ASX:EVN

Evolution Mining's March Quarter Results 'Mixed' With Gold Production in Line With Expectations, Jarden Says

Evolution Mining's (ASX:EVN) March quarter results were "mixed" with gold production in line with Jarden's estimate but slightly below consensus, while copper output beat the research firm's estimate but remained more than 20% below consensus, said Jarden in a Wednesday note.The company on Wednesday reported group production of 170,137 ounces of gold for the March quarter, down from 179,778 ounces of gold for the March 2025 quarter.Jarden expects the company to report 3.26 billion operating earnings before interest, taxes, depreciation, and amortization (EBITDA) in fiscal 2026 with operating revenue of AU$5.63 billion.The research firm added that Capricorn Metals (ASX:CMM) remains its sector preference on relative and absolute value, the "strongest" growth profile, and "sector-leading" management.Jarden maintained its underweight rating on Evolution Mining and increased its price target to AU$8.60 from AU$8.50.The company's shares fell almost 5% in recent Thursday trade, while Capricorn Metals' shares shed about 3%.

Argonaut Securities Upgrades Evolution Mining to Buy from Hold; Price Target is AU$15.50

Evolution Mining Posts Lower March Quarter Gold Production; Shares Up 8%

Evolution Mining (ASX:EVN) reported group production of 170,137 ounces of gold for the March quarter, according to a Wednesday Australian bourse filing.Group production was 179,778 ounces of gold in the three months ended March 31, 2025, an earlier filing showed.The group produced 158,370 ounces of silver and 10,768 tonnes of copper, compared with 205,667 ounces of silver and 19,450 tonnes of copper a year earlier.Meanwhile, the company sold 163,691 ounces of gold and 141,400 ounces of silver during the quarter at achieved prices of AU$6,794 and AU$137 per ounce, respectively, down from 185,614 ounces of gold and 200,463 ounces of silver a year earlier.Copper sales were 7,971 tonnes at an achieved price of AU$18,810 per tonne, compared with 18,520 tonnes a year earlier.The company said it is on track to deliver fiscal 2026 gold production below its original cost guidance, with the March quarter all-in sustaining cost at AU$2,220 per ounce.The company's shares rose around 8% in recent Wednesday trade.

ASX Preview: Australian Shares to Rise on US-Iran Talk Hopes; Virgin Australia Says Fiscal 2026 Guidance Unchanged, Fiscal H2 EBIT Expected to Rise

Australian shares are poised to rise on Wednesday as easing oil prices and renewed hopes of US-Iran talks offset concerns over Middle East tensions, even as risks persist following reports of a blockade of Iranian ports and ongoing disruption in the Strait of Hormuz.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.2%, 2%, and 0.7%, respectively.In the macroeconomy, investors are eyeing the release of Australia's labor force report on Thursday.In corporate news, Virgin Australia Holdings (ASX:VGN) said that its fiscal 2026 financial guidance remains unchanged, with the underlying earnings before interest and taxes (EBIT) and underlying EBIT margin in the second half expected to be higher than the prior-year period.Evolution Mining (ASX:EVN) reported group production of 170,137 ounces of gold for the quarter ended March, compared with 179,778 ounces a year earlier.Australia's benchmark index rose 0.5% or 44.8 points to close at 8,970.80 on Tuesday.

Evolution Mining Confirms Mineralization Extension at Western Australia Prospects

Evolution Mining (ASX:EVN) confirmed extensions of high-grade mineralization at the Genesis and Arctic prospects within the Mungari gold operation in Western Australia, according to a Wednesday filing with the Australian bourse.Intercepts identified extended mineralized corridors near existing infrastructure, indicating potential for underground mine life extensions at current production rates, the filing said.Meanwhile, high-grade results were identified from the Oban underground target, along with "encouraging" findings beyond the pit outline at E41 at Cowal in New South Wales, per the filing.