Perseus Mining Ltd PRU

MaterialsMetals & MiningAustralia

Last close 5.74 CAD on Nov 2, 2026, +17.0% year to date

Quant rating

Quant rating B Rank 59 of 154 in Materials

Growth C 95 of 154
Valuation B 37 of 154
Quality C 81 of 154
Revisions C 76 of 154
Momentum A 18 of 154

Wall Street consensus Buy (2.00)Average target 8.15 CAD +42.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 7.6B
Enterprise value: 6.5B
52-week range: 4.16 – 6.88
3-year range: 1.43 – 6.88
Dividend yield: 2.56%
Beta (5 years): 1.99
Shares outstanding: 1,326M
Next earnings: Nov 25, 2026

About the company

Perseus Mining Limited is an Australia-based gold producer, developer, and explorer. The Company also conducts mineral exploration and evaluation activities in Africa. It operates three gold mines in Africa: Edikan in Ghana and Sissingue and Yaoure in Cote d'Ivoire. Edikan Gold Mine is a large-scale, low-grade multi-open-pit operation located in the Central Region of Ghana, approximately 45 kilometers southwest of the regional town of Obuasi. The Sissingue is located in northern Cote d'Ivoire and lies within the Sissingue exploitation permit that covers an area of over 446 square kilometers, bounded on one side by the international border between Cote d’Ivoire and Mali. Yaoure is located in central Cote d'Ivoire, over 40 kilometers northwest of Yamoussoukro, the political capital, and over 270 kilometers northwest of Abidjan, the economic capital of Cote d'Ivoire. The Company is also developing the Nyanzaga Gold Project in Tanzania.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	2,106	1,698	1,403	1,271	1,051	–
Revenue growth	24.0%	21.0%	10.4%	21.0%	67.2%	27.4%
EPS (basic, normalized)	0.42	0.39	0.32	0.43	0.27	–
EPS growth	6.7%	22.6%	−26.2%	59.3%	–	–
Gross margin	50.2%	47.1%	47.1%	42.2%	31.1%	43.5%
Net margin	28.9%	29.7%	31.6%	30.0%	20.8%	28.2%
ROE	19.9%	20.7%	22.7%	25.1%	19.0%	21.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	2,106	+24.0%	3.1x	1,122	+30.1%	5.8x	0.42	+6.7%	13.8x
2027	2,513	+19.3%	2.6x	1,317	+17.4%	5.0x	0.58	+40.5%	9.8x
2028	3,486	+38.7%	1.9x	1,945	+47.6%	3.4x	0.94	+60.8%	6.1x
2029	3,698	+6.1%	1.8x	2,269	+16.7%	2.9x	1.04	+11.1%	5.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	2,513	−4.6%	−3.8%	−10.6%	0.58	−4.0%	+1.2%	−14.4%
2028	3,486	+0.1%	−1.6%	−9.4%	0.94	−2.4%	−1.7%	−13.2%
2029	3,698	−1.6%	–	–	1.04	−2.3%	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PRU Perseus Mining Ltd	7.6B	–	28.9%	2.36x	9.8x	6.1x	5.0x	3.4x
AGI Alamos Gold Inc.	16.3B	−0.39x	49.0%	2.35x	12.7x	9.7x	7.0x	5.3x
SKE Skeena Resources Limited	4.8B	–	–	27.86x	−32.4x	14.5x	−75.3x	8.0x
NG NovaGold Resources Inc	3.6B	3.51x	–	6.66x	−23.2x	−25.1x	−26.2x	−28.2x
SXGC Southern Cross Gold Consolidated Ltd	2.2B	–	–	8.40x	−273.7x	−205.3x	−426.5x	−426.5x
THM International Tower Hill Mines Ltd	682M	–	–	2.94x	–	–	–	–
Mean		1.56x	38.9%	8.43x	−61.4x	−40.0x	−103.2x	−87.6x
Median		1.56x	38.9%	4.80x	−23.2x	6.1x	−26.2x	3.4x

