Aya Gold & Silver (TSE:AYA) Issues Earnings Results

Aya Gold & Silver (TSE:AYA) posted its quarterly earnings results on Thursday. The company reported C$0.31 EPS for the quarter, FiscalAI reports. Aya Gold & Silver had a return on equity of 25.26% and a net margin of 32.72%. The company had revenue of C$147.04 million for the quarter.

Here are the key takeaways from Aya Gold & Silver’s conference call:

• Aya reported a record third quarter, with revenue up 90% year over year to $103 million, net income rising 182% to $35 million, and production reaching 2.03 million ounces.
• The company raised the lower end of its 2026 Zgounder production guidance and now expects consolidated production of 6.6–6.8 million ounces. Year-to-date cash costs were below guidance.
• Management expects Zgounder’s stripping ratio to rise in 2027, which could push costs higher; it expects cash costs to be in the $17–$20 range. Executives said production should remain consistent with the mine plan, without a 2027 step-down.
• Aya highlighted Boumadine’s updated PEA, which estimates a $3.5 billion after-tax NPV, a 93% IRR, and initial capital costs below $500 million. These are preliminary study estimates, and the company is continuing infill drilling and feasibility work.
• Aya ended the quarter with $184 million in cash and said operating cash flow supports developing Boumadine. About 383,000 ounces of finished silver—roughly $30 million in earnings, according to management—was shipped after quarter-end, delaying its revenue recognition to Q4.

Aya Gold & Silver Trading Down 3.5%

Aya Gold & Silver stock traded down C$1.23 during midday trading on Thursday, hitting C$33.66. 327,037 shares of the stock were exchanged, compared to its average volume of 1,352,782. The company has a current ratio of 2.02, a quick ratio of 3.28 and a debt-to-equity ratio of 17.63. The stock’s 50-day simple moving average is C$37.45 and its 200 day simple moving average is C$29.38. Aya Gold & Silver has a fifty-two week low of C$13.12 and a fifty-two week high of C$43.12. The stock has a market capitalization of C$4.85 billion, a price-to-earnings ratio of 43.70 and a beta of 3.28.

Analyst Ratings Changes

AYA has been the topic of a number of research reports. Canadian Imperial Bank of Commerce raised their target price on shares of Aya Gold & Silver from C$41.50 to C$48.00 and gave the stock an “outperformer” rating in a research note on Thursday, September 10th. National Bank Financial upped their price target on Aya Gold & Silver from C$41.00 to C$43.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Raymond James Financial increased their price target on Aya Gold & Silver from C$32.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Desjardins lifted their price objective on Aya Gold & Silver from C$38.00 to C$55.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, BMO Capital Markets boosted their price objective on Aya Gold & Silver from C$41.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$48.83.

Aya Gold & Silver Company Profile

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Company has established an exploration track record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas fault – one of Africa’s most geologically rich, underexplored and mining-friendly regions. Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its new processing facility.