Aton Resources (AAN) AI Stock Analysis

• Market Cap: C$81.57M
• Dividend Yield: N/A
• Average Volume (3M): 16.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Industrial Materials
• EPS (TTM): -0.03
• Shares Outstanding: 127,454,414
• 10 Day Avg. Volume: 13,772
• 30 Day Avg. Volume: 16,308
• PEG Ratio: 0.04
• Price to Book (P/B): -2.11
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.61
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$0.60 ▲(32.44% Upside)

The score is held down primarily by weak financial performance (pre-revenue operations, widening losses, negative equity, rising debt, and sustained cash burn implying financing risk). This is partially offset by favorable technical momentum (price above key moving averages with positive MACD). Valuation provides limited support due to negative earnings and no dividend yield data.

Aton Resources Business Overview & Revenue Model

Company Description

Aton Resources Inc., a mineral exploration company, explores and develops mineral properties in the Arab Republic of Egypt. It explores for gold, silver, copper, zinc, and base metal deposits. Aton Resources Inc. is based in Vancouver, Canada.

How the Company Makes Money

Aton Resources Financial Statement Overview

Summary

Financials reflect a high-risk, pre-revenue profile: revenue remains 0, losses have widened (TTM net loss -$12.69M), operating/free cash flow are deeply negative (TTM FCF -$9.46M), and the balance sheet is stressed with negative equity (TTM -$19.07M) alongside sharply rising debt (TTM $19.86M). This indicates substantial execution and ongoing financing risk.

Income Statement

Results reflect a pre-revenue profile (revenue remains 0 across annual periods and TTM (Trailing-Twelve-Months)), with persistent losses. Losses have generally widened versus earlier years (net loss: -$1.35M in 2020 to -$9.87M in 2024 and -$12.69M in TTM), indicating rising cost structure and/or investment spend. With negative gross profit and no revenue base, profitability and margin quality are weak, and the path to earnings depends on future commercialization rather than current operating momentum.

Balance Sheet

Financial position is highly stressed with negative equity in every period (TTM equity: -$19.07M; 2024: -$9.49M), which limits balance-sheet flexibility and increases financing risk. Debt has increased sharply (from $0.38M in 2020 to $9.63M in 2024 and $19.86M in TTM), while total assets remain modest (TTM assets: $3.43M). The negative equity also makes leverage signals unfavorable and suggests the company is reliant on continued external funding to sustain operations.

Cash Flow

Cash generation is consistently negative, with operating cash burn increasing over time (operating cash flow: -$0.41M in 2020 to -$7.36M in 2024 and -$9.43M in TTM). Free cash flow is also persistently negative (TTM: -$9.46M), implying ongoing funding needs. While free cash flow moved in the right direction in the latest TTM growth figure, overall cash-flow stability remains weak given the recurring and expanding burn profile.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-58.52K	-59.43K	-83.95K	-133.96K	-103.30K	-40.60K
EBITDA	-11.25M	-8.59M	-5.99M	-6.86M	-2.35M	-1.22M
Net Income	-12.69M	-9.87M	-9.94M	-8.56M	-4.63M	-1.35M
Balance Sheet
Total Assets	3.43M	1.87M	824.69K	687.95K	760.60K	79.79K
Cash, Cash Equivalents and Short-Term Investments	2.38M	1.27M	453.28K	116.55K	82.27K	32.42K
Total Debt	19.86M	9.63M	10.21M	7.21M	4.74M	378.51K
Total Liabilities	22.51M	11.37M	10.82M	8.11M	5.78M	2.39M
Stockholders Equity	-19.07M	-9.49M	-9.99M	-7.42M	-5.02M	-2.31M
Cash Flow
Free Cash Flow	-9.46M	-7.65M	-5.85M	-6.71M	-3.84M	-413.80K
Operating Cash Flow	-9.43M	-7.36M	-5.81M	-6.71M	-3.42M	-413.80K
Investing Cash Flow	-29.74K	-289.65K	-35.59K	0.00	-412.23K	0.00
Financing Cash Flow	11.30M	8.47M	6.18M	6.74M	3.89M	394.78K

Aton Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ATY	54 Neutral	C$63.18M	-1.72	-38.09%	―	-19.56%	-394.65%
AAN	52 Neutral	C$81.57M	-6.43	―	―	―	―
QZM	52 Neutral	C$62.01M	-14.86	-124.66%	―	―	-32.14%
FMS	45 Neutral	C$44.93M	-13.47	-16.33%	―	―	-64.76%
FOX	43 Neutral	C$55.81M	―	―	―	―	―

Aton Resources Corporate Events

Aton’s Metallurgical Tests Point to Strong Processing Potential at Abu Marawat

Aton Mining has released preliminary metallurgical test results from its Abu Marawat deposit in Egypt, indicating that the project’s oxide, transitional and sulphide mineralisation responds well to conventional processing routes. Testwork showed that gold is largely amenable to cyanide leaching, copper flotation can produce high-value concentrates with significant silver credits, and sequential flotation can yield saleable copper and zinc concentrates, although zinc depression in some transitional ores remains a technical challenge. The results suggest that a flowsheet combining flotation, leaching and SART could enhance overall metal recoveries and enable cyanide regeneration, supporting the potential economic viability of Abu Marawat and strengthening Aton’s positioning as it advances a polymetallic project capable of generating multiple revenue streams from gold, copper, silver and zinc.

The most recent analyst rating on (TSE:AAN) stock is a Hold with a C$0.45 price target. To see the full list of analyst forecasts on Aton Resources stock, see the TSE:AAN Stock Forecast page.

Aton Resources Extends High-Grade Gold Mineralisation at Semna Project in Egypt

Aton Resources has reported final assays from its phase 3a reverse circulation drilling campaign at the Semna gold mine project in Egypt, confirming multiple high‑grade gold intersections and wide zones of quartz vein–hosted mineralisation at depth, along strike and on newly tested structures. The results, which include intervals such as 3.65 g/t gold over 25 metres and 4.20 g/t gold over 17 metres, extend mineralisation beneath historical workings on the Main and Offset veins, identify additional high‑grade zones east‑northeast of the old mine, and demonstrate near‑surface mineralisation on previously untested structures, reinforcing Semna’s potential as a significant high‑grade orogenic gold deposit; alongside ongoing work at Abu Marawat and advancement of the Hamama West project toward planned production in 2027, the latest data underscore Aton’s efforts to build a multi‑asset gold platform in Egypt and strengthen its position as an emerging international gold miner in the country.