OceanaGold Reports Strong Q1 Results with Record Free Cash Flow
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Should l Buy OGC?
Source: PRnewswire
- Strong Cash Flow Performance: OceanaGold achieved a record $255 million in free cash flow for Q1 2026, representing a 270% increase year-over-year, indicating successful capital allocation and operational efficiency, which enhances the company's financial stability.
- Gold Production and Sales Growth: The total gold production for the quarter reached 130,100 ounces, showing a slight decrease from the previous quarter, yet sales remained robust at 135,400 ounces, reflecting the company's ability to maintain strong sales performance amid high market demand.
- Shareholder Return Initiatives: The company declared a dividend of $0.09 per share and completed $77 million in share buybacks during the first quarter, demonstrating its commitment to enhancing shareholder value while planning further capital repurchase initiatives in the future.
- Management Changes: OceanaGold announced the appointment of Elizabeth Thampy as the new EVP General Counsel, succeeding Liang Tang, who served for 17 years, with Thampy's extensive experience expected to bolster the company's legal compliance and risk management efforts.
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About OGC
OceanaGold Corporation is a Canada-based intermediate gold and copper producer. The Company is engaged in the exploration, development and operation of gold and gold/copper mines. It operates four operating mines: the wholly owned Haile Gold Mine in the United States of America; the wholly owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines. Haile Gold Mine is located in Kershaw, South Carolina. Didipio mine is located on Luzon Island in the Philippines and produces both gold and copper. Its Waihi operation is located in the Waihi township on the North Island of New Zealand. Macraes Operation is its wholly owned open pit and underground operation located in the South Island, New Zealand. The gold, copper, and silver the Company produces are essential to the renewable energy and transport sectors, life-saving medical devices and technology which connects communities around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
OceanaGold Reports Strong Q1 Performance with $255M Free Cash Flow
- Gold and Copper Production: OceanaGold safely produced 130,100 ounces of gold and 3,200 tonnes of copper in Q1 2026, aligning with its annual plan, ensuring stability and sustainability in resource production.
- Strong Financial Performance: The company achieved record quarterly revenue of $715 million with an average gold price of $4,894 per ounce, resulting in an EBITDA margin of 58% and a net profit of $228 million, reflecting robust profitability and cash flow generation capabilities.
- Shareholder Return Initiatives: Under its $350 million share buyback program for 2026, OceanaGold completed $77 million in share repurchases in Q1, enhancing shareholder value while increasing its cash balance by 30% to $620 million, indicating strong financial health.
- Technical Report Updates: The company released updated NI 43-101 technical reports for Haile, Macraes, and Didipio, demonstrating stable production profiles and extended mine lives, highlighting its proactive approach in resource development and management.
See More
OceanaGold Reports Strong Q1 Results with Record Free Cash Flow
- Strong Cash Flow Performance: OceanaGold achieved a record $255 million in free cash flow for Q1 2026, representing a 270% increase year-over-year, indicating successful capital allocation and operational efficiency, which enhances the company's financial stability.
- Gold Production and Sales Growth: The total gold production for the quarter reached 130,100 ounces, showing a slight decrease from the previous quarter, yet sales remained robust at 135,400 ounces, reflecting the company's ability to maintain strong sales performance amid high market demand.
- Shareholder Return Initiatives: The company declared a dividend of $0.09 per share and completed $77 million in share buybacks during the first quarter, demonstrating its commitment to enhancing shareholder value while planning further capital repurchase initiatives in the future.
- Management Changes: OceanaGold announced the appointment of Elizabeth Thampy as the new EVP General Counsel, succeeding Liang Tang, who served for 17 years, with Thampy's extensive experience expected to bolster the company's legal compliance and risk management efforts.
See More
OceanaGold Reports Strong Q1 Results with Record Free Cash Flow
- Strong Cash Flow Performance: OceanaGold achieved a record $255 million in free cash flow for Q1 2026, representing a 270% increase year-over-year, indicating significant improvements in capital allocation and execution on growth priorities, thereby enhancing shareholder value creation.
- Steady Gold Production: The total gold production for the quarter reached 130,100 ounces, showing a slight decline from the previous quarter but still exceeding last year's 117,400 ounces, demonstrating the company's success in maintaining production stability and reinforcing its market position.
