Amex Exploration Inc (TSE:AMX)
:AMX
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Amex Exploration
(AMX)
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Rating:56Neutral
Price Target:
C$4.50
▼(-12.79% Downside)
Action:Reiterated
Date:04/23/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and persistent negative free cash flow), partially offset by a strong, debt-free balance sheet. Technicals are supportive with the stock trading above major moving averages and a positive MACD, but overextended momentum signals add risk. Valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces solvency and refinancing risk for an exploration company. This structural strength lowers fixed obligations, preserves flexibility to time equity raises or JV deals, and improves resilience through long multi-year exploration cycles.
Negative Factors
No Revenue; Widening Losses
As a non‑producing exploration entity with no revenue and growing operating losses, Amex cannot self-fund project advancement. Long-term value hinges on successful discovery, asset sale, or partner financing, raising execution and outcome dependency rather than operational cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces solvency and refinancing risk for an exploration company. This structural strength lowers fixed obligations, preserves flexibility to time equity raises or JV deals, and improves resilience through long multi-year exploration cycles.
Read all positive factors
Amex Exploration (AMX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$657.09M
Dividend YieldN/A
Average Volume (3M)213.17K
Price to Earnings (P/E)―
Beta (1Y)2.48
Revenue GrowthN/A
EPS Growth-1339.53%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.06
Shares Outstanding142,846,680
10 Day Avg. Volume196,534
30 Day Avg. Volume213,170
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)3.57
Price to Sales (P/S)0.00
P/FCF Ratio-33.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$6.63Price Target Upside28.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.02
Revenue Forecast (FY)N/A
Amex Exploration Business Overview & Revenue Model
Company Description
Amex Exploration Inc., a junior mining exploration company, acquires, explores, and develops gold projects in Canada. Its flagship property is the 100% owned Perron gold project that consists of 117 mining claims covering an area of 4,836 hectares...
How the Company Makes Money
Amex Exploration does not typically generate recurring operating revenue because it is an exploration-stage company. Instead, it funds its activities primarily through capital raising (e.g., equity financings such as private placements or public o...
Amex Exploration Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -200.54K | -186.75K | -135.26K | -101.97K |
| EBITDA | -10.31M | -2.30M | -2.38M | -3.44M | -3.51M |
| Net Income | -8.74M | -739.55K | 680.17K | 142.06K | 10.08K |
Balance Sheet | |||||
| Total Assets | 174.59M | 137.75M | 108.92M | 111.15M | 66.60M |
| Cash, Cash Equivalents and Short-Term Investments | 32.60M | 13.53M | 3.37M | 25.78M | 12.23M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 29.41M | 24.81M | 19.29M | 22.19M | 7.66M |
| Stockholders Equity | 145.18M | 112.94M | 89.63M | 88.95M | 58.95M |
Cash Flow | |||||
| Free Cash Flow | -15.28M | -22.50M | -26.99M | -33.74M | -32.98M |
| Operating Cash Flow | -3.62M | -1.41M | -2.40M | -3.88M | -5.61M |
| Investing Cash Flow | -11.22M | -30.93M | -16.52M | -33.36M | -27.37M |
| Financing Cash Flow | 36.91M | 32.50M | 0.00 | 47.30M | 13.41M |
Amex Exploration Technical Analysis
Neutral
5.16
Price Trends
4.45
Positive
4.48
Positive
3.68
Positive
Market Momentum
0.05
Positive
42.36
Neutral
8.82
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AMX, the sentiment is Neutral. The current price of 5.16 is above the 20-day moving average (MA) of 4.94, above the 50-day MA of 4.45, and above the 200-day MA of 3.68, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 42.36 is Neutral, neither overbought nor oversold. The STOCH value of 8.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:AMX.
