Amex Exploration (AMX) AI Stock Analysis

• Market Cap: C$683.12M
• Dividend Yield: N/A
• Average Volume (3M): 213.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.90
• Revenue Growth: N/A
• EPS Growth: -546.59%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 142,317,430
• 10 Day Avg. Volume: 196,534
• 30 Day Avg. Volume: 213,170
• PEG Ratio: 0.87
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.63
• 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: C$3.75
• Price Target Upside: -26.04% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: C$5.00 ▼(-1.38% Downside)

The score is driven primarily by weak financial performance (pre-revenue, widening losses, and negative free cash flow) partly offset by a strong debt-free balance sheet. Technicals are a positive contributor due to a strong uptrend, though momentum looks overbought. Valuation is constrained by ongoing losses and no dividend support.

Positive Factors

Debt-free balance sheet

Having no debt is a durable strength for an exploration-stage miner: it reduces fixed financing obligations and bankruptcy risk, preserves cash runway flexibility, and allows management to prioritize exploration spending or negotiate JV terms without interest constraints.

Growing equity and asset base

Material growth in equity and assets expands the company’s capacity to fund larger, multi-year exploration programs and technical studies. A larger capital base also strengthens credibility with potential JV partners and supports optioning or project advancement.

Flexible financing model

Reliance on equity issuance and option/JV structures is a structural feature for juniors that preserves operational flexibility: it enables raising exploration capital without fixed interest or principal repayments, facilitating ongoing programs while retaining upside for shareholders.

Negative Factors

Pre-revenue operations

Zero operating revenue is a fundamental constraint: without a production or saleable-resource cash flow, the company must continually raise external capital to sustain exploration and technical work, increasing execution risk and creating uncertainty about eventual commercial returns.

Persistent negative cash flow

Sustained negative operating and free cash flow is a durable weakness: it implies ongoing cash burn and dependence on equity or asset sales to fund operations, which can dilute existing holders and constrain the ability to complete larger drill campaigns or advance studies without further financing.

Worsening profitability and negative returns

Deteriorating net income and negative ROE indicate capital is being deployed without near-term earnings power. For investors and partners this raises questions about project economics and increases the need for successful discovery or asset monetization to generate sustainable returns.

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 situated in Rouyn-Noranda, Quebec. It also holds interest in Lebel-Sur-Quévillon and Eastmain River projects located in the Abitibi region of Quebec and elsewhere in the province. The company was formerly known as Coleraine Mining Resources, Inc. Amex Exploration Inc. is based in Montreal, Canada.

How the Company Makes Money

Amex Exploration makes money primarily through the discovery and development of mineral resources, focusing on gold. The company's revenue model involves identifying potential mineral-rich properties and conducting exploration activities to establish the presence of economically viable mineral deposits. Once these deposits are confirmed, Amex can monetize them through a variety of strategies, such as selling the rights to larger mining companies, entering into joint ventures, or eventually developing the mines themselves for production. Key revenue streams include proceeds from the sale of exploration rights, potential future royalties, and partnerships with other mining entities. Significant factors contributing to its earnings include successful exploration results, strategic partnerships, and favorable market conditions for precious metals.

Amex Exploration Financial Statement Overview

Summary

Amex Exploration reflects the typical financial profile of a gold exploration company, with no revenue generation and reliance on equity financing. The company’s operational and financial metrics show significant operational losses and negative cash flows, with stability provided by strong equity funding. The potential for future profitability hinges on successful exploration outcomes.

Income Statement

Amex Exploration has consistently reported no revenue, which is typical for exploration companies in non-production phases. The company shows persistent negative EBIT and EBITDA, indicating ongoing operational losses. The net profit margin is negative, with net losses reported in the TTM. These metrics suggest the company is heavily reliant on external financing, with no revenue stream to offset operating expenses.

Balance Sheet

The company maintains a healthy balance sheet with no debt, reflected in a debt-to-equity ratio of zero. Stockholders' equity has been increasing, supported by financing activities, which is a positive sign of financial stability. However, the equity ratio shows a high reliance on equity to fund assets, which could pose a risk if financing becomes constrained.

Cash Flow

Amex Exploration shows negative operating and free cash flows, indicating the company is not generating sufficient cash from operations. The negative free cash flow growth suggests increasing capital expenditures, likely for exploration activities. The company relies on financing cash flow, impacting its sustainability if external funding sources are reduced.

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	-98.63K	-200.54K	-186.75K	-135.26K	-101.97K	-49.28K
EBITDA	-4.43M	-2.30M	-2.38M	-3.44M	-3.51M	-4.01M
Net Income	-4.81M	-739.55K	680.17K	142.06K	10.08K	-1.81M
Balance Sheet
Total Assets	173.07M	137.75M	108.92M	111.15M	66.60M	55.53M
Cash, Cash Equivalents and Short-Term Investments	40.20M	13.53M	3.37M	25.78M	12.23M	9.41M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	24.72M	24.81M	19.29M	22.19M	7.66M	11.26M
Stockholders Equity	148.36M	112.94M	89.63M	88.95M	58.95M	44.27M
Cash Flow
Free Cash Flow	-12.42M	-22.50M	-26.99M	-33.74M	-32.98M	-15.09M
Operating Cash Flow	-2.00M	-1.41M	-2.40M	-3.88M	-5.61M	-2.31M
Investing Cash Flow	-23.41M	-30.93M	-16.52M	-33.36M	-27.37M	-10.69M
Financing Cash Flow	43.16M	32.50M	0.00	47.30M	13.41M	32.21M

Amex Exploration Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AMX, the sentiment is Positive. The current price of 5.07 is above the 20-day moving average (MA) of 4.22, above the 50-day MA of 3.62, and above the 200-day MA of 2.28, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 73.01 is Negative, neither overbought nor oversold. The STOCH value of 84.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AMX.

