OceanaGold Corporation reports very strong first‑quarter 2026 results, driven by higher metal prices and solid production. Revenue reached $714.5 million, roughly double the prior year quarter, and net profit rose to $235.4 million, with EBITDA of $416.7 million and a 58% adjusted EBITDA margin.
The company produced 130,100 ounces of gold and 3,200 tonnes of copper, while consolidated AISC climbed to $2,094/oz as Haile’s planned mine sequence and inflation pushed costs higher. Despite this, operating cash flow of $381.5 million and free cash flow of $255.2 million lifted cash to $620.1 million, leaving OceanaGold in a net cash position with its credit facility undrawn.
Management kept 2026 production and cost guidance unchanged, expects stronger output in the second half, and continues to advance growth projects at Haile, Macraes, Waihi (including the Waihi North Project) and Didipio. The board also expanded its share repurchase authorization, buying back 2.1 million shares for $76.7 million in the quarter while paying dividends to both OceanaGold and Didipio minority shareholders.
OceanaGold Corporation is calling a virtual Annual General and Special Meeting where shareholders will vote on director elections, auditor re-appointment, executive pay, and moving to virtual-only AGMs from 2027.
The circular highlights a record 2025, with 497,600 ounces of gold and 13,300 tonnes of copper produced, above mid-point guidance, and multiple financial records across EBITDA, margins, net profit, earnings per share, operating cash flow and free cash flow. Strong performance and higher realized gold prices helped drive a 228% increase in total shareholder return in 2025.
Given this backdrop, the Board approved a tripling of the dividend and a doubling of the share buyback program in 2026, allowing up to $432 million of capital returns. The company also details a pay-for-performance executive compensation framework heavily weighted to variable incentives, robust share ownership requirements, and an expanded performance share rights plan, while emphasizing board independence, majority voting, term limits, and a climate and ESG-focused governance structure.
OceanaGold Corporation re-filed its audited consolidated financial statements, now including the auditors’ reports, and reported significantly stronger 2025 results. Revenue rose to $1,893.2 million from $1,294.0 million in 2024 and net profit increased to $645.7 million from $192.0 million. Basic earnings per share were $2.72 versus $0.79, helped by a $176.2 million impairment reversal at the Haile Gold Mine cash-generating unit. Operating cash flow grew to $984.2 million, lifting cash and cash equivalents to $476.5 million. The company spent $175.1 million on share buybacks, paid $27.7 million in dividends to equity holders, and completed a three-to-one share consolidation. Asset retirement obligations increased to $188.4 million as closure estimates were updated.
OceanaGold Corporation has filed a Form 6-K highlighting the release of its 2025 Sustainability Report for the year ended December 31, 2025. The report covers performance in safety, health, people and culture, community and social performance, environment, tailings management and climate.
The company notes meaningful progress on sustainability while continuing to deliver gold production, including improved safety performance, strong community and economic contributions, and progress on decarbonization. OceanaGold also issued its first mandatory IFRS S2 climate-related disclosure and appointed David Bickerton as Executive Vice President and Chief Sustainability Officer effective April 1, 2026.