Andean Precious Metals (APM) AI Stock Analysis

• Market Cap: C$1.48B
• Dividend Yield: N/A
• Average Volume (3M): 359.98K
• Price to Earnings (P/E): 5.1
• Beta (1Y): 3.30
• Revenue Growth: 33.21%
• EPS Growth: 47.22%
• Country: CA
• Employees: 501
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Silver
• EPS (TTM): 0.53
• Shares Outstanding: 149,794,400
• 10 Day Avg. Volume: 395,202
• 30 Day Avg. Volume: 359,976
• PEG Ratio: -0.12
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 3.57
• 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): 1.13
• Revenue Forecast (FY): C$561.00M

• Rating: 78 Outperform
• Price Target: C$11.00 ▲(21.95% Upside)
• Action: Reiterated Date: 01/24/26
• Date: Action: Reiterated 01/24/26

The score is driven primarily by strong underlying financial performance (profitability and balance sheet strength) and supportive bullish technical trends. Valuation is only moderate due to the P/E level and no dividend yield data, while the latest earnings call was broadly positive but tempered by production challenges and lower-end production guidance.

Positive Factors

High margins & profitability

Sustained high gross and EBITDA margins indicate structurally efficient mining operations and cost control. Margins near these levels provide buffer through commodity cycles, support reinvestment and debt service, and imply the company converts production into durable operating profit over time.

Solid balance sheet

Low leverage and a strong equity ratio give Andean financial flexibility to fund exploration, absorb production variability, and pursue opportunistic financing. A sound capital structure reduces refinancing risk and supports multi‑year mine development and operating continuity.

Reliable San Bartolome production

High, consistent output from San Bartolome and strong site gross margins underpin predictable midterm metal supply. That operational backbone supports revenue stability, funds exploration to extend mine life, and strengthens the company's long‑term production profile.

Negative Factors

Declining free cash flow growth

A fall in free cash flow growth constrains internal funding for capex, exploration, and debt reduction. Over several quarters weaker FCF growth reduces optionality, may force external financing at inopportune times, and limits capacity to smooth production cycles.

Golden Queen operational risk

Operational timing and leach-cycle issues at Golden Queen show site-level execution risk that can depress consolidated output. Recurring technical problems lengthen payback periods for investments and can keep consolidated production at the low end of guidance for multiple quarters.

Commodity price exposure

Revenue and margins are inherently tied to silver and gold price cycles. Structural commodity volatility can produce prolonged revenue and cashflow swings, complicating multi‑year planning, capital allocation, and making earnings more sensitive to external market shocks.

Andean Precious Metals Business Overview & Revenue Model

Company Description

Andean Precious Metals Corp. engages in the acquisition, exploration, development, and processing of mineral resource properties in the United States. The company primarily explores for silver and gold deposits. It holds 100% interest in San Bartolomé project in Bolivia; and the Soledad Mountain mine and heap leach located in Kern County, California. The company was incorporated in 2018 and is based in Toronto, Canada. Andean Precious Metals Corp. operates as a subsidiary of PMB Partners LP.

How the Company Makes Money

Andean Precious Metals generates revenue primarily through the sale of precious metals, particularly silver and gold, extracted from its mining operations. The company employs a revenue model that includes direct sales of metals to wholesalers and traders in the precious metals market. Key revenue streams are derived from the production of high-grade ore, which commands a premium price due to its quality. Additionally, APM may engage in strategic partnerships with other mining firms and financial institutions to enhance its operational efficiency and access broader markets. Factors contributing to its earnings include fluctuating market prices for silver and gold, the efficiency of its mining operations, and cost management strategies that optimize production expenses.

Andean Precious Metals Financial Statement Overview

Summary

Strong profitability and margins (TTM net margin 15.15%, EBITDA margin 32.03%) and a solid balance sheet (debt-to-equity 0.29, equity ratio 60.84%) support the score. The main offset is weaker cash flow momentum, with TTM free cash flow growth down 10.32%.

