Earnings call transcript: Hemlo Mining misses Q2 2026 estimates, shares rise

Hemlo Mining reported Q2 2026 earnings of $0.09 per share on $142.5 million in revenue, below Wall Street expectations. Despite the miss, the stock rose 1.9% to $6.98, showing investors focused on the company's longer-term strategy. Hemlo's Q2 was a period of transition, with revenue falling due to fewer ounces sold and a lower gold price.

Production also dropped, mainly because of planned changes in mining sequence and a crusher rebuild. Net income was $31 million, and adjusted net income was $27.3 million. EBITDA reached $77.2 million. Hemlo aims to increase production to 4,800 tons per day by year-end 2026 and 6,000 tons per day by the end of 2027. The company is still in a transition phase and is expected to provide 2026 production guidance in October.