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Bear Creek Mining Corporation (TSE:BCM)
:BCM

Bear Creek Mining (BCM) AI Stock Analysis

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TSE:BCM

Bear Creek Mining

(BCM)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
C$0.89
▲(24.79% Upside)
The score is held down primarily by very weak financial performance, including sustained losses and a highly leveraged balance sheet with negative equity. Strong technical momentum provides the main offset, while valuation remains unattractive/unclear due to negative earnings and no dividend data.
Positive Factors
Precious metals exposure
Primary focus on silver and gold provides durable demand drivers and portfolio diversification versus single-commodity miners. Precious metals have persistent industrial and monetary uses, supporting long-term value capture if Bear Creek advances projects to steady production and scales output.
Improving free cash flow growth
A reported 120.2% improvement in free cash flow growth signals progress in cash generation capacity. If sustained, this trend can reduce reliance on external financing, fund project development, and improve liquidity — bolstering operational resilience over the medium term.
Advanced-stage Peruvian projects
Holding advanced-stage assets in a major mining jurisdiction shortens time to potential production and de-risks exploration phase exposure. Successful permitting and construction of these Peruvian projects can materially improve production profile and long-term cash generation prospects.
Negative Factors
Deeply negative profitability
Consistent negative gross and net margins indicate the business currently cannot cover production and overhead costs. Sustained losses erode capital, limit reinvestment, and force dependence on external funding, undermining long-term viability unless margins structurally improve.
Highly leveraged balance sheet
Very high leverage and negative equity materially increase solvency and refinancing risk. Elevated debt service constrains capital allocation, reduces strategic optionality, and makes the company vulnerable to commodity price or operating shocks over the medium term.
Negative operating cash flow
Ongoing negative operating cash flow shows core operations are not generating sufficient cash. Even with improved free cash flow growth, persistent negative OCF signals structural conversion issues and forces reliance on financing to cover capex and debt, stressing long-term sustainability.

Bear Creek Mining (BCM) vs. iShares MSCI Canada ETF (EWC)

Bear Creek Mining Business Overview & Revenue Model

Company DescriptionBear Creek Mining Corporation engages in the acquisition, exploration, and development of precious and base metal properties in Peru. The company explores for silver, lead, zinc, and gold deposits. Its flagship property is the Corani property that consists of 13 mineral concessions covering an area of approximately 6,500 hectares located to the southeast of Cusco, Peru. Bear Creek Mining Corporation was incorporated in 1999 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyBear Creek Mining generates revenue primarily through the extraction and sale of metals, particularly silver and gold, from its mining operations. The company earns money by selling these metals to various markets, including industrial customers and precious metals investors. Key revenue streams include direct sales from its mining projects, royalties from mineral rights, and potentially strategic partnerships with other mining companies for joint ventures or resource sharing. Additionally, BCM's financial performance can be influenced by metal prices in the global market, operational efficiencies, and the successful exploration and development of new mining projects, which can lead to increased production and sales.

