Jaguar Mining Posts Strong Q2 Earnings on Higher Gold Prices and Production
Jaguar Mining Inc., which trades under the ticker JAG(OTCQX:JAGGF), has released its financial and operational results for the second quarter ended June 30, 2026. The Toronto-based gold mining company reported a significant increase in profitability due to higher realized gold prices and increased production at its Turmalina Mine.
Adjusted net income reached $17.4 million ($0.20 per share), compared to $10.3 million ($0.12 per share) in the previous quarter and $16.3 million ($0.21 per share) in Q2 2025, demonstrating strong underlying profitability. Net income for the quarter was $15.5 million ($0.18 per share), compared to a net loss of $6.6 million in Q2 2025.
The company's revenue increased 43% to $51.4 million, primarily driven by a 35% increase in the average realized gold price to $4,391 per ounce, together with a 6% increase in gold ounces sold to 11,694 ounces following the resumption of operations at the MTL Mining Complex.
Jaguar's Consolidated gold production totaled 13,057 ounces (Q1 2026 - 9,630 ounces), comprising 9,063 ounces from the Pilar Mine and 3,994 ounces from the Turmalina Mine. This represents a 19% increase compared to the 10,973 ounces produced in Q2 2025.
CEO Luis Albano Tondo commented, 'Our priority for the rest of the year is straightforward: keep executing on production and costs while advancing the drilling that will tell us how much of our land package can add to our reserve base.'