Aura Announces Credit Rating Upgrade on Global Scale to ‘BB-’ From ‘B+’ and on Brazilian National Scale to ‘brAA+’ From ‘brAA’, Both With Outlook Revised to Stable
Rhea-AI Summary
Aura Minerals (Nasdaq: AUGO) announced S&P Global Ratings upgraded its issuer credit rating to BB- from B+, and its Brazilian national scale rating to brAA+ from brAA, with outlooks revised to stable. Aura Almas debentures were also upgraded to brAA+.
S&P cited record-high gold prices, rising production and expected low adjusted gross debt/EBITDA as drivers. Management reiterated 2026 guidance of 340k–390k GEO and a longer-term target to exceed 600k GEO, and highlighted continued project development, capacity expansions, and a solid liquidity position.
Positive
- Issuer rating upgraded to BB- from B+
- Brazil national rating raised to brAA+ from brAA
- Debentures upgraded for Aura Almas to brAA+
- 2026 production guidance of 340k–390k GEO
Negative
- Outlook revised on national scale from positive to stable
- Reliance on gold prices cited as key support for ratings
News Market Reaction – AUGO
In the Mar 4 session, AUGO gained 2.35%, reflecting a moderate positive market reaction. Argus tracked a peak move of +7.2% during that session. Argus tracked a trough of -2.6% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 26 | Dividend declaration | Positive | -5.9% | Announced Q4 2025-based cash dividend above policy minimum with 6.2% yield. |
| Feb 26 | Earnings results | Positive | -5.9% | Reported record 2025 Adjusted EBITDA, strong revenue growth, and higher GEO output. |
| Feb 26 | Resource expansion | Positive | -5.9% | Relocated road at Borborema, boosting reserves by 82% to ~1.5 Moz Au. |
| Jan 12 | Production update | Positive | +7.7% | Reported record Q4 2025 GEO production and full-year output above 2024. |
| Jan 06 | Project license | Positive | +1.5% | Received Era Dorada construction license and commenced early works in Guatemala. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent history shows multiple instances where positive operational or dividend news was followed by negative price reactions, though some growth updates have aligned with gains.
Over the last few months, Aura reported record 2025 production and Adjusted EBITDA, increased Borborema reserves to ~1.5 Moz, and secured a construction license at Era Dorada. It also declared a dividend of US$0.66 per share, above its policy minimum. Despite these generally positive milestones, shares fell about 5.89% on several February 2026 announcements, while earlier January growth updates saw gains. Today’s S&P rating upgrade fits a pattern of strengthening fundamentals alongside mixed short-term price reactions.
Key Terms
debentures financial
ebitda financial
geo technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
ROAD TOWN, British Virgin Islands, March 03, 2026 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (Nasdaq: AUGO) (B3: AURA33) (“Aura” or the “Company”) announced today that its issuer credit rating was upgraded by S&P Global Ratings from ‘B+’ to ‘BB-’, with stable outlook and, on national scale, S&P upgraded Aura’s Brazilian National Scale rating from ‘brAA’ to ‘brAA+’ and revised the outlook from positive to stable. The rating on the debentures issued by Aura Almas Mineração S.A. (“Aura Almas”) were also raised from ‘brAA’ to ‘brAA+’.
The upgrade reflects expectations that record-high gold prices, combined with the Company’s consistently increasing production volumes, will contribute to maintaining robust EBITDA and cash flow, supporting Aura’s ongoing growth strategy. According to S&P, the stable outlook is based on expectations of continued production growth over the next two years, driven by project development and capacity expansions at existing operations, alongside a gradual improvement in cash costs. The agency also anticipates that adjusted gross debt to EBITDA will remain in low levels, supported by favorable gold prices and higher output, even amid increased capital investments and dividend distributions. In addition, the outlook incorporates the expectation that the Company will preserve a solid liquidity position.
Rodrigo Barbosa, President and CEO of Aura, comments, “These rating upgrades on global and national scales reflect our consistent growth strategy and strong operating platform. In recent years, we've boosted production and advanced new projects, enabling sustainable growth while maintaining dividends and a solid balance sheet. With rising gold prices and contributions from Borborema and MSG, we project 340k-390k GEO in 2026 and aim to exceed 600k GEO in the years ahead. The stable outlook boosts our confidence in balancing scale, profitability, and smart capital use, while advancing projects responsibly, generating cash flow, and delivering long-term value for shareholders and communities”
The full report is available on www.spglobal.com/ratings and Aura’s IR website.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.
Aura is a company focused on the development and operation of gold and base metal projects in the Americas. The Company's six operating assets include Minosa gold mine in Honduras; Almas, Apoena, Borborema and MSG gold mines in Brazil; and Aranzazu, a copper, gold, and silver mine in Mexico. Additionally, the Company owns Era Dorada, a gold project in Guatemala; Tolda Fria, a gold project in Colombia; and three projects in Brazil: Matupá, which is under development; São Francisco, which is in care and maintenance; and the Carajás copper project in the Carajás region, in the exploration phase.
For further information, please visit Aura’s website at www.auraminerals.com or contact:
Investor Relations ri@auraminerals.com