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Jaguar Mining Reports Third Quarter 2026 Results with 67% Growth in Adjusted Net Income and 46% Higher Adjusted EBITDA

JAGGF
  • Jaguar Mining Inc. reported third-quarter 2026 gold production of 12,981 ounces, a 30% increase year-over-year, with year-to-date production totaling 35,668 ounces, up 15%.
  • Revenue rose 79% to $60.8 million in Q3 2026, driven by a 46% increase in gold sales to 14,259 ounces & a 23% rise in realized gold prices to $4,262 per ounce.
  • Adjusted EBITDA increased 46% to $23.8 million, while Adjusted Net Income grew 67% to $13.0 million ($0.15 per share) compared to the prior year quarter.
  • Consolidated ore processing increased 69% to 159,399 tonnes, with the MTL Complex (Turmalina Mine) contributing 4,432 ounces & the Pilar Mine producing 8,549 ounces.
  • Cash operating costs per ounce sold rose to $2,120, & All-in sustaining costs per ounce reached $3,164, reflecting higher sustaining capital expenditures of $10.2 million & fixed costs not yet fully absorbed.
  • Free cash flow for the quarter was negative $14.6 million, impacted by a $20.8 million operating asset outflow (mainly a gold sale receivable) & $9.1 million in payments related to the Satinoco incident.
  • Exploration drilling totaled 13,486 metres in Q3, with significant high-grade intersections at the Faina orebody & a new program commencing at the A/SE2 lens.
  • Proven & probable mineral reserves increased 12% to 858,000 ounces, while Measured & Indicated resources rose 8% to 1,797,000 ounces as of December 31, 2025.
  • The Company maintains its 2026 full-year gold production guidance of 50,000 to 60,000 ounces, though it expects to achieve the lower end of the range.
  • The Onças de Pitangui project received a denial of its Preliminary & Installation Licence on October 30, 2026, due to insufficient technical data, requiring a resubmission of the application.
  • Cash & cash equivalents stood at $47.8 million at September 30, 2026, supporting ongoing exploration, dewatering at Santa Isabel Mine, & the Onças de Pitangui permitting process.
  • The MTL Complex ramp-up continues with the Faina orebody accounting for 67% of processed ore, while studies are underway to improve metallurgical recovery through potential flotation circuit installation.
  • Feasibility studies are planned for the Paciência Complex (incorporating Santa Isabel & Marzagão) & the Onças de Pitangui project, with the Paciência study expected by mid-2027.
Company
Jaguar Mining, Inc.
Keywords
Metals & Mining, Earnings