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AEX Gold, Inc. (TSE:AMRQ)
:AMRQ
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AEX Gold
(AMRQ)
41Neutral
AEX Gold (AMRQ) vs. S&P 500 (SPY)
Market Cap
C$621.74M
Dividend YieldN/A
Average Volume (3M)91.34K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue GrowthN/A
EPS Growth-2270.97%
CountryCA
Employees22
SectorBasic Materials
Sector Strength59
IndustryGold
Share Statistics
EPS (TTM)-0.07
Shares Outstanding401,120,600
10 Day Avg. Volume23,715
30 Day Avg. Volume91,343
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.29Price Target Upside47.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
AEX Gold Business Overview & Revenue Model
Company DescriptionAEX Gold, Inc. (AMRQ) is a mineral exploration company focused on the identification and development of gold assets in Greenland. The company primarily operates within the mining sector, with its core activities centered around the exploration and development of gold properties. AEX Gold aims to leverage its extensive experience and strategic positioning in Greenland to create value through the discovery and development of high-grade gold resources.
How the Company Makes MoneyAEX Gold, Inc. makes money primarily through the exploration, development, and eventual production of gold from its mining assets. The company's revenue model is built on successfully identifying gold resources, developing these assets to a stage where they can be mined, and then extracting and selling the gold. Key revenue streams include the sale of gold produced from its mining operations and potential partnerships or joint ventures with other mining companies to develop its properties. The company's earnings are significantly influenced by the price of gold in the global market, operational efficiencies, and its ability to successfully manage exploration and production activities. Additionally, strategic partnerships and financing agreements play a crucial role in funding exploration and development projects, which are critical to the company's operational success and profitability.
AEX Gold Financial Statement Overview
Summary
AEX Gold, Inc. faces substantial challenges with no revenue generation and continuous net losses. While the balance sheet reflects good liquidity and low leverage, the lack of profitability and negative cash flows pose significant risks. Operational improvements and revenue generation are crucial for future stability and growth.Income Statement
AEX Gold, Inc. shows significant challenges in its income statement. The company has not generated any revenue over the years, with persistent negative gross profit indicating that production or operational costs are not being covered. The net income has been consistently negative, and the EBIT has been volatile, suggesting operating inefficiencies. Furthermore, the EBITDA margin is negative, highlighting underlying operational struggles.―
Balance Sheet
The balance sheet of AEX Gold, Inc. reflects moderate financial stability. The company has a strong cash position, as seen in the significant cash holdings compared to its total debt, resulting in a negative net debt. The debt-to-equity ratio is low, indicating low leverage, which might be beneficial in downturns. However, the return on equity is negative due to continuous losses, and the equity ratio shows that a substantial portion of the assets is financed by equity.65
Cash Flow
The cash flow statement reveals some concerns about financial health. Operating cash flow is consistently negative, indicating inadequate cash generation from core operations. The free cash flow is also negative, suggesting the company is not generating sufficient cash to cover capital expenditures. However, the company has managed to maintain cash through financing activities, but sustainability is uncertain without operational improvements.―
| Breakdown | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| -2.52M | -850.70K | -90.18K | -22.11K | -181.17K | EBIT |
| 22.50M | 22.10M | -24.79M | 12.51M | -5.13M | EBITDA |
| -22.07M | -21.01M | -23.67M | -11.18M | -4.92M | Net Income Common Stockholders |
| -833.51K | -21.15M | -24.73M | -12.44M | -5.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 21.01M | 50.14M | 27.32M | 61.87M | 1.52M | Total Assets |
| 106.95M | 65.10M | 42.78M | 65.94M | 2.72M | Total Debt |
| 36.40M | 729.24K | 763.91K | 829.81K | 0.00 | Net Debt |
| 15.39M | -49.41M | -26.56M | -61.05M | -1.52M | Total Liabilities |
| 42.67M | 1.87M | 2.81M | 1.66M | 645.93K | Stockholders Equity |
| 64.28M | 63.23M | 39.97M | 64.28M | 2.07M |
| Cash Flow | Free Cash Flow | |||
| -58.49M | -21.20M | -34.17M | -10.31M | -4.35M | Operating Cash Flow |
| -34.19M | -20.87M | -22.29M | -9.87M | -4.16M | Investing Cash Flow |
| -24.47M | -261.97K | -11.88M | -2.15M | -196.55K | Financing Cash Flow |
| 29.36M | 43.06M | -65.90K | 73.55M | 4.92M |
AEX Gold Technical Analysis
Negative
1.55
Price Trends
1.66
Negative
1.79
Negative
1.52
Positive
Market Momentum
-0.02
Negative
45.47
Neutral
1.08
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AMRQ, the sentiment is Negative. The current price of 1.55 is above the 20-day moving average (MA) of 1.54, below the 50-day MA of 1.66, and above the 200-day MA of 1.52, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 45.47 is Neutral, neither overbought nor oversold. The STOCH value of 1.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:AMRQ.
