What is the market's earnings forecast for Aura Minerals next quarter?

What factors drove the changes in Aura Minerals's revenue and profit?

What is the revenue and EPS growth rate for Aura Minerals year over year?

What does Aura Minerals do and what are its main business segments?

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Did Aura Minerals beat or miss consensus estimates last quarter?

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What is Aura Minerals's latest dividend and current dividend yield?

- **Record Q3 Performance**: $248M revenue, 74K oz production, $152M EBITDA (45% YoY growth)
- **Dividend Strength**: $0.48/share declared (77.4% yield), $40M payout vs $30M Q2
- **Balance Sheet Health**: $350M cash, $64M net debt (0.15x LTM EBITDA)
- **Strategic Momentum**: MSG acquisition closing Q3, Borborema near full capacity, 2026 guidance 204-220K oz
- **Liquidity Expansion**: Daily trading volume $29.7M vs $1.5M pre-IPO, targeting index inclusion


**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $248 million, up 15% YoY, driven by North American market recovery and higher gold prices ($3,825/oz vs $3,287/oz Q2). 
- **Production Milestones**: Achieved 74,000 oz Q3 production (vs 64,000 oz Q2), with Borborema nearing full capacity. MSG acquisition expected to close Q3, adding 80,000 oz/y production.
- **Cost Control**: All-in sustaining cash cost reduced to $1,396/oz (vs $1,450/oz Q2), despite higher gold price impact on oz equivalency.
- **Strategic Initiatives**: 
  - $0.48/share dividend declared (77.4% yield vs 12-month average)
  - NASDAQ listing boosted daily trading volume to $29.7 million (from $1.5 million pre-IPO)
  - 2026 guidance: 204,000-220,000 oz production, <10% YoY CapEx growth

**【CFO Financial Commentary】**
- **Q3 Financials**: 
  - GAAP net income: $6 million (vs $37 million Q2), impacted by $75 million non-cash derivative loss
  - Adjusted EBITDA: $152 million (vs $108 million Q2), driven by 45% YoY production growth
  - Free cash flow: $75 million (vs $50 million Q2), after $28 million dividend payout
- **Balance Sheet**: 
  - Cash: $350 million post-IPO
  - Net debt: $64 million (0.15x LTM EBITDA)
  - 12-month EBITDA: $419 million (vs $320 million 2024)
- **Derivative Update**: Zero-cost collar marking to market reduced Q3 net income by $75 million, but preserved long-term project economics

**【Q&A Highlights】**
1. **Capital Allocation**: 
   - Prioritize MSG turnaround, Borborema expansion, and Era Dorada/Matupa feasibility
   - M&A pipeline active, but disciplined on valuation
2. **Dividend Policy**: 
   - 20%+ EBITDA payout target ($420 million+ annualized)
   - Q3 dividend: $40 million (vs $30 million Q2)
3. **Project Updates**: 
   - MSG expected to close Q3, with 12-18 months to reach 100,000 oz/y
   - Borborema road relocation progressing, potential 20%+ reserve expansion
   - Era Dorada feasibility study to be released Q4
4. **Liquidity Goals**: 
   - Target $30+ million/day trading volume to attract institutional investors
   - Evaluate index inclusion (e.g., ESG, Nasdaq 100)


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