Resolute Mining Shares Rise 5 Percent as Analysts Call Gold Miner Undervalued After Profit Surge

Shares of Resolute Mining rose more than 5% Monday, extending a stretch of investor interest in the Perth-based gold producer following a set of half-year results that showed profit more than doubling on the back of surging gold prices.

The stock traded at 1.44 Australian dollars, up 0.07 dollars, or 5.11%, on the Australian Securities Exchange. Resolute, which operates the Syama gold mine in Mali and the Mako mine in Senegal while developing the Doropo project in Cote d’Ivoire, has drawn sustained attention from analysts and investors in the roughly two weeks since it reported its results for the six months ended June 30.

Resolute reported net profit after tax of 162.6 million dollars for the first half of 2026, up 129% from 71 million dollars in the same period a year earlier, according to a summary of the results published by Kalkine Media. Revenue rose 31% to 584.7 million dollars, driven primarily by a sharply higher average realized gold price of 4,712 dollars per ounce, compared with 3,076 dollars per ounce in the first half of 2025, even as overall gold production declined to 104,795 ounces from 151,460 ounces a year earlier. Earnings before interest, taxes, depreciation and amortization rose 42% to 323.9 million dollars, according to the same figures.

Resolute Chief Executive Officer Chris Eger described the results as reflecting the strength of the company’s underlying operations despite the production decline. “Resolute has delivered a strong first half of 2026, generating significant operating cash flow and ending the period with a net cash position of 317.4 million dollars,” Eger said, according to a company statement carried by TradingView News. “This performance was underpinned by continued strength in the gold price, disciplined cost management and the resilience of both Syama and Mako. During the period we continued to advance our key growth initiatives. At Doropo, the project progressed from final investment decision into active construction, with early works advancing and financing progressing.”

The lower production figures were tied to operational disruptions at the Syama mine, including a planned roaster shutdown, explosives supply interruptions and slower-than-expected mobilization in the mine’s A21 area, according to reporting from Discovery Alert. Those disruptions pushed the company’s all-in sustaining cost up sharply to 2,327 dollars per ounce, a 38% increase from 1,688 dollars per ounce in the first half of 2025, a rise the company attributed to a combination of higher royalty payments tied to elevated gold prices and reduced production volumes.

Resolute’s balance sheet strengthened considerably during the period. Net cash climbed 189% to 317.4 million dollars, up from roughly 109.9 million dollars a year earlier, while operating cash flow more than doubled to 277.6 million dollars. The company also received 31.9 million dollars from the sale of its stake in Loncor Gold and a further 53.9 million dollars from repayment of a vendor financing note tied to its earlier Ravenswood mine transaction, according to figures reported by Kalkine Media.

Beyond its existing operations, Resolute continued advancing its growth pipeline during the period. The company’s ABC Project in northwest Cote d’Ivoire saw its inferred mineral resource estimate grow to 3 million ounces of contained gold, up from 2.16 million ounces a year earlier, according to Stocklight. Resolute has also secured 155 million dollars in local bank financing in Cote d’Ivoire to support the Doropo project’s construction, with an additional 105 million dollars in financing expected to be secured during the third quarter of 2026.

Analysts have responded favorably to the results. According to Simply Wall St, Resolute’s stronger-than-expected profitability has prompted some analysts to argue the stock remains meaningfully undervalued, with certain fair-value estimates suggesting upside of as much as 59% from prior trading levels, even as the firm cautioned that funding requirements and regulatory risk in the company’s West African operating jurisdictions remain factors investors should continue to monitor closely.