Amarc Resources (AHR) AI Stock Analysis

• Market Cap: C$281.66M
• Dividend Yield: N/A
• Average Volume (3M): 920.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.81
• Revenue Growth: N/A
• EPS Growth: -267.65%
• Country: CA
• Employees: 10
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): <0.01
• Shares Outstanding: 225,327,360
• 10 Day Avg. Volume: 381,007
• 30 Day Avg. Volume: 920,050
• PEG Ratio: >-0.01
• Price to Book (P/B): -139.18
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.90
• 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: 53 Neutral
• Price Target: C$1.50 ▲(5.63% Upside)

The score is held down primarily by weak financial performance (no meaningful revenue base, persistent losses, negative equity, and a recent cash-flow deterioration). Offsetting this, technicals show strong upward momentum with the stock trading above key moving averages, and corporate updates around deposit expansion and partner-backed drilling are positive; however, negative earnings also limit valuation support.

Positive Factors

Partner-backed exploration (Freeport support)

Ongoing Freeport funding and partner-backed drilling materially de-risks capital intensity of exploration. A tier-one partner providing funding and technical support improves chances to advance projects, accelerates delineation, and can enable district-scale development without sole reliance on equity markets.

Focused large-scale copper-gold asset strategy

A clear strategic focus on copper-gold district-style systems aligns the company with structurally attractive commodities and scalable discoveries. Specialization in large-system exploration leverages technical expertise and increases the chance that successful drilling translates into high-value resources and meaningful partner interest over time.

Multiple financing pathways (equity, JVs, royalties)

A diversified funding toolkit (equity, earn-ins, asset sales, royalties, milestone payments) provides structural flexibility to fund exploration cycles. This reduces single-source dependency, allows non-dilutive partner funding on projects, and supports sustained activity through different commodity-cycle environments.

Negative Factors

No meaningful revenue base

Absence of operating revenue and recurring operating losses mean the company cannot self-fund exploration or overhead from operations. Over months this forces continual reliance on external capital or partner deals, increasing dilution risk and making long-term project advancement contingent on successful financings or JV terms.

Negative equity and fragile capital structure

Recurrent negative equity indicates a fragile balance sheet that weakens creditor and investor confidence. Structurally, negative shareholders' equity constrains access to debt financing, raises cost of capital, and reduces leeway to absorb further write-downs or funding shortfalls over the coming months.

Sharp cash-flow deterioration and higher burn

A pronounced shift to negative operating and free cash flow signals rising cash burn and funding pressure. Sustainably advancing exploration programs will likely require frequent external financing or partner funding; persistent cash deficits increase execution risk and can delay or curtail resource definition work.

Amarc Resources Business Overview & Revenue Model

Company Description

Amarc Resources Ltd. engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for copper, gold, silver, and molybdenum deposits. It holds 100% interest in the IKE project covering an area of 462 square kilometers located in the Gold Bridge, south-central British Columbia; the DUKE project covering an area of 704 square kilometers located northeast of Smithers, central British Columbia; and the JOY project covering an area of 482 square kilometers located in the Toodoggone region of north-central British Columbia. The company was formerly known as Patriot Resources Ltd. and changed its name to Amarc Resources Ltd. in January 1994. The company was incorporated in 1993 and is based in Vancouver, Canada.

How the Company Makes Money

Amarc Resources makes money primarily through the exploration and potential development of mineral deposits, particularly copper and gold. The company generates revenue by securing mineral rights and conducting exploration activities to identify promising sites for mining. Key revenue streams include the sale or joint development of mineral properties with other mining companies, royalties from developed mines, and potential production revenues if they bring a mine into operation. Significant partnerships with larger mining companies can also contribute to earnings, as these partnerships often provide funding for exploration activities and technical expertise. Additionally, the company may earn income from the sale of any discovered mineral resources or through strategic alliances and agreements with other resource firms.

Amarc Resources Financial Statement Overview

Summary

Financial statements indicate very weak fundamentals: essentially no revenue base, recurring operating losses, and a sharp deterioration in operating/free cash flow in the most recent year. Balance sheet risk is elevated with negative equity again in 2025, implying a fragile capital structure despite only moderate absolute debt.

Income Statement

The company reports essentially no revenue across the annual periods provided, with consistently negative operating results (EBIT is deeply negative in most years and worsened again in 2025). Net income is also generally negative, with the lone profitable year (2021) not sustained. Overall, profitability and earnings quality look weak and highly volatile, with limited evidence of an improving trajectory.

Balance Sheet

Balance sheet strength is mixed and unstable. Equity has swung between positive and negative, including negative equity again in 2025, which increases financial risk and makes leverage harder to interpret in a traditional way. Debt is moderate in absolute terms, but with negative equity and fluctuating asset levels, the capital structure looks fragile and less resilient to ongoing losses.

