Citi says Perseus Mining can meet its gold production guidance
Citi says Perseus Mining can reach the midpoint of its FY27 gold output guidance, despite a 7% shortfall in the first quarter. Shares fell 4.3%.
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what happened
Citi estimates that Perseus Mining's three operating mines need to average about 101,000 oz of gold per quarter for the rest of fiscal 2027 to hit the midpoint of guidance. The broker considers that level achievable.
According to Citi, maintenance is now complete, mill run-times are recovering, and grades are higher at the Yaouré open pit and at Edikan (Nkosuo). The CMA Underground mine is also ramping up. The Nyanzaga project, which is due to pour first gold in January, should add roughly 55,000 oz.
First-quarter output came in at 92,551 oz, 7% below consensus. Even so, the low end of guidance requires only about 91,000 oz per quarter. Citi rates the stock buy-high risk with a target price of A$7.90. Perseus shares were down 4.3% at A$5.35.
why it matters
For investors in gold producers, output volumes matter, but so does how confidently a company backs its guidance. If results land near the bottom of the range, that would ease some concerns after a soft start to the year. The story concerns a single company, so its effect on the wider gold market is limited.
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sources
- Perseus Mining Bull Thinks Production Guidance Achievable — Market Talk, 27 October 2026 at 01:06 UTC
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