Bear Creek Mining Financial Statement Overview

Summary
Overall fundamentals are weak: profitability is deeply negative (TTM gross margin -17.7%, net margin -60.0%) and the balance sheet is highly stressed with very high leverage (debt-to-equity 8.75) and negative equity. Cash flow shows some improvement in free cash flow growth (+120.2%), but operating cash flow remains negative, underscoring ongoing operating strain.
Income Statement
35
Negative
Bear Creek Mining's income statement shows significant challenges with negative profit margins across the board. The TTM data reveals a gross profit margin of -17.7% and a net profit margin of -60.0%, indicating substantial losses. Despite a revenue growth rate of 30.1% in the TTM, the company struggles with profitability, as evidenced by negative EBIT and EBITDA margins. The consistent negative margins and losses highlight a need for strategic improvements to achieve profitability.
Balance Sheet
25
Negative
The balance sheet reflects a precarious financial position with a high debt-to-equity ratio of 8.75 in the TTM, indicating heavy reliance on debt financing. The negative stockholders' equity further exacerbates the risk, suggesting potential solvency issues. Return on equity is deeply negative, reflecting the company's inability to generate returns for shareholders. The equity ratio is also concerning, indicating low equity relative to total assets.
Cash Flow
40
Negative
Cash flow analysis reveals a mixed picture. The TTM shows a significant improvement in free cash flow growth at 120.2%, but the operating cash flow remains negative, indicating ongoing operational challenges. The free cash flow to net income ratio is slightly above 1, suggesting some alignment between cash flow and reported losses. However, the negative operating cash flow to net income ratio highlights inefficiencies in converting income into cash.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue106.91M103.74M89.15M61.04M0.000.00
Gross Profit-18.90M3.15M-12.26M123.00K-32.00K-33.00K
EBITDA-44.02M-27.57M10.95M803.00K-21.15M-12.65M
Net Income-98.78M-66.82M-38.98M-22.60M-22.00M-11.04M
Balance Sheet
Total Assets223.29M180.29M241.11M275.15M121.92M117.96M
Cash, Cash Equivalents and Short-Term Investments3.23M6.72M3.92M3.50M24.20M20.58M
Total Debt132.99M73.05M61.41M25.30M447.00K659.00K
Total Liabilities254.09M156.15M154.71M160.99M11.34M13.09M
Stockholders Equity-30.81M24.14M86.40M114.17M110.58M104.87M
Cash Flow
Free Cash Flow-17.82M2.91M-17.60M-24.69M-20.92M-14.17M
Operating Cash Flow-4.74M15.49M-1.46M-10.72M-18.14M-11.01M
Investing Cash Flow-14.22M-10.62M-16.40M-16.61M-3.01M8.15M
Financing Cash Flow12.62M-2.08M18.34M6.71M24.52M12.30M

Bear Creek Mining Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.71
Price Trends
50DMA
0.59
Positive
100DMA
0.53
Positive
200DMA
0.36
Positive
Market Momentum
MACD
0.07
Negative
RSI
58.80
Neutral
STOCH
63.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BCM, the sentiment is Positive. The current price of 0.71 is below the 20-day moving average (MA) of 0.75, above the 50-day MA of 0.59, and above the 200-day MA of 0.36, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 58.80 is Neutral, neither overbought nor oversold. The STOCH value of 63.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BCM.

Bear Creek Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
56
Neutral
C$216.58M-24.51-50.60%-235.10%
52
Neutral
C$35.24M-11.7642.57%
50
Neutral
C$320.73M-106.36-6.09%8.28%87.46%
50
Neutral
C$37.01M-28.26-1.67%
49
Neutral
C$271.56M-1.67-525.71%-4.16%-66.82%
42
Neutral
C$167.94M-12.31-46.38%19.55%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:BCM
Bear Creek Mining
0.79
0.42
113.51%
TSE:BHS
Bayhorse Silver
0.10
0.04
66.67%
TSE:EMO
Emerita Resources
0.58
-0.76
-56.72%
TSE:AGX
Silver X Mining
1.17
0.97
485.00%
TSE:GRSL
GR Silver Mining
0.50
0.33
194.12%
TSE:SLV
Silver Dollar Resources
0.52
0.18
50.72%

Bear Creek Mining Corporate Events

Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Bear Creek Mining Sets Vote on Highlander Acquisition and Debt Restructuring
Positive
Jan 20, 2026

Bear Creek Mining has filed and mailed meeting materials for a special securityholders’ meeting on February 19, 2026 to seek approval for its plan of arrangement under which Highlander Silver Corp. will acquire all remaining Bear Creek shares in exchange for 0.1175 Highlander shares per Bear Creek share, as well as for interest deferral agreements with major creditors Royal Gold and Equinox Gold. The board unanimously supports the transaction, which is backed by voting support agreements from insiders and key shareholders representing about 30% of the stock, and further underpinned by Highlander’s recent $18 million private placement for 50 million Bear Creek shares, giving Highlander about 15% ownership and providing Bear Creek with immediate liquidity. The deal is positioned as a way to unlock value by creating a debt-free, well-capitalized combined company with a strong shareholder base and complementary Peruvian assets, offering Bear Creek investors continued exposure to the Corani Project and an enhanced project pipeline alongside Highlander’s San Luis gold-silver development property.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.72 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Other
Bear Creek Chair Catherine McLeod-Seltzer Joins Canadian Mining Hall of Fame
Positive
Jan 13, 2026

Bear Creek Mining announced that its co-founder and chair, Catherine McLeod-Seltzer, has been inducted into the Canadian Mining Hall of Fame, highlighting her leadership in the minerals industry, financial acumen and track record in building growth-focused mining companies. McLeod-Seltzer, who has raised more than $750 million in working capital and helped complete over $6 billion in mining transactions, is also a director at Teck Resources and Flow Capital and is widely recognized for her philanthropic work and numerous industry honours, underscoring the caliber of governance and industry connections at Bear Creek’s helm.

