PERSEUS MINING LIMITED (PRU)
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14/09/2026

1

Buy

$7.90

23.44%

In the wake of FY26 results by Perseus Mining, Citi raises its target by $1.10 to $7.90 and retains its Buy/High Risk rating.

First take: Citi analysts comment today's FY26 release by Perseus Mining has positives and negatives.

They expect the stronger outlook of shareholder returns and increased mine life to be taken positively, offset by the higher than expected capex.

The FY26 performance is categorised as in line. The 14c in dividend is well above both consensus and Citi's own estimate.

The miner has upscaled its share buyback program to $350m for FY27 ($127m was executed in FY26) and has proposed a special distribution of $100m ($7.5cps) from the proceeds of the sale of its Meyas Sand asset which will be finalised in coming months.

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30/08/2026

1

Buy

$7.55

17.97%

Canaccord Genuity retains a Buy rating for Perseus Mining with its target price increased to $7.55 from $7.30.

The company's FY26 EBITDA of US$861m exceeded expectations, supported by capitalised operating expenses, while net profit reached US$480m, reflecting lower depreciation and amortisation partially offset by higher tax expenses.

The analyst views the substantial capital return initiatives, including a 9c final dividend, an expanded $350m share buyback, and a special $100m cash distribution, as evidence of a strong balance sheet and positive outlook rather than a lack of growth opportunities.

Commentary notes management intends to double exploration spending in FY27 to between US$70m and US$80m. The target price increase is primarily driven by revisions to capitalised cost assumptions for the Nyanzaga project.