Amex Exploration 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%
AMX	60 Neutral	C$683.12M	-129.01	-3.72%	―	―	-546.59%
JAG	56 Neutral	C$717.90M	-31.39	-5.98%	―	-5.94%	-153.35%
TAU	54 Neutral	C$705.20M	-179.75	-1.82%	―	―	-251.92%
MAI	48 Neutral	C$667.71M	-8.34	-180.41%	―	119.95%	-79.81%
ITH	47 Neutral	C$642.37M	―	-7.47%	―	―	-26.52%
FDR	46 Neutral	C$551.64M	-44.02	―	―	―	46.54%

Amex Exploration Corporate Events

Amex Exploration Expands Land Holdings with Ontario Acquisition

Amex Exploration Inc. has completed the acquisition of the Abbotsford and Hepburn Projects in Ontario, adding 324 non-contiguous mining claims over 8,392.92 hectares to its portfolio. This acquisition enhances Amex’s district-scale land package, which now covers 501.08 km², and positions the company favorably within highly prospective geology for high-grade gold and VMS mineralization. The expanded property benefits from excellent infrastructure, including proximity to major gold producers’ process plants, potentially boosting Amex’s operational capabilities and market positioning.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Boosts Community Engagement for Perron Project

Amex Exploration has enhanced its community engagement efforts as it advances the Perron Project, a significant gold exploration initiative in Quebec. The company has opened local offices in Valcanton and Normétal, launched a community website, and expanded its community relations team to facilitate transparent communication with local stakeholders. These efforts aim to strengthen relationships with the communities and ensure that development proceeds responsibly and collaboratively.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Expands Land Holdings in Abitibi Region

Amex Exploration Inc. has significantly expanded its land holdings in the Abitibi region by acquiring the Abbotsford and Hepburn projects, as well as additional claims, increasing its control to 500 km2. This strategic move positions Amex as one of the largest landholders in the area, enhancing its potential for gold and VMS discoveries along the Normétal-Burntbush greenstone belt. The acquisitions are expected to create synergies with existing projects and provide new exploration opportunities, potentially impacting the company’s market positioning and stakeholder interests.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Grants Stock Options and Restricted Share Units

Amex Exploration Inc. has announced the granting of 3,250,000 incentive stock options and 2,026,000 restricted share units to certain directors, officers, employees, and consultants. Each option allows the acquisition of a common share at $2.85 per share for five years, while the restricted share units vest in three equal tranches over three years. These allocations are part of the company’s comprehensive stock incentive plan, approved by shareholders, and are subject to a four-month and one-day hold period as per TSX Venture Exchange policies. This move is likely to enhance stakeholder alignment and incentivize key personnel, potentially impacting the company’s operational and strategic positioning in the competitive mining industry.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Grants Stock Options and Restricted Share Units

Amex Exploration Inc. has announced the grant of 3,250,000 incentive stock options and 2,026,000 restricted share units to its directors, officers, employees, and consultants. These grants are part of the company’s omnibus equity incentive plan, which was approved by shareholders earlier this year. This move is expected to align the interests of the company’s stakeholders and enhance its operational focus on its promising gold and VMS mineralization projects.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Plans Extensive Drilling to Boost Gold Resources

Amex Exploration Inc. has announced plans for an extensive 2026 exploration program, which includes up to 100,000 meters of drilling at its Perron Project in Quebec and Perron West Project in Ontario. This initiative is part of one of the most aggressive drill programs for a junior developer in Canada, aiming to expand the existing resource base and explore new targets. The remainder of 2025 will focus on a 10,000-meter drilling program at the Eastern Gold Zone, with goals to test extensions of various zones, including the Champagne, Team, and Central Polymetallic Zones. The company is also planning condemnation drilling in the Alizée Zone to ensure no significant gold mineralization extends to the surface, which could impact the current mine plan.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Wins Discovery of the Year Award for Perron Gold Property

Amex Exploration Inc. has been awarded the Discovery of the Year by the Quebec Mineral Exploration Association for its significant discovery at the Perron Gold Property in Quebec’s Abitibi Greenstone Belt. This recognition underscores the project’s geological significance and economic potential, which has spurred increased exploration interest and investment in the region. The Perron discovery, featuring high-grade gold zones like the Champagne Zone, has positioned Amex as a leading player in Quebec’s mining industry, with a robust mineralized gold system and promising economic assessments indicating substantial returns and rapid payback.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Reports Record High-Grade Gold Assay at Perron Project

Amex Exploration Inc. has announced significant assay results from its geomechanical drill program at the Champagne Zone of the Perron Project. The program, part of the Phase 1 Feasibility Study, revealed a high-grade assay of 213.11 g/t Au over 3.75 meters, marking the highest grade recorded on the property. These results underscore the robustness and continuity of mineralization in the zone, which is crucial for the project’s development. The data collected will inform the stope dimensions and mining rate for future operations, enhancing the project’s feasibility and potential for stakeholders.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.

Amex Exploration Files Updated PEA for Perron Gold Project

Amex Exploration Inc. has filed an updated Preliminary Economic Assessment (PEA) for its Perron gold project in Québec, Canada. The updated PEA incorporates the latest Mineral Resource Estimate and a new project development strategy, aiming to derisk the project and accelerate revenue generation. The project is divided into two phases, with Phase 1 involving a low-cost, contract mining operation, and Phase 2 transitioning to an owner-operated mine with an on-site processing facility. The PEA outlines significant economic potential with a life of mine of 17.5 years, an average annual production of 95,000 oz of gold, and a pre-tax net present value of $1,885M. However, the PEA is preliminary and includes inferred mineral resources, which require further drilling to confirm economic viability.

The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$2.80 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.