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Record first-quarter results: Aya Gold & Silver reported revenue of CAD 117 million and net income of CAD 49 million, sharply higher than a year ago, while operating cash flow rose to CAD 70 million. Management called the quarter “exceptional” despite weather disruptions at the Moroccan Zgounder mine.
Production held up, and the balance sheet strengthened: The company produced 1.49 million ounces of silver in Q1, with cash costs of CAD 18 per ounce, below full-year guidance. Aya ended the quarter with CAD 172 million in unrestricted cash and said debt is now below CAD 100 million.
Guidance and growth plans remain intact: Aya maintained its 2026 production guidance of 6.2 million to 6.8 million silver-equivalent ounces and is advancing Boumadine studies while targeting a feasibility study for 2027. The company also plans a large 2026 exploration program, including drilling at both Boumadine and Zgounder.
Aya Gold & Silver (TSE:AYA) reported what management described as a record first quarter of 2026, with higher revenue, cash flow and earnings despite weather-related disruptions at its Moroccan operations.
President and CEO Benoit La Salle said the quarter was “exceptional” for the company, noting that the first quarter is typically its most difficult operating period because the Zgounder mine is located at about 2,200 meters above sea level and is exposed to winter conditions. La Salle said Aya lost about five days of operations due to weather, but still delivered production of nearly 1.5 million ounces of silver.
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“Aya delivered record revenue, record cash flow, expanding margin, rising silver price, and lower cash costs,” La Salle said.
Record Financial Results and Strong Balance Sheet
The company reported first-quarter revenue of CAD 117 million, compared with CAD 34 million in the prior-year period. Net income after tax rose to CAD 49 million from CAD 7 million a year earlier, with earnings per share of CAD 0.33 on a fully diluted basis and CAD 0.34 on a basic basis, according to management.
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Operating cash flow totaled CAD 70 million, up from CAD 8 million in the first quarter of 2025. Aya ended the quarter with CAD 172 million in unrestricted cash, in addition to CAD 16 million of restricted cash tied to its European Bank for Reconstruction and Development loan. La Salle said the company’s only debt is the EBRD facility, which is now below CAD 100 million.
Source: finance.yahoo.com
