Market Likely Underestimates Evolution Mining's Costs in FY 2027

Dow Jones
07/16

2341 GMT - While the market waits on copper-and-gold producer Evolution Mining's FY 2027 guidance, UBS expects cost estimates to rise. Analyst Levi Spry says consensus forecasts are for all-in sustaining costs of A$1,710/oz. That's well below UBS's A$1,930/oz estimate. UBS's FY 2027 gold-production forecast of 704,000 oz is broadly in line with market expectations of 701,000 oz. However, UBS anticipates output of some 57,000 tons of copper compared to consensus hopes of 70,000 tons. "Beyond a 10% throughput reduction at Ernest Henry as development ramps up post the FY26 weather events, Cowal is transitioning to stockpile processing, with limited growth elsewhere to offset the impact in FY27," UBS says. It has a neutral call on Evolution, which ended Wednesday at A$11.34. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

July 15, 2026 19:41 ET (23:41 GMT)

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