Income Statement

Andean Precious Metals shows strong revenue growth with a TTM increase of 7.97%. The company has improved its profitability significantly, with a gross profit margin of 41.06% and a net profit margin of 15.15% in the TTM. The EBIT and EBITDA margins are also robust at 25.43% and 32.03%, respectively, indicating efficient operations. However, past volatility in revenue growth and profitability should be monitored.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of 0.29 in the TTM, showing a decrease from previous years. Return on equity is strong at 26.07%, indicating effective use of equity to generate profits. The equity ratio stands at 60.84%, suggesting a solid capital structure. However, the company should continue to manage its debt levels carefully.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 10.32% in the TTM, which is a concern. The operating cash flow to net income ratio is healthy at 0.91, and the free cash flow to net income ratio is 0.60, indicating decent cash generation relative to net income. The company should focus on improving free cash flow growth to enhance financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	298.94M	254.00M	125.32M	108.05M	144.21M	166.27M
Gross Profit	112.98M	68.56M	14.20M	9.70M	38.81M	74.69M
EBITDA	119.43M	54.64M	52.16M	-2.68M	30.72M	50.43M
Net Income	77.47M	19.22M	41.94M	-10.09M	4.27M	58.48M
Balance Sheet
Total Assets	370.82M	315.09M	269.89M	133.86M	140.29M	147.32M
Cash, Cash Equivalents and Short-Term Investments	121.37M	100.98M	70.07M	86.07M	91.45M	52.20M
Total Debt	52.67M	70.32M	47.46M	0.00	0.00	12.72K
Total Liabilities	145.18M	164.06M	134.52M	39.43M	37.73M	52.86M
Stockholders Equity	225.64M	151.04M	135.37M	94.43M	102.56M	94.47M
Cash Flow
Free Cash Flow	40.65M	32.87M	3.34M	-4.80M	29.72M	-32.51K
Operating Cash Flow	65.03M	53.92M	9.46M	-2.66M	33.05M	-32.51K
Investing Cash Flow	-24.96M	-57.39M	-20.48M	-3.61M	-3.85M	0.00
Financing Cash Flow	-27.50M	6.39M	-9.47M	702.45K	19.08M	0.00

Andean Precious Metals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.02
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:APM, the sentiment is Neutral. The current price of 9.02 is below the 20-day moving average (MA) of 9.42, below the 50-day MA of 9.85, and above the 200-day MA of 6.66, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 47.89 is Neutral, neither overbought nor oversold. The STOCH value of 49.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:APM.

Andean Precious Metals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APM	78 Outperform	C$1.48B	5.08	42.17%	―	33.21%	47.22%
PAAS	76 Outperform	C$35.62B	11.93	16.72%	0.88%	25.04%	―
AG	74 Outperform	C$19.04B	47.66	8.02%	0.12%	88.70%	―
FVI	73 Outperform	C$5.15B	9.95	19.10%	―	7.61%	915.74%
SCZ	73 Outperform	C$1.37B	10.91	47.13%	―	21.03%	-48.39%
SVM	71 Outperform	C$3.71B	-29.08	-2.37%	0.29%	37.50%	-60.92%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Andean Precious Metals Corporate Events

Andean Precious Metals’ Major Shareholder Sells C$95.6 Million in Secondary Share Offering

Andean Precious Metals has closed a C$95.6 million bought secondary offering of 9.1 million common shares sold by major shareholder PMB Partners LP at C$10.50 per share, an initiative aimed at boosting the company’s free float and enhancing liquidity in its stock. The sale reduces PMB Partners’ ownership from about 53.2% to 47.2% of Andean’s outstanding shares, marking a modest step toward a more diversified shareholder base, while the company itself receives no proceeds from the transaction; PMB Partners and its affiliate retain flexibility to adjust their holdings further, including via capped call option transactions with a financial institution counterparty.

The most recent analyst rating on (TSE:APM) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Andean Precious Metals stock, see the TSE:APM Stock Forecast page.

Andean Precious Metals CEO Launches C$83.1 Million Secondary Share Offering to Boost Liquidity

Andean Precious Metals’ founder, executive chairman and CEO Alberto Morales, through his entity PMB Partners LP, has launched a C$83.1 million bought public secondary offering of 7,915,000 common shares at C$10.50 per share, with National Bank Financial leading a syndicate of underwriters. The company itself will not receive any proceeds, as all funds go to the selling shareholder, but the transaction is designed to increase Andean’s public float, attract more institutional investors and improve trading liquidity, while Morales remains the largest shareholder with just under half of the outstanding shares and both he and the company committing to a 90‑day lock-up on further share sales or issuances.

The most recent analyst rating on (TSE:APM) stock is a Buy with a C$11.50 price target. To see the full list of analyst forecasts on Andean Precious Metals stock, see the TSE:APM Stock Forecast page.

Andean Precious Metals Secures $40 Million Credit Facility to Enhance Financial Flexibility

Andean Precious Metals has secured a new $40 million revolving credit facility from the National Bank of Canada, enhancing its financial flexibility and capital structure. This move allows Andean to streamline its capital structure by retiring existing credit facilities, thereby reducing costs and aligning with its growth plans, which is expected to support its strategic objectives and strengthen its market position.

The most recent analyst rating on (TSE:APM) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Andean Precious Metals stock, see the TSE:APM Stock Forecast page.

Andean Precious Metals Achieves Record Financial Results in Q3 2025

Andean Precious Metals reported a strong third quarter in 2025, achieving record revenues, EBITDA, and earnings per share, driven by higher metal prices and effective cost management. The company maintained robust operating margins despite production variances, with Golden Queen and San Bartolome mines performing well. The financial results have strengthened Andean’s balance sheet, providing flexibility for future investments and growth opportunities, while maintaining a strong financial position with significant liquid assets.

The most recent analyst rating on (TSE:APM) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Andean Precious Metals stock, see the TSE:APM Stock Forecast page.