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Capitan Silver (TSE:CAPT)
:CAPT

Capitan Silver (CAPT) AI Stock Analysis

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TSE:CAPT

Capitan Silver

(CAPT)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
C$2.50
▲(10.13% Upside)
Action:ReiteratedDate:02/06/26
The score is primarily weighed down by weak financial performance—no revenue, widening losses, and sharply higher cash burn that increases future funding/dilution risk—partly offset by a debt-free balance sheet and higher equity. Technical indicators are broadly neutral with limited momentum, and valuation is difficult to support given negative earnings and no dividend.
Positive Factors
Debt-free balance sheet; larger equity base
A zero-debt capital structure and a materially larger equity base in 2025 reduce refinancing and interest-rate risk and provide durable financial flexibility to fund exploration, support JV negotiations, or absorb near-term dilution, improving runway vs highly levered peers.
Focused project advancement (Cruz de Plata)
A clear technical focus on the Cruz de Plata project with active mapping, sampling and drilling provides a structured exploration program and milestones. Persistent technical work increases the chance of defining resources and enables durable options like JV, sale, or financing tied to drill results.
Multiple monetization pathways and capital-market access
Defined, established routes to monetize an exploration asset (sale, JV, royalties/streaming, or development) combined with a history of raising equity create lasting strategic optionality. This reduces single-path execution risk and supports sustainable funding strategies over months.
Negative Factors
No revenue and widening net losses
Absence of operating revenue and growing net losses reflect a structurally negative profitability profile typical of exploration stage. Without revenue, margins are undefined and the company remains dependent on external funding, leaving sustained profitability uncertain over the medium term.
Deteriorating operating and free cash flow
A marked step-up in cash burn and materially negative FCF increases near-term funding needs and the likelihood of equity dilution. Persistent negative cash generation weakens financial resilience and could force financing decisions that dilute shareholders or slow exploration progress.
Exploration-stage funding and execution risk
Reliance on capital markets and the absence of operating cash inflows create ongoing funding and execution risk. Even with a larger equity base, the company must consistently access capital to sustain programs; inability to do so would delay milestones or force unfavorable transactions.

Capitan Silver (CAPT) vs. iShares MSCI Canada ETF (EWC)

Capitan Silver Business Overview & Revenue Model

Company DescriptionCapitan Mining Inc. engages in the acquisition and exploration of mineral properties in Mexico. The company focuses on its 100% owned Penoles gold and silver project located in Durango, Mexico. Capitan Mining Inc. was incorporated in 2019 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyCapitan Mining makes money through the exploration and development of mineral properties, with a focus on discovering economically viable gold and silver deposits. The company generates revenue by advancing its projects to a stage where they can be sold or partnered with larger mining companies for further development. This includes entering into joint ventures, selling exploration rights, or developing the mines themselves to produce precious metals, which are then sold on the market. Key factors contributing to its earnings include the quality and size of its mineral deposits, the price of gold and silver in global markets, and strategic partnerships with other mining entities.

