OceanaGold reports Q1 revenue of $715 million, generates $255 million free cash flow

OceanaGold Corporation (NYSE: OGC) reported quarterly revenue of $715 million for the three months ended March 31, 2026, according to a company press release. The mining company produced 130,100 ounces of gold and 3,200 tonnes of copper during the first quarter.

The company generated $255 million in free cash flow and $382 million in operating cash flow during the quarter. Cash balances increased 30% to $620 million, with no debt outstanding on its revolving credit facility.

Gold sales totaled 135,400 ounces at an average realized price of $4,894 per ounce. The company's all-in sustaining cost was $2,094 per ounce. Net profit attributable to shareholders reached $228 million, or $1.01 per share.

OceanaGold completed $77 million in share repurchases during the quarter as part of its $350 million buyback program for 2026. The company declared a $0.09 per share dividend payable June 19, 2026, to shareholders of record on May 20, 2026.

The company announced management changes, with Elizabeth Thampy appointed as EVP General Counsel & Company Secretary, replacing Liang Tang who is leaving after 17 years with the company.

OceanaGold operates four mines: the Haile Gold Mine in the United States, Macraes and Waihi operations in New Zealand, and the 80%-owned Didipio Mine in the Philippines. The company listed on the New York Stock Exchange on April 7, 2026.

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