- Dividend and Buyback Initiatives: The company declared a $0.09 per share dividend and completed $77 million in share repurchases during Q1, reflecting a strong commitment to returning capital to shareholders while showcasing its robust cash flow and financial health.
- Management Changes: OceanaGold announced a leadership transition with the appointment of Elizabeth Thampy as the new EVP General Counsel, whose extensive experience in gold mining is expected to enhance the company's governance and compliance capabilities, supporting future strategic development.
See More
OceanaGold Reports Record Q1 Performance with Strong Cash Flow
- Gold and Copper Production: OceanaGold safely produced 130,100 ounces of gold and 3,200 tonnes of copper in Q1 2026, fully aligning with its annual plan, ensuring stable supply capabilities in the metals market.
- Outstanding Financial Performance: The company achieved record quarterly revenue of $715 million, with an average gold price of $4,894 per ounce and an EBITDA margin of 58%, demonstrating strong profitability and market competitiveness.
- Cash Flow and Shareholder Returns: The operating cash flow reached $382 million in Q1, with free cash flow of $255 million and a 30% increase in cash balance to $620 million, while returning $77 million to shareholders through a buyback program, enhancing investor confidence.
- Technical Report Updates: The company released updated NI 43-101 technical reports for Haile, Macraes, and Didipio, showcasing stable production profiles and extended mine lives, further solidifying its leading position in the industry.
See More
OceanaGold Releases 2025 Sustainability Report Highlighting Progress
- Sustainability Progress: OceanaGold achieved significant advancements in its sustainability priorities in 2025, particularly in safety, health, and community contributions, reflecting the company's commitment to creating value for stakeholders.
- Executive Appointment: The company appointed David Bickerton as Chief Sustainability Officer effective April 1, 2026, leveraging his extensive experience at OceanaGold to drive the implementation of sustainability strategies.
- Renewable Energy Procurement: OceanaGold sources 100% renewable energy through the purchase of Renewable Energy Certificates, marking a proactive effort in environmental management and climate change response.
- Climate-Related Disclosure: The company released its first annual mandatory IFRS S2 climate-related disclosure, detailing annual progress in climate governance, strategy, risk management, and metrics, thereby enhancing transparency and accountability.
See More
OceanaGold Releases 2025 Sustainability Report
- Sustainability Progress: OceanaGold made significant strides in 2025 across sustainability priorities, particularly in safety, health, and environmental management, reflecting the company's commitment to creating value for stakeholders.
- Executive Appointment: The company appointed David Bickerton as Chief Sustainability Officer effective April 1, 2026, leveraging his extensive experience since joining in 2011 to drive the sustainability strategy.
- Renewable Energy Procurement: OceanaGold achieved 100% renewable energy sourcing through the purchase of Renewable Energy Certificates (RECs), marking proactive efforts in climate governance and risk management.
- Climate Disclosure: The company released its first mandatory IFRS S2 climate-related disclosure, detailing annual progress in climate governance, strategy, and risk management, thereby enhancing transparency and accountability.
See More
OceanaGold Reports Strong Q1 Performance with $255M Free Cash Flow
- Gold and Copper Production: OceanaGold safely produced 130,100 ounces of gold and 3,200 tonnes of copper in Q1 2026, aligning with its annual plan, ensuring stability and sustainability in resource production.
- Strong Financial Performance: The company achieved record quarterly revenue of $715 million with an average gold price of $4,894 per ounce, resulting in an EBITDA margin of 58% and a net profit of $228 million, reflecting robust profitability and cash flow generation capabilities.
- Shareholder Return Initiatives: Under its $350 million share buyback program for 2026, OceanaGold completed $77 million in share repurchases in Q1, enhancing shareholder value while increasing its cash balance by 30% to $620 million, indicating strong financial health.
- Technical Report Updates: The company released updated NI 43-101 technical reports for Haile, Macraes, and Didipio, demonstrating stable production profiles and extended mine lives, highlighting its proactive approach in resource development and management.
See More
OceanaGold Reports Strong Q1 Results with Record Free Cash Flow
- Strong Cash Flow Performance: OceanaGold achieved a record $255 million in free cash flow for Q1 2026, representing a 270% increase year-over-year, indicating successful capital allocation and operational efficiency, which enhances the company's financial stability.
