Strategic Share Buyback Initiated
Aura Minerals Board Approves Programs to Repurchase Common Shares and Brazilian Depositary Receipts
Aura Minerals (NASDAQ: AUGO | B3: AURA33) has authorized a US$200 million share repurchase program, its largest ever, covering both common shares and Brazilian Depositary Receipts (BDRs). The program runs through June 18, 2027, according to GlobeNewswire.
CEO Rodrigo Barbosa said the buyback "reflects the confidence we have in our operational momentum and strong cash generation," per GlobeNewswire. The announcement comes just days after shareholders approved governance changes at Aura's annual meeting.
Record Earnings Fuel a $200 Million Buyback
Aura's finances have surged over the past year. In Q1 2026, revenue jumped 136% year-over-year to US$382.6 million, according to Zacks Investment Research. The company produced 82,137 Gold Equivalent Ounces (GEO) — units that convert all metals into a gold price equivalent — a 37% increase from Q1 2025.
For full-year 2025, Aura posted Adjusted EBITDA of US$547 million, a company record, according to GlobeNewswire. Analysts at WallStreetZen forecast average 2026 revenue of US$1.14 billion. Aura says it will fund the entire buyback from existing cash on hand.
Nasdaq Debut and Mine Acquisitions Built This Moment
Aura listed on the Nasdaq Global Select Market in July 2025 under the ticker "AUGO," raising about US$200 million in its IPO, according to S&P Global Ratings. Two months later, its Borborema mine in Brazil hit commercial production ahead of schedule.
Aura also closed its US$76 million purchase of the Mineração Serra Grande (MSG) mine from AngloGold Ashanti in December 2025, per Investing News Network. S&P responded by upgrading Aura's credit rating to 'BB-', citing strong free cash flow and a smooth MSG integration.
Bulls See a Bargain, Bears Warn of Overvaluation
Goldman Sachs raised its price target on Aura to $68 in early 2026, arguing the stock traded at a 30% discount to spot gold prices, according to Investing.com. Aura's market cap stood at roughly US$2.834 billion as of June 17, 2026. Its dividend yield is 4.5%, based on the most recent US$0.78 per share payment.
Not everyone agrees. Simply Wall St published a report on June 18 calling Aura "50% overvalued," with a fair value estimate of $44.00 against a trading price of $65.98. Zacks issued a "Strong Sell" rating in May, warning that EPS estimates are trending lower and large projects like Era Dorada in Guatemala carry real execution risk.
SEC Safe Harbor Rules Govern How Shares Can Be Bought
The repurchase program operates under SEC Rule 10b-18 and Rule 10b5-1. These rules give companies a legal "safe harbor" — meaning protection against stock manipulation charges — as long as they follow strict timing and volume limits set by regulators.
Aura's board will decide the timing and size of each purchase based on market conditions, price levels, and other investment options, per GlobeNewswire. Chairman Paulo Carlos de Brito controls about 47.7% of the company, per S&P Global Ratings, giving the board significant sway over capital allocation decisions.
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