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Azimut Exploration
(AZM)
Azimut Exploration (AZM) vs. iShares MSCI Canada ETF (EWC)
Azimut Exploration Business Overview & Revenue Model
Azimut Exploration Financial Statement Overview
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 363.20K | 443.58K | 139.56K | 107.44K | 314.59K |
| Gross Profit | 262.33K | 307.77K | 60.05K | 45.45K | 254.23K |
| EBITDA | -3.29M | -886.00K | -1.74M | -1.70M | -1.49M |
| Net Income | -2.48M | 42.59K | -1.83M | 1.62M | -551.00K |
Balance Sheet | |||||
| Total Assets | 65.89M | 57.66M | 46.67M | 54.21M | 51.86M |
| Cash, Cash Equivalents and Short-Term Investments | 13.64M | 11.77M | 3.32M | 15.94M | 27.64M |
| Total Debt | 320.33K | 50.67K | 105.16K | 73.44K | 118.66K |
| Total Liabilities | 9.38M | 7.90M | 3.14M | 7.03M | 7.53M |
| Stockholders Equity | 56.51M | 49.76M | 43.53M | 47.18M | 44.33M |
Cash Flow | |||||
| Free Cash Flow | -7.73M | -11.48M | -17.58M | -15.02M | -13.38M |
| Operating Cash Flow | 2.05M | -512.30K | -735.88K | 1.77M | -846.53K |
| Investing Cash Flow | -8.68M | 1.08M | -10.14M | -15.53M | -9.97M |
| Financing Cash Flow | 8.51M | 7.88M | 158.74K | 158.20K | 32.63M |
Azimut Exploration Technical Analysis
Azimut Exploration Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | C$68.16M | -5.31 | -102.50% | ― | ― | 44.16% | |
48 Neutral | C$102.64M | -9.60 | -35.13% | ― | ― | 36.48% | |
47 Neutral | C$88.70M | -11.95 | -21.77% | ― | ― | -2.52% | |
44 Neutral | C$68.50M | 30.99 | -4.67% | ― | ― | -5360.00% |
Azimut Exploration Corporate Events
Azimut Exploration reported that shareholders approved all items at its recent annual general meeting, including the election of the full slate of directors and the reappointment of key executives, with voter participation nearing 68 percent of outstanding shares. Management reaffirmed a strategy centered on self-funded drilling at the Wabamisk, Elmer and Kukamas projects, with a minimum of 20,000 metres of drilling planned for 2026 to advance its highest-priority assets.
At Wabamisk, the company completed more than 5,100 metres of drilling on the Fortin Zone, where deeper intercepts and native gold grains suggest a potentially significant antimony-gold vertical zonation, while ongoing work on the Rosa Zone is following up on a kilometre-scale gold discovery and lithium assays from the Lithos Pegmatite Field are pending. At Elmer, a 10,000-metre drill campaign is starting to expand the existing resource base toward an updated estimate and possible economic study, as Azimut also streamlines its broader portfolio through selective deals and divestitures to concentrate capital on a smaller set of high-impact projects.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.68 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration and its partner KGHM have reported strong 2025 drilling results from the Perseus Zone on the Kukamas Property in Quebec’s James Bay region, expanding high-grade nickel and PGE mineralization across both the Main and East zones. The drilling confirms robust grades over meaningful widths, indicates the mineralized zones remain open at depth and along strike, and supports continued investment in the project.
KGHM has now earned a 50% interest in the Kukamas Property and has elected to proceed to a second option phase, under which it can increase its stake to 70% through additional, fully funded work. This decision reinforces the strategic significance of the Perseus discovery for both partners, underpins Azimut’s exploration-led growth model, and may enhance the project’s profile within the critical metals and battery materials sector.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.68 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has completed the sale of its 50% interest in the Galinée lithium property in Quebec’s James Bay region to LiFT Power in a share-based deal valued at about $13.4 million, plus a deferred payment. The company retains upside through a 1.4% net smelter return royalty and now holds roughly $15 million in equity stakes and multiple royalties on lithium properties adjacent to development-stage projects.