Cash Flow

Cash flow generation has been inconsistent, moving from positive operating/free cash flow in 2023–2024 to a sharp deterioration in 2025 (large negative operating and free cash flow). This suggests a higher cash burn profile and potential reliance on external funding if conditions persist. While prior years show the business can generate cash at times, the most recent trend is unfavorable.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-10.09K	-20.18K	-20.18K	-20.18K	-18.49K	0.00
EBITDA	-3.34M	-3.54M	-13.65M	119.31K	-160.51K	1.53M
Net Income	-3.47M	-3.91M	-43.45K	-32.58K	-364.00K	1.36M
Balance Sheet
Total Assets	4.88M	1.88M	9.84M	6.09M	991.83K	1.56M
Cash, Cash Equivalents and Short-Term Investments	4.05M	1.23M	9.05M	5.27M	682.08K	1.33M
Total Debt	1.00M	995.07K	837.15K	720.91K	734.67K	570.00K
Total Liabilities	6.00M	2.69M	8.02M	6.56M	1.62M	1.53M
Stockholders Equity	-1.12M	-809.72K	1.83M	-465.44K	-628.42K	26.94K
Cash Flow
Free Cash Flow	-2.18M	-8.73M	1.11M	4.81M	-237.30K	-191.00K
Operating Cash Flow	-2.18M	-8.73M	1.11M	4.81M	-237.30K	-191.00K
Investing Cash Flow	0.00	0.00	0.00	1.69K	0.00	300.00K
Financing Cash Flow	954.64K	937.97K	2.77M	-47.86K	300.00K	-50.10K

Amarc Resources Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.42
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AHR, the sentiment is Negative. The current price of 1.42 is below the 20-day moving average (MA) of 1.42, above the 50-day MA of 1.30, and above the 200-day MA of 0.95, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.93 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AHR.

Amarc Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MMA	54 Neutral	C$271.49M	-30.60	-36.30%	―	―	-135.80%
AHR	53 Neutral	C$281.66M	-100.00	-385.36%	―	―	-267.65%
GPH	53 Neutral	C$386.80M	-27.45	-12.80%	―	―	-15.48%
DBG	50 Neutral	C$274.82M	-124.49	-5.12%	―	―	47.32%
TSK	49 Neutral	C$337.76M	-11.88	-319.01%	―	―	30.83%
TDG	43 Neutral	C$225.05M	-12.01	-40.36%	―	―	-109.66%

Amarc Resources Corporate Events

Amarc, Freeport Extend High-Grade AuRORA Copper-Gold-Silver Deposit in BC’s JOY District

Amarc Resources and joint venture partner Freeport are continuing to expand the high-grade, near-surface AuRORA copper-gold-silver deposit in the JOY District, with 2025 drilling extending mineralization to cover an area of 1.4 km by 0.8 km and the deposit remaining open to further growth in multiple directions. New drill results, including step-out and scout holes to the north, east, southeast and northeast, demonstrate that significant mineralization extends beyond previously defined geophysical targets, suggesting larger upside potential for both the AuRORA Deposit and the broader JOY District, and reinforcing management’s view that the project could underpin the emergence of a major porphyry copper-gold camp in British Columbia.

The most recent analyst rating on (TSE:AHR) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Amarc Resources stock, see the TSE:AHR Stock Forecast page.

Amarc Resources to Spotlight High-Grade AuRORA Discovery at Major 2026 Mining Conferences

Amarc Resources has announced a slate of conference appearances through early 2026 to showcase its recent exploration progress, particularly the high-grade AuRORA copper-gold-silver discovery in British Columbia’s JOY District. Senior executives and technical staff will attend the Vancouver Resource Investment Conference, AME Roundup, BMO Capital Markets’ Global Metals, Mining & Critical Minerals Conference, and PDAC 2026, where Amarc will host booths, present core samples and deliver technical presentations, aiming to raise its profile with investors and industry peers and underline the strategic significance of AuRORA within its growing copper-gold district portfolio.

The most recent analyst rating on (TSE:AHR) stock is a Sell with a C$1.50 price target. To see the full list of analyst forecasts on Amarc Resources stock, see the TSE:AHR Stock Forecast page.

Amarc Deepens AuRORA Discovery as Majors Fund District-Scale Copper-Gold Push in BC

Amarc Resources reported a transformative 2025, highlighted by continued drilling success at its AuRORA Deposit within the JOY copper-gold district in British Columbia’s Toodoggone-Kemess region, where step-out drilling significantly expanded the known mineralized footprint and reinforced its potential as a Tier One porphyry copper-gold asset. Backed by major partners Freeport-McMoRan and Boliden, which together are funding up to $200 million across the JOY and DUKE districts, Amarc advanced a pipeline of high-demand copper-gold projects through expanded drilling, technical studies and district-scale planning, strengthening its strategic position and paving the way for potential future transactions and development decisions.

The most recent analyst rating on (TSE:AHR) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Amarc Resources stock, see the TSE:AHR Stock Forecast page.

Amarc Resources Expands High-Grade AuRORA Deposit, Signaling Major Growth Potential

Amarc Resources, in collaboration with Freeport, has announced significant assay results from its 2025 drill program at the AuRORA Deposit in the JOY District. The drilling has successfully expanded the deposit’s boundaries, indicating a potential Tier One asset with high-grade copper-gold-silver mineralization. The expansion includes a 200-meter extension to the north and further growth to the east and southeast. This development positions Amarc to potentially establish a world-class porphyry copper-gold district, enhancing its industry standing and offering promising prospects for stakeholders.