Turk Altın shares fall after Q2 earnings miss forecasts

Shares of Turk Altın tumbled on Thursday after the company posted second-quarter earnings that fell short of analyst estimates, reflecting weaker-than-expected financial performance.

The Istanbul-listed gold refiner reported a net profit decline for the quarter, citing lower refining volumes and compressed margins amid volatile precious metals markets. Revenue also came in below consensus forecasts, with management attributing the shortfall to reduced demand and operational headwinds.

Analysts had forecast Turk Altın to post a net profit of 1.8 billion Turkish lira, but actual earnings fell to 1.5 billion lira, according to a Reuters poll. Revenue was reported at 4.2 billion lira, undershooting the 4.6 billion lira estimate.

The stock, which had gained 5% year-to-date prior to the announcement, dropped as much as 8% in intraday trading before paring some losses. Trading volume surged to nearly three times the 30-day average as investors reacted to the results.

Turk Altın, a major player in Turkey’s gold refining sector, has faced challenges from rising input costs and regulatory pressures in recent quarters. The company has warned that macroeconomic uncertainty and fluctuating gold prices could weigh on near-term performance.

Investor sentiment remains cautious, with some analysts suggesting that the earnings miss could delay planned capacity expansions. The company is scheduled to hold a conference call with analysts next week to discuss the results in detail.