Alphamin Resources Corp. (TSE:AFM)
:AFM
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Alphamin Resources
(AFM)
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Rating:73Outperform
Price Target:
C$1.50
▲(29.31% Upside)
Action:Reiterated
Date:03/12/26
The score is driven primarily by strong recent financial performance (rapid revenue and profit growth, high margins, improving leverage) and supportive valuation (low P/E and high dividend yield). This is partially offset by weak technical momentum (price below key moving averages and subdued RSI/MACD), which raises near-term timing risk.
Positive Factors
Strong recent revenue and profit growth
Sharp revenue and net income growth in 2025 demonstrates meaningful operating leverage and improved execution at the core mine. Sustained top‑line expansion supports durable cash generation for reinvestment, debt reduction and shareholder returns, improving resilience across cycles.
Negative Factors
Earnings and cash-flow volatility
Historical swings—weak operating cash flow in 2023 and a loss in 2020—highlight structural exposure to commodity cycles. Such volatility can force erratic capex, higher working‑capital needs or temporary leverage increases, complicating long‑term planning and consistent shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong recent revenue and profit growth
Sharp revenue and net income growth in 2025 demonstrates meaningful operating leverage and improved execution at the core mine. Sustained top‑line expansion supports durable cash generation for reinvestment, debt reduction and shareholder returns, improving resilience across cycles.
Read all positive factors
Alphamin Resources (AFM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.87B
Dividend Yield9.17%
Average Volume (3M)1.58M
Price to Earnings (P/E)2.3
Beta (1Y)1.77
Revenue Growth36.51%
EPS Growth80.51%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.12
Shares Outstanding1,279,110,500
10 Day Avg. Volume1,905,715
30 Day Avg. Volume1,577,392
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)2.91
Price to Sales (P/S)1.75
P/FCF Ratio5.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.11
Revenue Forecast (FY)C$612.03M
Alphamin Resources Business Overview & Revenue Model
Company Description
Alphamin Resources Corp., together with its subsidiaries, engages in the extraction, production, and sale of tin concentrates in the Democratic Republic of the Congo. Its flagship property is the Mpama North Tin project that consists of five explo...
How the Company Makes Money
Alphamin primarily makes money by producing and selling tin concentrate from its Mpama North operation. Its revenue model is driven by (1) tin production volumes (the quantity of concentrate produced and sold), (2) realized tin prices (linked to g...
Alphamin Resources Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 631.76M | 527.99M | 288.50M | 391.05M | 352.88M |
| Gross Profit | 315.14M | 247.58M | 127.46M | 215.77M | 188.49M |
| EBITDA | 339.47M | 258.11M | 134.09M | 217.89M | 164.55M |
| Net Income | 150.55M | 100.78M | 47.22M | 100.92M | 48.20M |
Balance Sheet | |||||
| Total Assets | 600.59M | 577.78M | 516.76M | 490.10M | 421.15M |
| Cash, Cash Equivalents and Short-Term Investments | 55.99M | 16.80K | 7.16M | 74.70M | 8.25K |
| Total Debt | 44.05M | 73.80M | 80.65M | 9.82M | 21.23M |
| Total Liabilities | 154.26M | 187.71M | 151.25M | 122.70M | 110.42M |
| Stockholders Equity | 380.72M | 333.54M | 312.79M | 320.42M | 274.73M |
Cash Flow | |||||
| Free Cash Flow | 192.38M | 135.37M | -114.56M | 133.18M | 119.68M |
| Operating Cash Flow | 209.62M | 184.46M | 2.33M | 186.63M | 142.19M |
| Investing Cash Flow | -22.60M | -49.40M | -117.22M | -72.76M | -25.53M |
| Financing Cash Flow | -160.14M | -112.54M | 2.66M | -85.12M | -32.58M |
Alphamin Resources Technical Analysis
Positive
1.16
Price Trends
1.26
Positive
1.24
Positive
1.10
Positive
Market Momentum
0.03
Negative
59.80
Neutral
83.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AFM, the sentiment is Positive. The current price of 1.16 is below the 20-day moving average (MA) of 1.19, below the 50-day MA of 1.26, and above the 200-day MA of 1.10, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 59.80 is Neutral, neither overbought nor oversold. The STOCH value of 83.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AFM.
Alphamin Resources Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$3.19B | 21.14 | 41.51% | 0.94% | 8.75% | 196.72% | |
73 Outperform | C$1.87B | 2.33 | 39.07% | 9.17% | 36.51% | 80.51% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | C$1.67B | -8.35 | -231.36% | ― | ― | -184.52% | |
50 Neutral | C$986.00M | -73.38 | -1.62% | ― | ― | 20.78% | |
48 Neutral | C$3.30B | -10.80 | -91.20% | ― | 21.21% | 21.73% | |
47 Neutral | C$1.05B | -14.29 | -110.60% | ― | ― | -69.61% |
* General Sector Average
TSE:AFM
Alphamin Resources
1.46
0.62
72.78%
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Alphamin Resources Corporate Events
Business Operations and StrategyFinancial Disclosures
Alphamin Targets Record Q1 EBITDA as Tin Prices Surge and Exploration Accelerates
Positive
Apr 9, 2026
Alphamin Resources posted record first-quarter 2026 EBITDA guidance of about US$158 million, a 46% jump from the prior quarter, on steady tin output of just over 5,000 tonnes and a 30% rise in realized tin prices to roughly US$49,000 per tonne. Ti...
Business Operations and StrategyDividendsFinancial Disclosures
Alphamin lifts 2025 tin output, EBITDA and dividends as prices surge
Positive
Mar 11, 2026
Alphamin Resources reported a 7% rise in tin output to 18,576 tonnes for 2025 and a 25% jump in EBITDA to US$341m, driven by higher production, a full year of contribution from the Mpama South expansion and a 13% increase in average realized tin p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.