Capitan Silver Financial Statement Overview

Summary
Exploration-stage profile with no revenue and structurally negative profitability. Losses widened in the latest year and operating/free cash flow deteriorated materially, increasing funding and dilution risk. Offsetting positives include a debt-free balance sheet and a much larger equity base in 2025 that improves financial flexibility.
Income Statement
18
Very Negative
The company reports no revenue across the annual periods provided, consistent with an exploration-stage profile. Losses have widened in the most recent year (net loss of ~1.50M in 2025 vs ~1.31M in 2024), indicating higher spending without offsetting operating inflows. Profitability remains structurally weak (negative EBIT/EBITDA each year), and with no revenue base, there is limited visibility into near-term margin improvement.
Balance Sheet
67
Positive
Balance sheet leverage is very conservative with total debt at 0 across all periods, reducing refinancing and interest-rate risk. Equity increased materially in 2025 (~24.56M vs ~11.90M in 2024), supporting a stronger asset base (assets ~28.10M in 2025). The key weakness is persistent negative returns on equity (loss-making operations), meaning the company is funding growth primarily through equity while not yet generating earnings.
Cash Flow
24
Negative
Cash generation remains weak: operating cash flow is negative each year and deteriorated in 2025 (about -2.80M vs -0.83M in 2024). Free cash flow is also consistently negative and significantly worse in 2025 (about -8.09M vs -1.97M in 2024), pointing to elevated cash burn. While cash burn can be typical for early-stage miners, the step-up in outflows raises funding needs and increases dilution risk if sustained.
BreakdownSep 2025Dec 2024Dec 2023Dec 2022Sep 2021
Income Statement
Total Revenue0.000.000.000.000.00
Gross Profit-851.000.00-1.10K-511.000.00
EBITDA-1.73M-1.10M-745.31K-659.92K-931.29K
Net Income-1.50M-1.31M-746.41K-660.43K-918.76K
Balance Sheet
Total Assets28.10M11.95M11.75M8.58M8.79M
Cash, Cash Equivalents and Short-Term Investments4.90M568.42K521.61K78.88K2.71M
Total Debt0.000.000.000.000.00
Total Liabilities3.54M47.46K49.87K278.09K200.12K
Stockholders Equity24.56M11.90M11.70M8.30M8.59M
Cash Flow
Free Cash Flow-8.09M-1.97M-2.76M-2.63M-2.98M
Operating Cash Flow-2.80M-833.54K-1.18M-361.76K-1.04M
Investing Cash Flow-5.30M-1.14M-1.58M-2.27M-1.96M
Financing Cash Flow12.42M2.02M3.20M0.003.40M

Capitan Silver Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2.27
Price Trends
50DMA
2.17
Positive
100DMA
1.96
Positive
200DMA
1.49
Positive
Market Momentum
MACD
0.04
Negative
RSI
53.48
Neutral
STOCH
83.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CAPT, the sentiment is Positive. The current price of 2.27 is above the 20-day moving average (MA) of 2.20, above the 50-day MA of 2.17, and above the 200-day MA of 1.49, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 53.48 is Neutral, neither overbought nor oversold. The STOCH value of 83.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CAPT.

Capitan Silver 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%
61
Neutral
C$423.99M381.032.04%694.29%
54
Neutral
C$322.00M-8.39-9.95%-285.42%
53
Neutral
C$524.61M-88.29-4.86%-14.43%
52
Neutral
C$305.93M-32.92-19.63%-34.83%
47
Neutral
C$681.59M-23.77-151.33%-198.87%
46
Neutral
$294.32M-146.45-6.80%14.37%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:CAPT
Capitan Silver
2.27
1.85
443.06%
TSE:BRC
Blackrock Silver
1.89
1.56
464.18%
TSE:SLVR
Silver Tiger Metals
0.98
0.64
184.06%
TSE:SSV
Southern Silver Exploration
0.79
0.57
251.11%
TSE:SM
Sierra Madre Gold & Silver Ltd.
2.21
1.67
309.26%
TSE:AGMR
Silver Mountain Resources, Inc. Class A
5.43
4.75
698.53%

Capitan Silver Corporate Events

Business Operations and StrategyFinancial Disclosures
Capitan Silver Joins TSX Venture 50 After Breakout Year in 2025
Positive
Feb 18, 2026

Capitan Silver Corp., a silver-focused exploration company advancing its Cruz de Plata project in Mexico’s key silver-producing region, has been recognized as one of the top-performing issuers on the TSX Venture Exchange. Backed by an experienced team and a concentrated shareholder base, the company has emphasized disciplined capital structure management while pushing forward with active drilling.

The company was named to the TSX Venture 50 after its shares surged roughly 598% and its market capitalization grew about 931% in 2025, reflecting strong investor response to operational milestones. Management highlighted the restart and expansion of drilling, a new strategic investment from Jupiter Gold & Silver Fund, and high-grade results at Cruz de Plata as key drivers, and said these achievements underpin its largest drilling program to date and a stronger platform for future value creation.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and Strategy
Capitan Silver Extends High-Grade Mineralization at Cruz de Plata With New Drill Results
Positive
Feb 10, 2026

Capitan Silver reported strong assay results from nine reverse circulation drill holes at its Cruz de Plata project, including a highlight intercept of 1,833.1 grams per tonne silver equivalent over 1.5 metres within 21.3 metres grading 340.4 g/t AgEq. The latest drilling extends high-grade mineralization both east and west of the Peñoles Fault, confirming continuity along the Jesus Maria Silver Trend and indicating that the system remains open at depth and along strike.

