The S&P/ASX 200 Index (ASX: XJO) has gained 3.2% over 12 months, but this ASX 200 gold stock has left those gains wanting.
The surging gold miner in question is Greatland Resources Ltd (ASX: GGP).
In late-afternoon trade on Thursday, Greatland Resources shares were trading for $11.33 apiece. That sees the share price up a whopping 83.1% since this time last year. And it gives the Aussie gold miner a market cap of just over $7.6 billion.
Greatland has benefited from both the strong gold price and the fast-rising copper price, with exposure to both through its Telfer and Havieron gold-copper mines in Western Australia.
And the ASX 200 gold stock has hardly been sitting idle.
Here’s why it still looks like a compelling buy today.
Why this ASX 200 gold stock could keep charging higher
MPC Markets’ Jonathan Tacadena recently analysed the outlook for Greatland’s surging shares (courtesy of The Bull).
“GGP is a gold and copper producer,” he noted.
Citing the first reason he issued a buy recommendation on the ASX 200 gold stock, Tacadena said, “The company produced 329,000 ounces of gold in full year 2026, comfortably beating guidance.”
And Greatland is keeping a lid on its production costs.
“All in sustaining costs [AISC] were also below guidance,” Tacadena said.
For FY 2026, Greatland Resources reported an AISC of $2,179 per ounce of gold produced.
Then there’s the miner’s admirable balance sheet.
“It held cash of $1.289 billion at June 30 and had no debt,” Tacadena noted.
As for the fourth reason the ASX 200 gold stock still looks like a good buy today, he concluded:
It has full upside exposure to the gold price via put options. A reserve upgrade at the Telfer mine in Western Australia is also encouraging. The company is enjoying favourable momentum.
What’s the latest from Greatland Resources?
Greatland Resources announced its FY 2026 results on 27 August, the first full year that it owned the Telfer gold mine.
The company reported revenue of $2.26 billion from sales of 326,859 ounces of gold and 14,730 tonnes of copper, with free cash flow of $737 million, soaring 413% from FY 2025.
On the bottom line, the ASX 200 gold stock achieved a net profit after tax (NPAT) of $862 million, up 156% year on year.
Commenting on the strong results, Greatland managing director Shaun Day said:
Our first full financial year of Telfer under our ownership delivered exceptional operating results, driven by significant productivity improvements in our open pit and underground mines, and an excellent performance in our processing operations.
The post Up 83%! 4 reasons I’d still buy this $8 billion ASX 200 gold stock today appeared first on The Motley Fool Australia.
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More reading
- Buy, hold, sell: Greatland Resources, PEXA Group, Origin shares
- Greatland Resources shares fall despite profit and revenue surge on first full year of Telfer operation
- Macmahon Holdings awarded $485m Telfer contract extension
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.