Aston Bay Holdings (BAY) AI Stock Analysis

• Market Cap: C$16.44M
• Dividend Yield: N/A
• Average Volume (3M): 191.36K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: N/A
• EPS Growth: 90.73%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 252,949,630
• 10 Day Avg. Volume: 108,347
• 30 Day Avg. Volume: 191,357
• PEG Ratio: 0.12
• Price to Book (P/B): 9.24
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.14
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: C$0.07 ▲(38.00% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn), only partially offset by the 2025 balance-sheet repair (positive equity and zero debt). Technicals are mixed with some near-term improvement but weaker longer-term trend and a negative MACD. Valuation remains unattractive due to negative earnings and no dividend support.

Positive Factors

Balance-sheet repair in 2025

Equity turning positive and zero reported debt materially reduce short-term solvency pressure and improve financial flexibility. This strengthens the company’s ability to pursue exploration or JV negotiations without immediate debt servicing, extending operational runway versus prior years.

Partnership-driven monetization model

A business model centered on option/JV and farm-out monetization minimizes capital intensity and enables de-risking through partner funding. Structurally this can preserve cash, accelerate project advancement, and create value events without needing near-term production or heavy capex.

Specialized copper and base/precious-metals focus

A clear commodity and exploration focus builds domain expertise and makes assets more comparable and attractive to strategic partners or acquirers. Persistent specialization raises the probability of targeted JV interest and value realization if exploration yields compelling results.

Negative Factors

No revenue and persistent losses

Absence of operating revenue means the company has no underlying margin base and remains wholly reliant on financing or transactions to fund activity. Persistent, sizeable losses erode equity over time and make long-term viability contingent on successful monetization or sustained capital access.

Consistent negative operating and free cash flow

Chronic negative operating and free cash flow shrink financial runway and necessitate recurrent financing. Repeated capital raises can dilute shareholders and limit strategic optionality, constraining the company’s ability to fund exploration or respond to setbacks without partner funding.

Small asset base and continued funding dependence

A limited asset base reduces collateral and bargaining leverage in transactions, increasing vulnerability to financing market conditions. If exploration results are delayed or negative, the company may face rapid depletion of resources and constrained ability to pursue strategic opportunities.

Aston Bay Holdings Business Overview & Revenue Model

Company Description

Aston Bay Holdings Ltd. acquires, explores for, and develops resource properties in North America. The company explores for copper, lead, zinc, gold, silver, and precious metal deposits. It holds a 100% interest in the Storm Copper and Seal Zinc project that consists of 117 contiguous mining claims and 6 prospecting permits covering an area of approximately 302,725 hectares on Somerset Island, Nunavut, Canada; the Blue Ridge Gold project covers an area of 4,445 hectares located in central Virginia, the United States; and the Mountain Zinc-Copper project, which covers an area of 1,982 acres located in central Virginia, the United States. The company is headquartered in Toronto, Canada.

How the Company Makes Money

Aston Bay Holdings makes money through its mineral exploration operations, primarily by investing in exploration projects with the potential to discover economically viable mineral deposits. The company's revenue model is based on increasing the value of its exploration assets and projects, which can attract investment, joint ventures, or potential acquisitions by larger mining companies. Aston Bay Holdings may also generate revenue through the sale or optioning of its mineral properties to other entities interested in advancing the projects. Key revenue streams include exploration success leading to increased asset valuation and strategic partnerships that provide funding and technical expertise. Significant factors contributing to its earnings include successful exploration outcomes, market demand for copper and gold, and the ability to secure investment from partners or through public markets.

Aston Bay Holdings Financial Statement Overview

Summary

Income statement and cash flow are weak (no revenue, persistent losses, and sustained negative operating/free cash flow), keeping the business funding-dependent. The main offset is balance-sheet improvement in 2025 with equity turning positive and debt falling to zero, reducing near-term solvency pressure but not eliminating ongoing financing risk.

