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Mineros SA (TSE:MSA)
TSX:MSA
Earnings Data
Report Date
May 11, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.34Last Year’s EPS
0.18Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong operational and financial outperformance for 2025 with record revenue ($800M), adjusted EBITDA ($358M), net profit ($145M) and free cash flow ($138M). Management highlighted major operational milestones (Aurora plant start, Hemco expansion plans, recoveries rising to >90%), aggressive 2026 investment plans (~$114M) and clear shareholder returns. Key challenges were acknowledged: elevated AISC driven by Bonanza partner payments and currency/labor pressures, a one-time $49M tax settlement in Nicaragua (plus an ~$8M recurring ad-valorem impact), dependency on debottlenecking Hemco to restore industrial-mine volumes, and no immediate production timeline for La Pepa. Overall, positive momentum and strong balance sheet position were emphasized, alongside concrete plans to address cost and processing bottlenecks in 2026.Company Guidance
Record Annual Revenue
Revenue reached $800 million for FY2025, a 48% increase year-over-year, driven by higher production volumes and a favorable realized gold price.
Record Adjusted EBITDA
Adjusted EBITDA was $358 million for 2025, up 71% versus 2024 (equivalent to approximately $1 million in EBITDA per day).
Strong Net Profit and Gross Profit Growth
Net profit totaled $145 million for FY2025 (a 68% YoY increase) and gross profit was $326 million (up 77% YoY).
Free Cash Flow and Balance Sheet Strength
Net free cash flow was a record $138 million for the year ($32 million in Q4). Year-end cash and cash equivalents were $108 million with a strong net position (~$93 million net) and accounts receivable of $26.3 million.
Quarterly Outperformance (Q4 2025)
Q4 revenues were $261 million (+74% YoY). Q4 gross profit was $106 million (+94% YoY) and adjusted EBITDA doubled to $115 million (+101% YoY). Q4 free cash flow was $32 million.
Production and Operational Achievements
Company exceeded full year guidance, producing ~227,000 gold equivalent ounces in 2025 (management statement). Q4 production was 61,000 gold equivalent ounces. Colombia Q4 production was 23,000 oz; Nicaragua Q4 production was ~36,000 oz.
High Realized Gold Prices
Average realized gold price for FY2025 was $3,474/oz and $4,179/oz in Q4, materially boosting revenue and margins.
Shareholder Returns and Market Recognition
Returned capital of $42 million to shareholders through dividends ($30 million) and buybacks ($12 million). Company reported ~275% share price appreciation and received TSX 30 designation; top performing equity on the Colombian exchange for a second consecutive year.
Safety Performance
Lost time injury frequency rates remained low: 0.9 in Colombia and 0.16 in Nicaragua, underscoring operational safety.
Growth and Capital Investment Plan for 2026
Guidance for 2026: consolidated production 213,000–233,000 oz (roughly +10,000 oz vs 2025). CapEx and exploration planned at ~ $114 million (record), with major focus on Nicaragua (Hemco plant expansion from 1,800 to 2,500 tpd, ~40% increase) and technical studies/resource updates (Porvenir, La Pepa). Recoveries in Nicaragua improved from ~87% to above 90% in recent months.
Strategic Asset Acquisition
Acquisition and full control of La Pepa Project in the Maricunga Gold Belt (Chile) completed (one-time outflow ~$40 million), adding an advanced exploration asset with ~2 million oz resources and upside potential.
TSE:MSA 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
TSE:MSA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | C$7.30 | C$7.07 | -3.15% |
Nov 05, 2025 | C$4.66 | C$5.00 | +7.26% |
Aug 12, 2025 | C$2.65 | C$2.82 | +6.34% |
May 08, 2025 | C$2.04 | C$2.34 | +14.83% |
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 Mineros SA (TSE:MSA) report earnings?
Mineros SA (TSE:MSA) is schdueled to report earning on May 11, 2026, TBA (Confirmed).
What is Mineros SA (TSE:MSA) earnings time?
Mineros SA (TSE:MSA) earnings time is at May 11, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MSA EPS forecast?
TSE:MSA EPS forecast for the fiscal quarter 2026 (Q1) is 0.34.