The most recent analyst rating on (TSE:BCM) stock is a Sell with a C$0.51 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Business Operations and StrategyM&A TransactionsShareholder Meetings
Highlander Silver and Bear Creek Streamline Acquisition Agreement by Dropping Highlander Shareholder Vote
Positive
Jan 9, 2026

Highlander Silver Corp. and Bear Creek Mining Corporation have amended and restated their previously announced arrangement agreement under which Highlander Silver will acquire all Bear Creek shares it does not already own by way of a statutory plan of arrangement. Following the exercise of a sufficient number of Highlander Silver share purchase warrants, the deal structure has been revised to remove the need for a Highlander Silver shareholder vote under Toronto Stock Exchange rules, streamlining the transaction timeline while maintaining all other key terms, with Bear Creek securityholders now set to vote on the arrangement by February 19, 2026, a step that advances consolidation of these Latin American precious metals assets under Highlander’s control.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.54 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
Bear Creek Raises C$18 Million as Highlander Silver Moves to Take Over Miner
Positive
Jan 8, 2026

Bear Creek Mining has closed a C$18 million non-brokered private placement, issuing 50 million common shares at C$0.36 each to Highlander Silver Corp., with the proceeds earmarked for bonding, site investigation, exploration and studies at the Corani silver project in Peru and for general working capital at the Mercedes gold mine in Mexico. The financing leaves Highlander Silver holding about 14.6% of Bear Creek’s outstanding shares and advances a previously announced plan of arrangement under which Highlander Silver intends to acquire the rest of Bear Creek, creating a combined company led by Highlander’s management; upon completion, Bear Creek’s shares are expected to be delisted from the TSX Venture Exchange and the company will seek to cease being a reporting issuer in Canada, implying a major ownership consolidation and structural change for existing shareholders.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.54 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Business Operations and StrategyM&A Transactions
Highlander Silver and Bear Creek Mining to Merge, Forming Growth-Focused Silver Producer
Positive
Dec 19, 2025

Highlander Silver Corp. and Bear Creek Mining Corporation have agreed to merge via a plan of arrangement, creating a combined, silver-focused company anchored by Highlander’s high-grade San Luis gold-silver project in Peru and Bear Creek’s Corani silver project, one of the largest primary silver deposits globally. The new entity, led by Highlander’s management and backed by prominent institutional and strategic shareholders, will also include the Mercedes gold-silver mine in Mexico and a strong, debt-free balance sheet, enhancing its capacity to advance multiple projects, address Bear Creek’s prior liquidity and debt challenges, and position the group as a leading growth platform in the silver space with substantial exploration and development upside in South America and Mexico.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.49 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Business Operations and StrategyM&A Transactions
Bear Creek Mining Sells Tassa Project to Focus on Core Assets
Positive
Dec 11, 2025

Bear Creek Mining Corporation has announced the sale of its 100% interest in the non-core Tassa Project in southern Peru to Colque Holding Pty Ltd for US$3.5 million, payable over 30 months. This transaction allows Bear Creek to focus on its core assets and secure both immediate and potential long-term value through a net smelter return royalty on minerals produced from Tassa, enhancing its strategic positioning in the mining sector.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.48 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Bear Creek Mining Faces Operational Challenges in Q3 2025
Negative
Nov 11, 2025

Bear Creek Mining reported a Q3 2025 loss of $30.8 million, primarily due to non-cash items affecting its financials. The company’s production was impacted by operational challenges at its Mercedes mine, including ventilation issues and a development deficit. Despite these setbacks, Bear Creek is actively pursuing a strategic review to enhance value and optimize resources.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 14, 2026