en.Wedoany.com Reported - Mineros S.A. (TSX: MSA, OTCQX: MNSAF) achieved year-over-year growth in gold equivalent ounce sales in the first half of the year through operational improvements in Nicaragua and Colombia, prompting an upward revision of its full-year 2026 production guidance.
Against a backdrop of multi-year high gold prices, the gold producer reported second-quarter sales results that exceeded internal expectations. In the first half of 2026, gold equivalent ounce sales reached 122,634 ounces, a 12% increase year-over-year, reflecting steady progress in core assets. Specifically, the company sold 59,639 ounces of gold in the second quarter, up 11% from 53,906 ounces in the same period of 2025; silver sales hit a record 150,680 ounces, more than doubling from 70,732 ounces a year earlier. The company attributed these gains to metallurgical optimization at the Hemco processing plant and increased throughput at both sites.
At the Hemco project in Nicaragua, gold sales rose 12% year-over-year to 37,157 ounces, while silver sales doubled to 148,565 ounces. The processing plant is on track to reach its target of 2,500 tonnes per day by year-end, supporting further growth in future quarters. At the Nechi alluvial gold project in Colombia, gold sales reached 22,482 ounces, an 8% increase from the prior year, with management attributing the improvement to ongoing operational enhancements and higher recovery rates.
Based on first-half sales performance, Mineros raised the upper end of its 2026 consolidated production guidance to 240,000 gold equivalent ounces. The company has allocated $69 million for 2026 growth and exploration, with upcoming key catalysts including updated resource estimates for Panama and Pioneer, permitting progress at Porvenir, drilling results at La Pepa, and initial exploration work at the newly acquired La Colosa project.
In terms of community relations, the company has directly invested $54.99 million since 2018 through its "Works for Taxes" program, benefiting over 700,000 people across 52 municipalities in Colombia.
On the analyst front, Atrium Research analyst Ben Pirie raised his target price to C$12.50 per share and maintained a Buy rating. Red Cloud analyst Alina Islam noted that while first-quarter results missed consensus due to derivative accounting, rising gold prices supported strong underlying operations, with solid core performance at Hemco and Nechi and the expansion timeline remaining unchanged.
From an industry perspective, market participants currently expect gold to undergo a period of consolidation rather than a massive sell-off, providing a more stable foundation for gold stocks.
