The Zijin Gold acquisition at C$44/share is the dominant near-term catalyst. With the outside closing date of May 29, 2026 approaching, the stock should trade near the offer price adjusted for FX and deal risk. Monitor for regulatory approval updates or extension announcements. The Q1 operational beat on production and adjusted earnings is positive but secondary to the M&A process.
Price Chart
Executive Summary
Allied Gold reported Q1 2026 results showing 14% YoY production growth to 96,016 oz and revenue up 14% to $394.1M, driven by a 40% increase in average realized gold prices. However, attributable net loss was $58.3M ($0.47/share) vs $15.1M profit a year ago, due to $55.2M in share-based compensation and $37.8M in mark-to-market losses on convertible debentures. Adjusted net earnings were $48.6M ($0.39/share), up from $45.1M. The company is in the process of being acquired by Zijin Gold for C$44/share (~C$5.5B total), with all shareholder and court approvals obtained and regulatory approvals pending; the outside closing date is May 29, 2026, subject to extension.
Key Facts
- Q1 2026 gold production of 96,016 oz, up 14% YoY from 84,040 oz
- Revenue of $394.1M, up 14% from $346.4M YoY
- Attributable net loss of $58.3M ($0.47/share) vs net earnings of $15.1M ($0.14/share) YoY
- Adjusted net earnings of $48.6M ($0.39/share) vs $45.1M ($0.41/share) YoY
- Adjusted EBITDA of $173.3M, up from $133.8M YoY
- Cash and cash equivalents of $424.2M as of March 31, 2026
- Operating cash flow before working capital of $152.2M, up from $92.9M YoY
- Net cash from operations of $57.3M vs $121.1M YoY, impacted by $95.0M working capital outflow
- Zijin Gold acquisition at C$44/share, total value ~C$5.5B; all shareholder and court approvals obtained, regulatory approvals pending
- Outside closing date for Zijin transaction is May 29, 2026, subject to extension
- Kurmuk project on track for first gold mid-2026, targeting 100,000-150,000 oz in 2026
- Material weakness in internal controls over financial reporting not yet remediated
Financial Impact
Revenue $394.1M (+14% YoY); Adjusted EBITDA $173.3M (+29% YoY); Attributable net loss $58.3M vs profit $15.1M YoY; Cash $424.2M
Risk Factors
- Zijin Gold acquisition may not close by May 29 outside date or at all if regulatory approvals are delayed
- Material weakness in internal controls over financial reporting not yet remediated
- Operating cash flow declined YoY due to working capital outflows
- Costs per ounce increased significantly due to higher royalties from elevated gold prices
- Security situation in Mali with government-insurgent conflicts poses operational risk
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-035189 |
| Document: alliedgoldfinancialstateme.htm | 0001628280-26-035189 |
| Document: alliedgold-6xkwrap.htm | 0001628280-26-035189 |
| Document: 0001628280-26-035189-index-headers.html | 0001628280-26-035189 |
| Document: 0001628280-26-035189-index.html | 0001628280-26-035189 |
| Document: 0001628280-26-035189.txt | 0001628280-26-035189 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 6-K | $20.19 $19.58 | ▼ −3.02% | ▼ −2.78% | $19.89 (−1.49%) |
Sep 17, 2026 5w ago | 6-K | $22.91 $22.38 | ▼ −2.31% | ▼ −3.86% | $19.89 (−13.18%) |
Aug 5, 2026 11w ago | 6-K | $20.67 $21.78 | ▲ +5.37% | ▲ +4.76% | $19.89 (−3.77%) |
Aug 5, 2026 11w ago | Press Release | $20.67 $21.78 | ▲ +5.37% | ▲ +4.76% | $19.89 (−3.77%) |
Jul 31, 2026 12w ago | 6-K | $18.23 $19.10 | ▲ +4.77% | ▲ +3.35% | $19.89 (+9.11%) |
Jul 29, 2026 12w ago | 6-K | $17.03 $17.84 | ▲ +4.76% | ▲ +3.08% | $19.89 (+16.79%) |
Jul 17, 2026 14w ago | 6-K | $20.82 $20.41 | ▼ −1.97% | ▼ −1.81% | $19.89 (−4.47%) |
May 29, 2026 21w ago | 6-K | $25.55 $25.78 | ▲ +0.90% | ▲ +0.76% | $19.89 (−22.15%) |
May 29, 2026 21w ago | Press Release | $26.17 $25.55 | ▼ −2.37% | ▼ −2.64% | $19.89 (−24.00%) |
May 21, 2026 22w ago | 6-K | $26.55 $27.32 | ▲ +2.90% | ▲ +2.45% | $19.89 (−25.08%) |
US Market Status
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