Evolution Mining Reports Record A$926 Million FY Profit on Gold Price Surge

Evolution Mining reported a record net profit of A$926.2 million (US$605 million) for the fiscal year ending June 2025, more than doubling its profit from the previous year, driven by higher gold and copper prices and increased production. The company declared a record final dividend of 13 Australian cents per share, up from 5 cents a year earlier, supported by strong earnings before interest, taxes, depreciation, and amortization (EBITDA) of A$2.16 billion. Production rose with 5% more gold and 12% more copper produced compared to the prior year, including record output at the Cowal mine in New South Wales, where a A$430 million extension project has been approved. Despite a 12% increase in all-in sustaining costs, Evolution maintains a sector-leading cost position and benefits from elevated gold prices, which traded roughly A$800 an ounce higher than the average price received. The company also reported improvements in safety and emissions reductions, strengthened its balance sheet through deleveraging, and highlighted key projects such as the Mungari mill expansion and Cowal Open Pit Continuation to support future growth. Analysts currently rate Evolution Mining stock as a Hold with a price target of A$5.00.