AEX Gold Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | C$2.95B | 19.06 | 26.82% | ― | 77.93% | 236.93% | |
74 Outperform | $5.19B | 11.33 | 8.91% | ― | 41.46% | 187.54% | |
70 Outperform | $5.94B | 266.64 | 1.33% | 0.81% | 6.02% | ― | |
68 Neutral | $3.38B | 174.92 | 1.00% | 0.68% | -0.35% | -65.11% | |
66 Neutral | $5.38B | ― | -18.54% | 4.78% | -0.18% | -2195.85% | |
49 Neutral | $1.95B | -1.27 | -21.38% | 3.72% | 0.83% | -29.30% | |
41 Neutral | C$621.74M | ― | -17.67% | ― | ― | -2270.97% |
* Basic Materials Sector Average
Performance Comparison
TSE:AMRQ
AEX Gold
1.58
0.36
29.51%
TSE:SSL
Sandstorm Gold
11.81
4.19
55.03%
TSE:OR
Osisko Gold Royalties
32.61
11.48
54.32%
TSE:BTO
B2Gold
4.19
0.89
26.78%
TSE:ELD
Eldorado Gold
25.27
5.11
25.35%
TSE:KNT
K92 Mining
12.83
5.17
67.49%
AEX Gold Earnings Call Summary
Earnings Call Date:Mar 28, 2025
(Q3-2024)
| % Change Since: -12.43%|
Next Earnings Date:May 14, 2025
Earnings Call Sentiment Positive
The earnings call presented significant progress in the development of the Nalunaq mine with imminent first gold production and strategic agreements. However, higher operational costs and pending resource updates indicate ongoing challenges. The overall sentiment is positive due to the outweighing achievements and strategic advancements.Q3-2024 Updates
Positive Updates
Nalunaq Mine Development Progress
The processing plant Phase 1 is ready and has been tested. Mining has been ongoing since May, with stockpiling of ore and ramping up development and mining activities.
First Gold Production Imminent
First gold production from the Nalunaq mine is imminent, with an offtake agreement signed with Auramet and Metalor to buy all the gold at market.
Completion of Exploration Season
Exploration season was completed ahead of schedule and under budget, with more drilling than anticipated.
Improvement in Mining Rate
Development rate in mining has doubled during September and October after bringing on a technical mining team.
Environmental and Strategic Initiatives
Progress on a hydro project feasibility study to save CAD 2 million annually by reducing diesel usage.
Negative Updates
Higher Operational Costs
Costs in Greenland remain higher than in Canada and Norway, with ongoing efforts to reduce them.
Lost Time Injury Incidents
The company reported 5 lost time injuries, primarily due to minor accidents.
Pending Resource Estimate Update
Awaiting results from drilling to update the measured resource estimate in Q1 next year.
Company Guidance
During the Q3 2024 earnings call for Amaroq Minerals, the executives provided several key metrics and guidance for the company's future. The processing plant for the Nalunaq mine has completed Phase 1, which has been tested, and mining has been ongoing since May, with ore stockpiling continuing as development ramps up. The company is focusing on ramping up gold production from 130 tonnes per day to 300 tonnes per day, with an estimated recovery rate increasing from 70% to 94% by the end of next year. The expected grade of the gold is between 12 grams to 16 grams per tonne. Financially, Amaroq completed capital asset investments of CAD 32 million this quarter and increased their environmental escrow account to CAD 6.9 million. They have a cash balance of CAD 26 million and drew CAD 25 million on construction loan facilities. Additionally, the strategic minerals exploration is ongoing with targets in copper and nickel, and Amaroq's exploration costs are reducing closer to industry standards in the Nordics and Arctic Canada. The company is also focusing on renewable energy initiatives to reduce dependency on diesel and save costs. They anticipate saving CAD 2 million annually through planned hydroelectric projects, and they aim to improve logistics and servicing efficiencies in Greenland.AEX Gold Corporate Events
Business Operations and Strategy
Amaroq Minerals Updates Market Making Arrangements and Terminates Agreement with Fossar
Neutral
May 4, 2025
Amaroq Minerals Ltd. announced an amendment to its market making agreement with Arion Bank, introducing a two-part structure for daily bid and ask quotes for its Depository Receipts. This adjustment aims to maintain competitive bid-ask spreads and allows flexibility in response to significant price changes. Additionally, Amaroq terminated its market making agreement with Fossar fjárfestingabanki hf., effective May 7, 2025, which may impact its market operations and stakeholder engagements.
Spark’s Take on TSE:AMRQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:AMRQ is a Neutral.
AEX Gold, Inc. has a low overall stock score due to significant financial challenges, including no revenue generation and persistent losses. Technical analysis indicates limited momentum, while valuation metrics are unattractive. Despite positive corporate events, overall risks remain high without substantial operational improvements.
To see Spark’s full report on TSE:AMRQ stock, click here.
Business Operations and Strategy
Amaroq Minerals Management Increases Ownership and Announces RSU Vesting
Positive
Apr 8, 2025
Amaroq Minerals Ltd. announced an increase in share ownership by its management team, alongside the vesting of 3,329,704 Restricted Share Units (RSUs) as part of their RSU Plan. This development reflects the company’s commitment to align management interests with shareholder value, potentially enhancing its market position and signaling confidence in its strategic direction.
Spark’s Take on TSE:AMRQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:AMRQ is a Neutral.
AEX Gold, Inc. is currently facing substantial financial difficulties with no revenue and persistent losses, contributing to a weak financial performance score. The stock’s bearish technical trends and poor valuation metrics further underscore the challenges. However, strategic advancements in the Nalunaq mine offer a glimmer of hope for future improvements, albeit with ongoing risks.
To see Spark’s full report on TSE:AMRQ stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.