Technical analysis

1M−8.9%
3M+23.8%
1Y+31.7%
3Y+305.5%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Perseus Mining Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	2,106	1,698	1,403	1,271	1,051	628
Cost of revenue	1,050	899	742	734	724	444
Gross profit	1,057	799	661	537	327	184
Selling, general & administrative expenses	38.2	28.3	25.3	24.4	23.8	18.1
Research & development	–	–	–	–	–	–
Depreciation/amortization	1.0	1.4	0.9	0.7	0.7	1.1
Interest expense (income), operating	21.8	−27.1	−14.2	−11.9	−13.3	4.1
Unusual expense (income)	−30.9	24.4	−0.1	8.3	40.5	6.3
Other operating expenses	−6.7	−7.3	1.6	2.6	4.8	−0.9
Operating income	1,033	780	648	513	270	156
Net interest income (expense)	−16.9	−11.8	−8.9	−6.0	−9.0	−4.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	1,016	768	639	507	261	151
Provision for taxes	334	194	140	82.1	−0.2	21.9
Minority interest	−74.2	−69.2	−55.4	−43.9	−43.2	−21.4
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	608	505	444	381	218	107
Extraordinary items	–	–	–	–	–	–
Net income	608	505	444	381	218	107
EBIT, normalized	1,024	777	633	509	297	166
EBITDA, normalized	1,190	987	829	706	498	263
Basic EPS, normalized	0.42	0.39	0.32	0.43	0.27	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Perseus Mining Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	1,312	1,023	734	641	379	169
Receivables	139	87.2	42.3	38.3	17.4	17.3
Total inventory	251	204	152	147	142	166
Prepaid expenses	43.1	19.3	19.3	26.2	12.0	22.8
Other current assets	12.6	6.1	0	0	0	0
Total current assets	1,758	1,339	948	853	550	375
Property, plant & equipment	1,732	1,574	1,458	1,134	1,140	920
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	331	160	58.7	21.0	21.9	0.7
Note receivable	–	–	–	–	9.2	–
Other long-term assets	334	301	251	122	46.7	14.1
Total assets	4,154	3,375	2,716	2,130	1,768	1,310
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	363	247	176	133	141	112
Accrued expenses	5.7	4.7	4.1	3.8	–	2.6
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1.0	1.3	2.3	2.2	9.2	1.6
Other current liabilities	130	39.2	22.2	12.4	0	0
Total current liabilities	499	292	204	152	150	116
Long-term debt	1.9	2.5	2.1	1.2	67.4	126
Minority interest	232	285	273	195	155	25.7
Other liabilities	158	74.4	75.1	85.1	91.0	83.8
Total liabilities	892	654	555	433	464	351
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	996	1,090	1,155	1,118	1,087	790
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	2,181	1,628	1,201	774	218	173
Treasury stock	–	–	–	–	–	–
Other equity	86.3	2.9	−195	−195	0	−4.6
Total equity	3,263	2,721	2,161	1,697	1,305	958
Total liabilities & shareholders' equity	4,154	3,375	2,716	2,130	1,768	1,310

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Perseus Mining Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	26.5	21.9	15.8	8.0	0.5	0.5
Cash from operations	946	730	587	565	488	279
Investing activities
Capital expenditures	−666	−282	−166	−177	−131	−231
Other investing cash flows	330	−5.5	−276	0	−24.1	0.3
Cash from investing	−336	−287	−442	−177	−155	−230
Financing activities
Financing cash flow items	−67.6	−58.6	−23.0	−23.2	−11.1	−13.1
Cash dividends paid	−129	−76.4	−45.4	−32.9	−9.3	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−142	−58.4	0	−66.2	−85.4	−62.1
Cash from financing	−339	−193	−68.4	−122	−106	−75.2
Foreign exchange effects	−26.5	42.9	−5.0	−9.7	1.4	−7.5
Net change in cash	244	292	71.7	255	229	−33.9
Free cash flow	280	448	421	387	357	48.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.