Canada's Artemis Gold Q1 revenue rises on higher output

Overview

• Canada gold miner's Q1 revenue rose yr/yr

• Adjusted EPS for Q1 was C$0.54; no analyst estimates provided for comparison

• Company to start quarterly dividend of C$0.05/share in H2 2026; closed C$450 mln notes offering

Outlook

• Company maintains 2026 gold production guidance of 265,000-290,000 ounces

• Artemis expects 2026 AISC to trend toward higher end of US$925-US$1,025/oz guidance

• Company plans to deliver 43,812 gold ounces into mandatory hedges at C$2,832/oz in 2026

Result Drivers

• HIGHER GOLD RECOVERIES - Co said record mill recoveries and strong grades from the open pit supported Q1 results, helping offset the impact of a 7-day unplanned shutdown

• INCREASED COSTS - AISC rose due to lower gold production from the shutdown and higher sustaining capital and lease expenditures

• STRONG GOLD PRICES - Margins remained strong, supported by high realized gold prices and the company’s low-cost operating profile

Company press release: ID:nCNWjT7MVa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Artemis Gold Inc is C$55.00, about 56.2% above its May 6 closing price of C$35.22

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

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