Benzinga's Top Pick Aura Minerals Eyes $210 Million US Listing

Gold and copper producer Aura Minerals (OTCQX:ORAAF) is preparing to raise approximately $210 million through a U.S. listing, aiming to expand its investor base beyond current markets in Canada and Brazil.

The company plans to offer 8.1 million shares and will list on the Nasdaq Global Select Market under the AUGO ticker.

Although headquartered in Florida, Aura has been listed on the Toronto Stock Exchange (TSX) and Brazil's B3 exchange. The U.S. listing would open a new chapter for the company, providing access to the major capital market.

Proceeds from the offering will fund the $76 million cash portion of its June acquisition of Mineração Serra Grande from AngloGold Ashanti—a move that increases the miner's operation in Brazil.

Founder Paulo Carlos de Brito remains the controlling shareholder, holding around 53% of Aura's outstanding shares.

Aura's operations focus on the LATAM region. It operates in Brazil, Mexico, Honduras, and Colombia, with an additional project under development in Guatemala.

The firm dubbed its operational philosophy "360° Mining," encompassing sustainability, community engagement, and integrated value creation across the entire mining lifecycle.

Aura was named one of Benzinga's top four mining stocks for 2024, attracting attention with value, improving all-in-sustaining costs, and a hefty dividend. The stock rose 85% in 2024 and accelerated its momentum in 2025, gaining nearly 100% year-to-date to reach a market capitalization of CA$2.67 billion ($1.96 billion).

The gold sector as a whole has benefited from favorable macroeconomic dynamics. Spot gold prices have surged 26.5% this year, driven by geopolitical instability, inflation hedging, and continued central bank buying. In May alone, central banks added a net 20 tons to global reserves. 

"Gold remains one of the most optimal hedges for the unique combination of stagflation, recession, debasement, and U.S. policy risks," said Natasha Kaneva, Head of Global Commodities Strategy at JPMorgan.

The bank forecasts gold could average $3,675/oz in Q4 2025 and surpass $4,000 by 2026, supporting bullish sentiment in gold equities like Aura.

Top institutions, such as Bank of America and Goldman Sachs, lead Aura's U.S. offering. The final offer price will be based on the TSX closing price on July 14, ahead of the Nasdaq debut the following day.

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