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Aya Gold & Silver
(TSX:AYA)
Aya Gold & Silver (AYA) vs. iShares MSCI Canada ETF (EWC)
Aya Gold & Silver Business Overview & Revenue Model
Aya Gold & Silver Earnings Call Summary
Aya Gold & Silver Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 136.12M | 39.12M | 42.85M | 38.24M | 34.30M | 13.82M |
| Gross Profit | 38.81M | 5.38M | 15.81M | 10.28M | 16.01M | 4.04M |
| EBITDA | 25.77M | -21.28M | 11.73M | 11.17M | 8.54M | 1.50M |
| Net Income | 2.47M | -21.62M | 5.50M | 466.00K | -307.00K | -2.28M |
Balance Sheet | ||||||
| Total Assets | 585.04M | 400.11M | 333.06M | 156.80M | 161.26M | 72.08M |
| Cash, Cash Equivalents and Short-Term Investments | 129.18M | 30.94M | 49.83M | 39.36M | 81.67M | 30.53M |
| Total Debt | 84.62M | 101.33M | 58.79M | 287.00K | 425.88K | 316.33K |
| Total Liabilities | 188.27M | 153.63M | 107.92M | 26.50M | 21.26M | 10.15M |
| Stockholders Equity | 396.92M | 246.48M | 220.72M | 125.72M | 132.95M | 61.03M |
Cash Flow | ||||||
| Free Cash Flow | -31.43M | -101.61M | -106.25M | -33.67M | -2.74M | -2.66M |
| Operating Cash Flow | 40.46M | -8.62M | 21.19M | 9.65M | 17.54M | 1.28M |
| Investing Cash Flow | -68.92M | -94.01M | -145.44M | -48.46M | -23.59M | -6.48M |
| Financing Cash Flow | 104.68M | 88.48M | 133.35M | 440.60K | 57.91M | 18.29M |
Aya Gold & Silver Technical Analysis
Aya Gold & Silver Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$1.38B | 12.86 | 42.17% | ― | 33.21% | 47.22% | |
76 Outperform | C$4.44B | 13.26 | 15.63% | ― | 7.61% | 915.74% | |
73 Outperform | C$1.56B | 14.27 | 47.13% | ― | 21.03% | -48.39% | |
69 Neutral | C$3.20B | 91.15 | 3.54% | 0.29% | 37.50% | -60.92% | |
62 Neutral | C$3.28B | 1,373.21 | 0.71% | ― | 241.04% | -80.07% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$590.70M | -19.33 | -26.19% | ― | ― | -5.25% |
Aya Gold & Silver Corporate Events
Aya Gold & Silver has issued its 2026 outlook, targeting total production of 6.2 to 6.8 million silver-equivalent ounces, largely driven by 5.2 to 5.8 million ounces from the Zgounder mine at an average cost of $21.50 per ounce, complemented by the commercialization of Boumadine pyrite stockpiles at a lower cash cost. The company plans to invest about $36 million in sustaining and growth capital at Zgounder, evaluate further plant capacity increases, accelerate feasibility and resource work at Boumadine, and execute an extensive 230,000‑metre drilling program, while also pursuing a U.S. listing in the first half of 2026 to broaden its investor base and support long-term growth and value creation.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$29.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver reported strong 2025 exploration results from its Zgounder and Boumadine projects in Morocco, underpinned by more than 175,000 metres of drilling and the addition of 16 new exploration permits that materially expand its land position. At Zgounder, drilling confirmed significant high-grade silver mineralization at depth and along strike, supporting an extension of the open pit and contributing to net growth in proven and probable reserves to 73 million ounces of silver and an increase in measured and indicated resources to 100 million ounces, both net of depletion. At Boumadine, the company delivered several high-grade polymetallic intercepts along the main trend, extended the Tizi zone to 2.2 kilometres, and published an updated mineral resource estimate showing a 19% increase in indicated resources, with substantial inferred resources and further upside given that most 2025 drilling is not yet incorporated, signalling continued potential to add ounces and enhance project scale.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver reported a strong 2025 exploration campaign at its Zgounder and Boumadine properties in Morocco, where over 175,000 metres of drilling delivered multiple high-grade silver and silver-equivalent intercepts and supported both reserve and resource growth. At Zgounder, the company exceeded its drilling targets, confirmed significant mineralization at depth and along strike, and increased proven and probable silver reserves to 73 million ounces and measured and indicated resources to 100 million ounces, while expanding its exploration footprint through six additional permits. At Boumadine, Aya completed more than 150,000 metres of drilling, reported standout polymetallic intercepts across the main trend and the Tizi zone, delivered an updated mineral resource estimate showing a 19% increase in indicated resources, and added 10 new permits, underscoring substantial growth potential that is not yet fully captured in current resource figures and reinforcing the company’s position as a leading silver explorer in Morocco.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver has achieved financial completion under its US$100 million project loan with the European Bank for Reconstruction and Development for the expansion of its Zgounder silver mine in Morocco, following a detailed technical and financial review that confirms the mine’s successful move to commercial production and compliance with financial and environmental-social commitments. The milestone reduces the company’s security guarantees and restricted cash requirements, underscores lender confidence in Zgounder’s performance above design capacity, and is expected to strengthen Aya’s free cash flow profile and support the next phase of growth for its Moroccan-focused precious metals portfolio.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$25.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver announced that long-serving board members Robert Taub, the chair and founding shareholder, and lead independent director Dr. Jürgen Hambrecht will retire from the board at the next annual meeting, after playing key roles in the company’s governance, strategic turnaround and value creation. In conjunction with the board transition, Taub and Hambrecht sold a combined 7.5 million shares in a secondary market transaction, while members of management sold about 1.1 million shares, described as ordinary portfolio management and largely tied to option exercises, with management retaining around 7.7 million securities and signaling ongoing confidence in Aya’s growth trajectory; the company plans to announce new board nominees and reaffirmed its commitment to strong independent oversight and alignment with long-term shareholder interests.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$27.