Amex Exploration Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | C$945.17M | -64.16 | -2.73% | ― | ― | -186.75% | |
56 Neutral | C$657.09M | -17.74 | -6.72% | ― | ― | -1339.53% | |
56 Neutral | C$691.48M | -8.61 | -63.51% | ― | 922.22% | 97.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | C$582.04M | -61.45 | -10.51% | ― | ― | 0.39% | |
51 Neutral | C$920.96M | 64.27 | -1.98% | ― | ― | 46.12% | |
49 Neutral | C$530.76M | 23.65 | -3.94% | ― | -0.97% | -40.86% |
* General Sector Average
TSE:AMX
Amex Exploration
4.57
3.22
238.52%
TSE:ITH
International Tower Hill Mines
3.39
2.23
192.24%
TSE:TAU
Thesis Gold Inc
3.40
2.32
214.81%
TSE:MAI
Minera Alamos
6.82
3.17
86.85%
TSE:JAG
Jaguar Mining
6.41
2.84
79.55%
TSE:FDR
Founders Metals
5.02
0.45
9.85%
Amex Exploration Corporate Events
Business Operations and Strategy
Amex Exploration Launches 15,000 m Perron West Drill Program and Expands European Investor Outreach
Positive
Apr 16, 2026
Amex Exploration has begun a 15,000-metre maiden drill program at its Perron West Project in Ontario, with the first of two drill rigs now operating and a second rig expected shortly, complementing ongoing drilling at the original Perron Project i...
Business Operations and StrategyFinancial Disclosures
Amex Exploration Posts Strong Feasibility Study for Low-Cost Perron Gold Mine Phase 1
Positive
Apr 13, 2026
Amex Exploration has delivered a positive Phase 1 feasibility study for its 100%-owned Perron Gold Mine in Quebec, outlining a low-cost, high-grade underground operation using toll milling of the Champagne Zone. The plan forecasts average annual p...
Business Operations and Strategy
Amex Tightens Champagne Zone Model With High-Grade Bulk Sample Drilling
Positive
Mar 31, 2026
Amex Exploration has reported the final results from its grade control drilling program for the planned bulk sample at the Champagne Zone of its Perron project, confirming high-grade gold intercepts and tighter drill spacing. The company will now ...
Business Operations and StrategyRegulatory Filings and Compliance
Amex Secures Key Permits and Funding to Advance Perron Bulk Sample Program
Positive
Mar 30, 2026
Amex Exploration Inc., a Canadian mineral exploration company, has secured the main governmental permits and completed the required financial guarantee to advance a 40,000-tonne underground bulk sampling program at its Perron gold project in Quebe...
Business Operations and Strategy
Amex Exploration Secures Key Permits to Launch Perron Bulk Sample Program
Positive
Mar 30, 2026
Amex Exploration has secured key Quebec governmental permits and completed the required financial guarantee to advance a 40,000-tonne underground bulk sample at its Perron gold project near Normétal. With these approvals, the company can move...
Business Operations and Strategy
Amex Wins Ontario Drill Permit and Launches 15,000 m Perron West Program
Positive
Mar 25, 2026
Amex Exploration has secured an Ontario drill permit and outlined a 15,000-metre inaugural drill program at its 100%-owned Perron West project, marking its first major campaign on the Ontario side of the Normétal-Burntbush greenstone belt tha...
Business Operations and StrategyM&A Transactions
Amex Exploration Options Ontario Gold Properties to Expand Perron Land Position
Positive
Mar 13, 2026
Amex Exploration Inc. has entered into an option agreement to acquire a 100% interest in 216 unpatented mining claims across the Noseworthy, Newman and Hepburn townships in Ontario, covering about 11,600 hectares. The Newman property includes mult...
Business Operations and StrategyRegulatory Filings and Compliance
Amex Advances Perron Project With Water Plant Order and Environmental Study Mandate
Positive
Mar 12, 2026
Amex Exploration has ordered a water treatment plant from Abitibi-based ASDR and engaged Norda Stelo to begin an Environmental Impact Assessment for Phase 1 of its Perron Project. The water treatment plant will support the upcoming bulk sample pro...
Business Operations and Strategy
Amex Exploration Strikes Key Exploration Pact With Apitipi Anicinapek Nation in Ontario
Positive
Mar 2, 2026
Amex Exploration Inc., a Canadian mineral exploration company, is focused on high-grade gold and copper-rich VMS targets within the Abitibi Greenstone Belt, anchored by its 100%-owned Perron Gold Project in Quebec. The company’s consolidated...
Business Operations and Strategy
Amex Exploration Strikes Exploration Pact with Apitipi Anicinapek Nation in Ontario
Positive
Mar 2, 2026
Amex Exploration has signed an Exploration Agreement with the Apitipi Anicinapek Nation covering its Perron West, Abbotsford, and Hepburn projects in Northeastern Ontario, establishing a framework for collaboration on a 436.78 km² district-sc...
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.