Additional holes, including intercepts of 1,254.8 g/t AgEq and 381.4 g/t AgEq over 1.5 metres in separate areas, have expanded known zones down-dip and up-dip toward surface, while widely spaced drilling continues to return intervals above 100 g/t AgEq. With a second drill rig now on site and final assays pending from 24 holes, Capitan is increasing its exploration pace, which could enhance the scale and confidence of the Cruz de Plata resource potential for investors and project stakeholders.

The most recent analyst rating on (TSE:CAPT) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and Strategy
Capitan Silver Ramps Up Largest Drill Program Yet at Cruz de Plata
Positive
Feb 9, 2026

Capitan Silver Corp. has mobilized a second drill rig to its Cruz de Plata silver-gold project in Durango, Mexico, marking the start of an expanded 60,000-metre drilling campaign for 2026, the largest in the company’s history and four times the size of its 2025 program. The newly arrived core rig, one of three planned, will work alongside an existing reverse circulation rig to test high-priority targets along the Jesús María Silver Trend, including the Gully Fault and Peñoles Fault, with a focus on extending advanced high-grade mineralized zones.

The initial focus of the core rig is on expanding a newly defined high-grade silver zone near the Peñoles fault, where previous holes returned exceptionally high silver and silver-equivalent grades over significant widths, suggesting strong potential for resource growth at depth and down plunge. These results, combined with the aggressive drill program and robust metallurgical recoveries for silver, gold, lead and zinc, underscore Capitan Silver’s strategy to rapidly advance Cruz de Plata as a significant high-grade silver system, potentially enhancing its standing among Mexican silver explorers and offering increased leverage for existing shareholders.

The most recent analyst rating on (TSE:CAPT) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and Strategy
Capitan Silver Extends High-Grade Zone and Unveils New Discovery at Cruz de Plata
Positive
Feb 2, 2026

Capitan Silver reported new assay results from eight reverse circulation drill holes at its Cruz de Plata project, highlighted by an intercept of 1,130.1 g/t silver equivalent over 1.5 metres within a broader interval of 240.5 g/t silver equivalent over 25.9 metres at the Jesús María trend. Step-out holes 25-ERRC-36 and 25-ERRC-46 extended high-grade mineralization 60 to 90 metres and 50 metres down-dip respectively, confirming continuity between earlier holes and showing that the newly defined high-grade zone remains open at depth and down-plunge. The company also announced a new silver discovery at the Encarnación zone, located southeast of the main Jesús María trend, and noted that a 60,000-metre, multi-rig drill program is underway with additional core rigs being mobilized and 33 holes still pending assays, setting up a steady pipeline of results that could further define the scale of this high-grade silver-gold system.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Capitan Silver Ramps Up Cruz de Plata With 60,000-Metre 2026 Drill Campaign
Positive
Jan 20, 2026

Capitan Silver Corp. has launched a 60,000-metre multi-rig drilling program for 2026 at its Cruz de Plata silver-gold project in Durango, Mexico, marking a 400% increase over its prior-year plan and more than doubling all historical drilling on the property. The program, funded by C$29 million recently raised from institutional investors, will deploy up to four rigs to expand advanced silver zones along the 3.7-km Jesus Maria trend, test multiple new high-grade silver and gold targets, and conduct infill drilling at the Capitan Hill gold deposit, alongside broader mapping, trenching and geophysical work. Following a year of renewed activity in 2025 that included land consolidation, a key royalty buyback and drilling that confirmed continuity and growth of the mineralized system, the 2026 campaign is intended to advance Cruz de Plata toward an initial silver resource and strengthen Capitan Silver’s position in the silver exploration space.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Capitan Silver Quadruples Drilling at Cruz de Plata as 2026 Exploration Ramps Up
Positive
Jan 20, 2026

