Evolution Mining

(AI video summary)

This video was created on 15 October 2025 for IG audiences by ausbiz.

ASX code: EVN

Evolution Mining boosts outlook with strong performance

Evolution Mining has strengthened its financial year (FY) 2026 outlook following excellent operations. Evolution reported a record net mined cash flow of $366 million and a near-record operating cash flow of $676 million. With prices in line with guidance, production and cost targets are on track.

The company reduced gearing to 11% and repaid bank term loans. In the September quarter, it produced 174,000 ounces of gold and 18,000 tonnes of copper at an all-in sustaining cost of $1724 per ounce.

Market reaction

Evolution Mining shares have soared over 130% this year, helped by rising gold prices. Despite a small pullback, analysts note the favourable cost structure and debt reduction efforts. With gearing at 11% and no debt repayments until FY 2029, Evolution is in a strong position.

Investment outlook

Opinions differ on whether to take profits now, with some suggesting the momentum in gold and copper may be overdone. Copper accounts for 30-35% of Evolution's revenue, contributing to its recent gains.

Analysts suggest cautious profit-taking, especially if the stock price falls to around $10. Evolution remains robust but a pause in the sector could offer new buying chances.