance
Voisey's Bay contribution almost tripled year‑on‑year, reflecting a 113% increase in volumes and benefiting from cobalt price appreciation (from about $13/lb a year ago to ~ $30/lb currently, roughly a ~130% increase). Management expects 12%–25% volume growth in 2026 and life‑of‑mine extension potential to 2044.
Mantos Blancos Record Production and High Cash Yield
Mantos Blancos generated $9.5 million for the year based on record production; management cites this as approximately a 20% running cash yield (acquired for about $50 million in 2019). A Phase 2 expansion feasibility study is expected later this year with upside to production potential (from ~60,000 t to as much as ~100,000 t referenced).
Improving Free Cash Flow Conversion and Longer‑Life Royalties
As Kestrel's proportion declines (it carries a high effective tax rate), the portfolio's free cash flow conversion increases. Many newly prominent base metals assets have multi‑decade reserve lives versus Kestrel's remaining life of a few years, improving quality of earnings.
Other Asset Highlights and Diversification
Four Mile (uranium) and EVBC (gold) both have upside in 2026: Four Mile reported $2.2 million (three quarters reported) with normalized sales expected to return, and EVBC generated $3.2 million with operator signaling potential reserve extensions of ~5 years. Phalaborwa rare earth royalty benefited from strong REE prices and derisking milestones across specialty metals/uranium projects were noted.
Clear Path to Further Deleveraging and Financial Flexibility
Management provided a guidance‑based path to reduce net debt to ~$53 million by end‑2026 and ~$27 million by end‑2027 (based on consensus price forecasts). The group has a $180 million facility with a $40 million accordion, providing financing headroom for further acquisitions.
DE:HGR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:HGR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 26, 2026 | €1.50 | €1.50 | +0.27% |
Sep 03, 2025 | €0.83 | €0.85 | +3.02% |
Mar 27, 2025 | €0.77 | €0.78 | +1.17% |
Sep 04, 2024 | €0.69 | €0.64 | -7.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ecora Royalties PLC (DE:HGR) report earnings?
Ecora Royalties PLC (DE:HGR) is schdueled to report earning on Sep 09, 2026, TBA (Confirmed).
What is Ecora Royalties PLC (DE:HGR) earnings time?
Ecora Royalties PLC (DE:HGR) earnings time is at Sep 09, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Ecora Royalties PLC stock?
The P/E ratio of Ecora Royalties PLC is N/A.
What is DE:HGR EPS forecast?
DE:HGR EPS forecast for the fiscal quarter 2026 (Q2) is 0.02.