Capitan Silver Corp. has launched an expanded 60,000-metre, multi-rig drilling program for 2026 at its Cruz de Plata silver-gold project in Durango, Mexico, a fourfold increase over its 2025 plan. The campaign will deploy a combination of reverse circulation and core drilling across high-priority silver and gold targets, including the Jesus Maria Silver Trend, Casco Norte, La Purisima, Capitan Hill, La Providencia and El Tubo, with objectives ranging from extending known high-grade zones to infill drilling aimed at upgrading resources. Supported by C$29 million in recently raised funding from institutional investors, Capitan is well financed to execute its exploration strategy and follow up on 2025 drilling that confirmed continuity and growth of the mineralized system, with pending assay results and a property-wide geophysical survey expected to provide further catalysts as the company advances Cruz de Plata toward an initial silver resource and strengthens its position in the silver exploration space.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Capitan Silver Secures C$6 Million Schroders Investment, Capping C$29 Million December Financing
Positive
Jan 6, 2026

Capitan Silver Corp. has closed a C$6 million non-brokered private placement with Schroder Investment Management Limited, which acquired nearly 3 million common shares at C$2.03 each. Combined with a recently completed C$23 million bought deal financing at the same issue price, the company raised approximately C$29 million in December 2025, strengthening its balance sheet to fund exploration at the Cruz de Plata silver-gold project and support general corporate needs, while further validating institutional interest in the junior silver explorer.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Capitan Silver Secures C$6 Million Schroders Investment, Lifting Equity Raise to C$29 Million
Positive
Dec 23, 2025

Capitan Silver Corp. has secured a C$6 million non-brokered private placement from Schroder Investment Management, which, combined with a recently completed C$23 million bought-deal financing, lifts its total recent equity raise to about C$29 million through the issuance of roughly 14.3 million common shares at C$2.03 each. Management says the investment by Schroders’ Global Gold Fund and the successful bought-deal have broadened the company’s institutional shareholder base and enhanced its capital markets profile, with net proceeds earmarked primarily for exploration at the Cruz de Plata silver-gold project in Mexico and for general corporate purposes, reinforcing Capitan Silver’s funding position as it advances drilling and project growth plans.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$2.40 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Capitan Silver Secures C$23 Million in Bought Deal Financing to Advance Gold-Silver Exploration
Positive
Dec 17, 2025

Capitan Silver announced the successful closing of a C$23 million bought deal financing, facilitated by key underwriters such as Stifel Canada. The funds will be primarily allocated towards exploration at the Cruz de Plata project and general corporate purposes. With substantial insider participation and adherence to securities regulations, this financing reinforces the company’s growth and exploration initiatives, contributing to its positioning in the precious metals market.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$2.40 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Private Placements and Financing
Capitan Silver Secures $20 Million Financing for Cruz de Plata Project
Positive
Dec 8, 2025

Capitan Silver Corp. has announced a $20 million bought deal financing agreement with Stifel Canada to fund exploration activities at its Cruz de Plata gold-silver project. The offering involves the private placement of 9,855,000 common shares at C$2.03 each, with an option for underwriters to purchase additional shares. The proceeds will support exploration and general corporate purposes, with the offering expected to close by December 17, 2025, subject to regulatory approvals.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$2.40 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Business Operations and Strategy
Capitan Silver Corp. Reports Major Increase in Gold Resources at Capitan Hill
Positive
Dec 5, 2025

Capitan Silver Corp. has announced a significant update to its Mineral Resource Estimate (MRE) for the Capitan Hill Oxide Gold Deposit, part of its Cruz de Plata project in Mexico. The updated MRE shows a 115% increase in inferred gold resources, now totaling 525,000 troy ounces, compared to previous estimates. This growth highlights the quality of the deposit and enhances the project’s value, despite silver remaining the company’s main focus. The announcement also includes ongoing drilling activities and a property-wide geophysical survey, which are expected to further define and expand the resource potential.

The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$2.40 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT 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: Feb 06, 2026