Income Statement

The company reports no revenue across the annual periods provided, indicating it is still pre-commercial and fully reliant on external funding. Losses are persistent and sizeable, with net income worsening from about -0.7M (2023) to about -3.3M (2024), remaining deeply negative in 2025 (~-2.0M). With no sales base to absorb costs, profitability and margin quality are structurally weak, and the earnings profile remains highly volatile and funding-dependent.

Balance Sheet

The balance sheet shows a meaningful improvement in financial position in 2025, with stockholders’ equity turning positive (~1.34M) after multiple years of negative equity (2021–2024), which reduces solvency risk. Total debt is reported at 0 in 2025 (down from ~0.64–0.78M in 2023–2024), improving flexibility. Offsetting this, the company remains loss-making and asset scale is relatively small (total assets ~1.51M in 2025), so the balance sheet still relies on continued access to capital if losses persist.

Cash Flow

Cash generation is weak, with operating cash flow consistently negative each year (roughly -0.22M to -2.46M), and free cash flow also negative throughout. 2025 free cash flow improved versus 2024 (from about -2.46M to about -2.41M), but the burn rate remains high relative to the company’s size and there is no operating cash self-sufficiency. Overall, the business remains dependent on financing activities to fund ongoing operations.

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	0.00	0.00	-83.33K	-83.33K	0.00	0.00
EBITDA	-3.62M	-1.96M	-3.07M	-455.00K	-103.00K	-65.95K
Net Income	-1.01M	-1.96M	-3.29M	-725.00K	-1.73M	-1.44M
Balance Sheet
Total Assets	1.98M	1.51M	665.23K	203.72K	266.06K	219.96K
Cash, Cash Equivalents and Short-Term Investments	1.83M	1.43M	552.89K	3.75K	56.39K	19.18K
Total Debt	0.00	0.00	644.78K	782.23K	515.82K	304.48K
Total Liabilities	145.32K	170.33K	1.06M	2.27M	1.59M	705.57K
Stockholders Equity	1.84M	1.34M	-393.44K	-2.07M	-1.32M	-485.62K
Cash Flow
Free Cash Flow	-1.31M	-2.41M	-2.46M	-221.55K	-940.19K	-1.19M
Operating Cash Flow	-1.31M	-2.41M	-2.46M	-221.55K	-940.19K	-1.19M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	0.00	3.28M	3.02M	229.30K	976.38K	881.32K

Aston Bay Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BAY, the sentiment is Positive. The current price of 0.05 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.06, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.30 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BAY.

Aston Bay Holdings 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%
BMET	51 Neutral	C$23.55M	-0.77	-125.25%	―	―	-500.71%
AUME	50 Neutral	C$20.01M	-9.30	―	―	―	―
BKM	49 Neutral	C$22.70M	-25.66	―	―	―	-36.95%
BAY	46 Neutral	C$16.44M	-31.58	-55.06%	―	―	90.73%
ABR	39 Underperform	C$19.81M	27.78	5.28%	―	―	―

Aston Bay Holdings Corporate Events

Aston Bay Uncovers 17 New Metal Showings at Nunavut Epworth Project

Aston Bay Holdings reported significant results from its 2025 summer field program at the Epworth Copper-Silver Project in Nunavut, where prospecting and mapping led to the discovery of 17 new base and precious metal showings. High-grade grab samples from these showings returned up to 29.2% copper with 217 g/t silver in chalcocite veins, as well as notable copper-gold, zinc-lead and cobalt values that are spatially associated with MobileMT geophysical conductors. Management says the results support the presence of a robust sediment-hosted copper system with potential for substantial buried mineralization, particularly within the underexplored Recluse Group rocks, and materially refine and de-risk targets ahead of a planned 2026 drill program that will test both high-grade veins and large-scale stratiform Cu-Ag-Co mineralization, positioning the project to benefit from strong copper and silver price trends.

The most recent analyst rating on (TSE:BAY) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Aston Bay Holdings stock, see the TSE:BAY Stock Forecast page.