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Versamet Says Its Second-Quarter Profit and Revenue Rise

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Versamet Royalties (VMET.TO) said Thursday after trade its second-quarter net income jumped to $4.9 million, from $0.2 million, in the prior year period.

Versamet did not provide per share amounts.

The precious metal royalty streaming company said quarterly revenue increased 392% to $23.7 million year over year. Analysts had expected $24.3 million, according to FactSet.

The company reported a record 5,255 attributable gold equivalent ounces (GEOs) during the quarter, compared with 1,475 ounces in the previous corresponding quarter.

"Versamet delivered another quarterly GEO record in the second quarter, bringing year-to-date GEOs to more than 10,000 and keeping us well on track to achieve our 2026 production guidance of 20,000 to 23,000 GEOs," said Chief Executive Dan O'Flaherty.

"Our portfolio generated over $47 million in revenue in the first half of the year, which positions us well to pursue accretive acquisitions while maintaining our disciplined approach to deploying capital," he added.

Versamet shares closed up C$0.25, or 1.8%, to C$14.15 on the Toronto Stock Exchange.

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