Canadian Halal Investor.

TSX Shariah screener · October 2026

Is Jaguar Mining Inc. (JAG) Halal?

PASS

Jaguar Mining Inc. · TSX: JAG · Materials

The short answer

Yes — Jaguar Mining (JAG) passes this screen: it is a gold-mining-only business with no haram segments; total interest-bearing debt of US$9.0 million is about 2.1% of its market cap (vs a ~33% ceiling); and H1 2026 interest income of US$1.9 million is about 2.0% of revenue (vs a ~5% ceiling). No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Jaguar Mining Inc. (TSX:JAG; OTCQX:JAGGF) is a Canadian-listed mid-tier gold producer, developer, and explorer focused on Brazil's Iron Quadrangle in Minas Gerais. Note 1 of the Q2 2026 interim financial statements describes the company as engaged in the acquisition, exploration, development, and operation of gold producing properties in Brazil, and its official site states it owns and operates three underground gold mining complexes with continuous production since 2002. H1 2026 revenue of US$95.9 million comes from gold sales — no alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed. The US$4.9 million of short-term investments are equity securities in TSX-V junior gold mining companies (Note 3), not a lending or financial business. Facts only.

Gate 2 — Debt and cash: PASS

Total interest-bearing debt at June 30, 2026 was US$9.0 million, comprising US$6.3 million of notes payable, US$1.0 million of current lease liabilities, and US$1.7 million of non-current lease liabilities — the June 30, 2026 balance sheet shows no long-term debt and no convertible debentures. With 85,330,861 shares outstanding at June 30, 2026 and a TSX price of C$7.04 on September 30, 2026 (stockanalysis.com), market capitalization is roughly C$600.7 million (about US$433.5 million using the OTCQX quote of US$5.08 on September 29, 2026, per Finnhub). Debt ÷ market cap ≈ 2.1%, well under the ~33% ceiling. Facts only.

Gate 3 — Non-compliant income: PASS

For the six months ended June 30, 2026, interest income was US$1.9 million (Note 13) and revenue was US$95.9 million. Interest income ÷ revenue ≈ 2.0%, under the ~5% ceiling. Facts only.

Key figures used

Frequently asked questions

Is Jaguar Mining (JAG) halal?

Yes — Jaguar Mining (JAG) passes this screening: it is a gold-mining-only business with no haram segments (no alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed); total interest-bearing debt of US$9.0 million is about 2.1% of its market cap, well under the ~33% ceiling; and H1 2026 interest income of US$1.9 million is about 2.0% of revenue, under the ~5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Jaguar Mining's debt-to-market-cap ratio?

About 2.1%. Total interest-bearing debt at June 30, 2026 was US$9.0 million — comprising US$6.3 million of notes payable, US$1.0 million of current lease liabilities, and US$1.7 million of non-current lease liabilities — against a market capitalization of roughly C$600.7 million (TSX price C$7.04 on September 30, 2026, stockanalysis.com; about US$433.5 million at the OTCQX quote of US$5.08 on September 29, 2026, per Finnhub). That is well under the ~33% ceiling, and the June 30, 2026 balance sheet shows no long-term debt and no convertible debentures.

What does Jaguar Mining do?

Jaguar Mining Inc. (TSX:JAG; OTCQX:JAGGF) is a Canadian-listed mid-tier gold producer, developer, and explorer focused on Brazil's Iron Quadrangle in Minas Gerais. Note 1 of the Q2 2026 interim financial statements describes the company as engaged in the acquisition, exploration, development, and operation of gold producing properties in Brazil, and its official site states it owns and operates three underground gold mining complexes with continuous production since 2002. Q2 2026 production was 13,057 ounces (Pilar 9,063 + Turmalina 3,994) and 2026 guidance is 50,000–60,000 ounces.

How much interest income does Jaguar Mining earn relative to revenue?

For the six months ended June 30, 2026, interest income was US$1.9 million (Note 13) and revenue was US$95.9 million. Interest income ÷ revenue ≈ 2.0%, under the ~5% ceiling.

Where can I find more materials stock screeners?

See halal-stock-verdicts.html for the full list of stock screeners, including the other materials-sector entries.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.