OceanaGold PH Sees 206% Profit Surge as Higher Gold Prices Offset Lower Production

OceanaGold PH's first-half profit surged 206% in 2026, thanks to higher gold prices that more than offset lower production. The miner's net income jumped to $67.4 million, while revenue climbed 63% to $285.3 million.

Despite a 7% drop in gold output to 41,800 ounces and a 17% decline in copper production to 5,900 tonnes, the company was able to reward shareholders with another quarterly dividend. Management expects a stronger second half as underground mining ramps up, lifting production while lowering costs.

OceanaGold (Philippines) is on track to meet its 2026 targets, according to president Joan Adaci-Cattiling. The company generated $62.3 million in free cash flow during the first half and declared a second-quarter dividend of $17 million, or $0.0075 per share.