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Soma Gold ( (TSE:SOMA) ) just unveiled an announcement.
Soma Gold Corp. reported a 10% increase in revenue to $89.4 million for 2024, with net income rising by 51% to $4.2 million. Despite a decrease in gold production due to lower grades and operational challenges, the company benefited from higher gold prices and stable cash costs. Soma plans to enhance its operations with the restart of the El Limon Mill and the advancement of the Nechi Mine, positioning itself for strong financial performance in 2025. The company is also exploring additional deposits to expand its resource base.
Spark’s Take on TSE:SOMA Stock
According to Spark, TipRanks’ AI Analyst, TSE:SOMA is a Neutral.
Soma Gold faces key challenges with profitability and high leverage despite strong revenue growth and operational efficiencies. Technical indicators point towards a bearish trend, and the current valuation metrics highlight risks due to a negative P/E ratio and lack of dividends. Although corporate actions like stock options indicate internal confidence, the overall outlook remains cautious, focusing on improvements in financial health.
To see Spark’s full report on TSE:SOMA stock, click here.
More about Soma Gold
Soma Gold Corp. is a mining company focused on gold production and exploration, owning two adjacent mining properties in Antioquia, Colombia, with a combined milling capacity of 675 TPD. The company is committed to sustainability and community engagement, with ongoing exploration efforts to increase resource size and extend the life of its mines.
YTD Price Performance: 32.73%
Average Trading Volume: 112,364
Technical Sentiment Signal: Sell
Current Market Cap: C$67.24M
See more data about SOMA stock on TipRanks’ Stock Analysis page.