These moves align with Azimut’s strategy to streamline its portfolio and concentrate capital on flagship projects Elmer and Wabamisk, where at least 17,000 metres of drilling are planned in early 2026. By crystallizing value from non-core assets while maintaining royalty exposure, Azimut aims to strengthen its balance sheet and sharpen its focus on advancing key gold and critical metals discoveries in Quebec.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.76 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has confirmed a significant gold discovery at the Rosa Zone on its wholly owned Wabamisk Property in Québec’s James Bay region, with maiden drilling outlining a robust, laterally continuous system traced over at least 1.4 kilometres and remaining open in all directions. The 3,633‑metre, 26‑hole program returned encouraging grades and widths, highlighted by 3.26 g/t gold over 9.35 metres within 28.80 metres at 1.29 g/t, and has prompted a follow‑up 2,000‑metre drilling campaign to expand the zone and refine its geometry.
The discovery is supported by a strong correlation between gold mineralization and induced polarization anomalies, suggesting substantial upside as additional subparallel trends and three other multi‑kilometre target areas near the Rosa and Fortin zones are tested in 2026. These results strengthen Azimut’s exploration pipeline in James Bay and could enhance its strategic positioning in the Canadian gold sector if continued drilling confirms the scale and continuity of the mineralized system.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.92 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration plans a 10,000-metre diamond drill program on its wholly owned Elmer Property in Québec’s James Bay region to expand the Patwon gold deposit and test nearby high-priority targets identified through an internal scoping study and reinterpretation of previous drilling. Building on a 2023 NI 43-101 resource estimate that outlined significant indicated and inferred ounces under varying gold-price assumptions, the company sees strong potential to grow resources along strike and at relatively shallow depths, and, contingent on positive drilling results, intends to update its mineral resource estimate and launch a preliminary economic assessment supported by advanced metallurgical, geotechnical, infrastructure and environmental studies, underscoring its ambition to advance Patwon toward development in a favourable gold-price environment.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.90 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has launched a new minimum 5,000-metre diamond drilling program on the Fortin antimony-gold zone at its wholly owned Wabamisk Property in the Eeyou Istchee James Bay region of Québec, where it has already outlined a 1.8-kilometre-long mineralized body open in all directions and is also delineating a nearby gold target and the Rosa gold zone 15 kilometres to the west. The company is accelerating project advancement through deeper drilling to test for gold enrichment, commissioning metallurgical testing and a market study for Fortin’s antimony products, and reassessing the property’s broader gold potential along a 15-kilometre underexplored corridor, following strong drilling results in which 83% of recent holes intersected significant antimony mineralization, many with meaningful gold grades, underscoring the zone’s potential to become one of Canada’s largest antimony-bearing systems.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.90 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has granted 1,115,000 stock options as part of its year-end compensation review, with the bulk of the options (1,020,000) going to directors and officers and the remainder to employees and consultants. The options are exercisable at $0.79 per share over a 10-year period, aligning management, staff and external partners with the company’s long-term exploration strategy across its key gold, copper, nickel and lithium projects in Quebec and reinforcing incentive structures as it advances multiple drilling and evaluation programs.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.80 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has agreed to sell its 50% interest in the Galinée lithium property in Quebec’s James Bay region to LiFT Power in exchange for 2 million LiFT shares, a 1.4% net smelter return royalty and a deferred payment of $1.5 million in cash or shares, valuing the consideration at roughly $10.3 million based on recent market prices. The deal, which remains subject to customary closing conditions and TSX Venture Exchange approval, aligns with Azimut’s strategy to concentrate capital and management attention on its flagship Wabamisk and Elmer projects while retaining upside exposure to the emerging Galinée-Adina lithium hub through both equity and royalty interests, reinforcing its balance sheet and strategic positioning in Quebec’s critical minerals sector.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Azimut Exploration has further defined an extensive, high-grade lithium pegmatite field on its 100%-owned Wabamisk East Property in Quebec’s James Bay region, confirming the area’s strong lithium potential. The 2025 field program identified at least 138 spodumene-bearing outcrops and returned 340 samples above 0.5% Li2O, averaging 1.94% Li2O, while initial diamond drilling across five holes confirmed down-dip extensions of mineralized outcrops at several prospects, with numerous drill-ready high-grade targets supporting a more substantial follow-up campaign in 2026 despite Rio Tinto’s decision to terminate its option agreement on the project. The company is simultaneously advancing nearby gold and antimony-gold zones on the adjacent Wabamisk Property, positioning itself as a key regional player in both lithium and precious metals exploration in the James Bay district.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.