- Gold Production and Sales Growth: The total gold production for the quarter reached 130,100 ounces, showing a slight decrease from the previous quarter, yet sales remained robust at 135,400 ounces, reflecting the company's ability to maintain strong sales performance amid high market demand.
- Shareholder Return Initiatives: The company declared a dividend of $0.09 per share and completed $77 million in share buybacks during the first quarter, demonstrating its commitment to enhancing shareholder value while planning further capital repurchase initiatives in the future.
- Management Changes: OceanaGold announced the appointment of Elizabeth Thampy as the new EVP General Counsel, succeeding Liang Tang, who served for 17 years, with Thampy's extensive experience expected to bolster the company's legal compliance and risk management efforts.
See More
OceanaGold Reports Strong Q1 Results with Record Free Cash Flow
- Strong Cash Flow Performance: OceanaGold achieved a record $255 million in free cash flow for Q1 2026, representing a 270% increase year-over-year, indicating significant improvements in capital allocation and execution on growth priorities, thereby enhancing shareholder value creation.
- Steady Gold Production: The total gold production for the quarter reached 130,100 ounces, showing a slight decline from the previous quarter but still exceeding last year's 117,400 ounces, demonstrating the company's success in maintaining production stability and reinforcing its market position.
- Dividend and Buyback Initiatives: The company declared a $0.09 per share dividend and completed $77 million in share repurchases during Q1, reflecting a strong commitment to returning capital to shareholders while showcasing its robust cash flow and financial health.
- Management Changes: OceanaGold announced a leadership transition with the appointment of Elizabeth Thampy as the new EVP General Counsel, whose extensive experience in gold mining is expected to enhance the company's governance and compliance capabilities, supporting future strategic development.
See More
OceanaGold Reports Record Q1 Performance with Strong Cash Flow
- Gold and Copper Production: OceanaGold safely produced 130,100 ounces of gold and 3,200 tonnes of copper in Q1 2026, fully aligning with its annual plan, ensuring stable supply capabilities in the metals market.
- Outstanding Financial Performance: The company achieved record quarterly revenue of $715 million, with an average gold price of $4,894 per ounce and an EBITDA margin of 58%, demonstrating strong profitability and market competitiveness.
- Cash Flow and Shareholder Returns: The operating cash flow reached $382 million in Q1, with free cash flow of $255 million and a 30% increase in cash balance to $620 million, while returning $77 million to shareholders through a buyback program, enhancing investor confidence.
- Technical Report Updates: The company released updated NI 43-101 technical reports for Haile, Macraes, and Didipio, showcasing stable production profiles and extended mine lives, further solidifying its leading position in the industry.
See More
OceanaGold Releases 2025 Sustainability Report Highlighting Progress
- Sustainability Progress: OceanaGold achieved significant advancements in its sustainability priorities in 2025, particularly in safety, health, and community contributions, reflecting the company's commitment to creating value for stakeholders.
- Executive Appointment: The company appointed David Bickerton as Chief Sustainability Officer effective April 1, 2026, leveraging his extensive experience at OceanaGold to drive the implementation of sustainability strategies.
- Renewable Energy Procurement: OceanaGold sources 100% renewable energy through the purchase of Renewable Energy Certificates, marking a proactive effort in environmental management and climate change response.
- Climate-Related Disclosure: The company released its first annual mandatory IFRS S2 climate-related disclosure, detailing annual progress in climate governance, strategy, risk management, and metrics, thereby enhancing transparency and accountability.
See More
OceanaGold Releases 2025 Sustainability Report
- Sustainability Progress: OceanaGold made significant strides in 2025 across sustainability priorities, particularly in safety, health, and environmental management, reflecting the company's commitment to creating value for stakeholders.
- Executive Appointment: The company appointed David Bickerton as Chief Sustainability Officer effective April 1, 2026, leveraging his extensive experience since joining in 2011 to drive the sustainability strategy.
- Renewable Energy Procurement: OceanaGold achieved 100% renewable energy sourcing through the purchase of Renewable Energy Certificates (RECs), marking proactive efforts in climate governance and risk management.
- Climate Disclosure: The company released its first mandatory IFRS S2 climate-related disclosure, detailing annual progress in climate governance, strategy, and risk management, thereby enhancing transparency and accountability.
See More
