Impact: Neutral
Aura released its Q3/21 financial and full operational results (ended Sep 30/21) which missed our revenue, EBITDA and EPS expectations. While production and realized Au and Cu prices were lower QoQ, the largest impact to earnings was an impairment expense recorded due to the company’s decision to stop investing in its Gold Road mine in Arizona because of operational challenges (read more). We slightly reduce our target to C$23.00 (was C$23.25) due to revised guidance provided by Aura and incorporating Q3/21 financial results.