Ramelius Resources (ASX:RMS) Flags Its Biggest Quarter Yet! Is Now the Time to Buy This Underrated Gold Stock?

Ramelius Resources could be heading for its strongest quarter yet

Ramelius Resources (ASX: RMS) released its March 2026 quarterly report yesterday, revealing a headline production number of 38,093 ounces, which doesn’t fully capture the company’s performance. The company confirmed its full-year production guidance remains on track, and management flagged the June quarter as the biggest of the year. For investors sitting on the sidelines, this update is worth reading carefully.

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Steady Delivery Is Ramelius’s Biggest Selling Point

The March quarter production looks soft compared to recent periods, and there is a simple reason for that. Rainfall and road closures disrupted operations during the quarter, which meant high-grade ore that was ready to mine ended up sitting in stockpiles rather than going through the processing plant. That production has not gone away. It is waiting to be processed in the June quarter, which is a key reason management is confident about a stronger finish to the year.

What this reflects is something Ramelius Resources does consistently well: it keeps its promises. Meeting FY26 guidance would mark the sixth consecutive year the company has delivered on both its production and cost targets. In the gold sector, where surprises are common and guidance misses are frequent, that kind of reliability matters. We believe this track record is one of the most underappreciated qualities of the RMS investment case.

The Big Quarter Promise- Can They Deliver?

The June quarter acceleration is being driven by a few things happening at once. The stockpiles built up during the March weather disruptions are now ready to process. More importantly, first ore from the Never Never deposit at the Dalgaranga mine has arrived at the Mt Magnet processing plant ahead of schedule and at better-than-expected grades. That is genuinely good news, because it means a new and higher-quality ore source is starting to contribute to production sooner than planned.

Add to this the fact that Australian gold prices remain near record levels, and Ramelius Resources is well positioned to turn the June quarter into a strong finish to FY26. The full-year guidance range of 185,000 to 205,000 ounces remains achievable, and we think hitting the midpoint is a realistic outcome.

The key risk to watch is execution at Dalgaranga as the Never Never ramp-up continues to scale. Cost pressures are also a reality across the gold sector right now, and Ramelius is not immune. Investors should keep that in mind when looking at margins over the next 12 months.

The Investor’s Takeaway for Ramelius Resources

Ramelius Resources holds a strong balance sheet with A$606.5 million in cash and gold as at the March quarter, is running a A$250 million share buyback, and has a clear five-year plan to grow production significantly by FY30. The stock is currently sitting well below its 52-week high of A$5.16, which means investors today are getting a better entry point than those who bought into the momentum earlier in the year.

In our view, the combination of consistent delivery, a solid financial position, and a genuine production growth story makes Ramelius Resources one of the more attractive mid-tier gold stocks on the ASX right now. The June quarter is the one to watch. If management delivers on the bigger quarter they have flagged, that is likely to be a positive catalyst for the share price. We believe the risk-reward at current levels is favourable for investors with a 12-month view.