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver reported record fourth-quarter 2025 operational results at its Zgounder mine in Morocco, delivering silver production of 1.37 million ounces, up 2% quarter-on-quarter, and achieving a record December output of 545,491 ounces. The mine ran well above nameplate capacity, with ore processed averaging 3,796 tonnes per day in Q4, mill availability at 99%, sustained silver recoveries above 91%, and a combined underground and open-pit mining rate of 4,187 tonnes per day that significantly increased stockpiled ore. For full-year 2025, silver production at Zgounder rose to 4.83 million ounces, a 193% increase year-on-year, supported by debottlenecking and process optimization, while initial commercialization of historical pyrite stockpiles at Boumadine added 172,129 silver-equivalent ounces, underpinning a step-change in the company’s production profile and positioning it for continued strong output in 2026.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$31.50 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver has filed a NI 43-101-compliant Preliminary Economic Assessment technical report for its Boumadine polymetallic project in Morocco, confirming previously released figures and outlining a district-scale development combining open-pit and underground mining with a flotation plant producing zinc, lead and pyrite concentrates, with revenues largely driven by gold and silver. The assessment indicates robust project economics, including a post-tax net present value of US$1.5 billion and internal rate of return of 47% under base-case metal prices, low initial capex of US$446 million, projected mine life of 11 years with strong gold- and silver-equivalent production and competitive cash costs, suggesting Boumadine could become a major growth driver for Aya and materially strengthen its position in the precious metals sector as it advances toward a targeted feasibility study completion in 2027.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$21.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver has announced an updated NI 43-101 Technical Report for its Zgounder Silver Mine, highlighting a new Life of Mine plan extending operations to 2036. The report indicates a robust increase in reserves and resources, supported by extensive drilling and a refined geological model, which enhances the reliability of the mine plan. With an average annual silver production of 6 million ounces over the next 11 years, the company is well-positioned for future growth, leveraging a capital-efficient open-pit strategy and a favorable market landscape.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$21.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver Inc. announced significant high-grade silver drill results from its exploration program at the Zgounder Silver Mine in Morocco. The results highlight strong continuity of silver mineralization, with new intersections extending mineralization further west, potentially enhancing the company’s resource model and strengthening its position in the silver mining industry.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$19.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver Inc. announced its most significant mineralized intercept to date at the Boumadine project in Morocco, highlighting a record metal factor and the discovery of a new high-grade parallel structure. These findings underscore the potential for substantial resource growth and the project’s world-class scale, with the company planning to expand its drilling operations to further explore these promising results.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$33.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver Inc. has initiated commercial production from a historical stockpile of precious metal-rich pyrite concentrate at its Boumadine mining license in Morocco. This initiative aims to reduce the environmental impact of past operations while generating positive cash flow for the Boumadine project. The company has entered an offtake agreement for the stockpile, with plans to produce and ship an estimated 2.5 million silver-equivalent ounces over the next 20 to 24 months. The project capitalizes on favorable market conditions and supports environmental remediation efforts, marking a strategic step in Aya’s operations.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$14.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver reported record financial and operational results for Q3-2025, driven by significant increases in silver production and sales. The company achieved record revenue of $54.3 million and net income of $12.4 million, supported by the ramp-up of the Zgounder plant and favorable silver prices. The successful ramp-up at Zgounder, coupled with positive economic assessments for the Boumadine project, positions Aya for long-term growth and value creation for shareholders.
The most recent analyst rating on (TSE:AYA) stock is a Buy with a C$25.00 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver has announced the results of its 2025 Preliminary Economic Assessment for the Boumadine Project in Morocco, highlighting a highly attractive and capital-efficient mining project. The assessment reveals robust economics with a post-tax NPV of $1.5 billion at base case prices, increasing to $3.0 billion at spot prices, and a rapid payback period. The project is characterized by low initial capital costs and competitive all-in sustaining costs, positioning it as one of the most attractive undeveloped precious metal projects globally. With an existing mining license and ongoing development, the project is set to significantly enhance Aya’s market positioning and stakeholder value.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$15.50 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.
Aya Gold & Silver has announced the results of its 2025 Preliminary Economic Assessment for the Boumadine Project in Morocco, highlighting a highly attractive and capital-efficient mining operation. The project demonstrates robust economics with a post-tax NPV of $1.5 billion at base case prices and $3.0 billion at spot prices, alongside a rapid payback period and competitive all-in sustaining costs. The Boumadine Project is positioned as one of the most appealing undeveloped precious metal projects globally, with an existing mining license and ongoing development efforts to unlock further potential.
The most recent analyst rating on (TSE:AYA) stock is a Hold with a C$15.50 price target. To see the full list of analyst forecasts on Aya Gold & Silver stock, see the TSE:AYA Stock Forecast page.