Denarius Metals Corp (TSE:DMET)
NEO-L:DMET
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Denarius Metals Corp
(NEO-L:DMET)
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Rating:47Neutral
Price Target:
C$0.57
▼(-1.55% Downside)
Action:ReiteratedDate:04/06/26
The score is held down primarily by weak financial performance, driven by large operating/net losses, negative free cash flow, and rising leverage. Technicals are mixed-to-neutral with the stock at key moving averages but an extremely overbought RSI. Valuation also remains challenged due to negative earnings and no provided dividend yield.
Positive Factors
Asset base & positive equity
A sizable asset base (~$112.6M) and positive equity (~$40M) provide tangible resources and collateral to advance projects, secure project-level financing or JV partnerships, and offer a balance-sheet buffer that supports multi-year exploration and development timelines.
Negative Factors
Rising leverage
Debt doubling to ~$60.6M and a debt/equity of ~1.52 materially reduces financial flexibility. High leverage increases refinancing and interest-rate risk, limits ability to fund exploration internally, and raises the chance of covenant pressure or dilutive financing needs over a multi-quarter horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset base & positive equity
A sizable asset base (~$112.6M) and positive equity (~$40M) provide tangible resources and collateral to advance projects, secure project-level financing or JV partnerships, and offer a balance-sheet buffer that supports multi-year exploration and development timelines.
Read all positive factors
Denarius Metals Corp (DMET) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$36.29M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)N/A
Revenue GrowthN/A
EPS Growth-72.13%
CountryCA
Employees53
SectorGeneral
Sector StrengthN/A
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.10
Shares Outstanding153,786,090
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.51
Price to Sales (P/S)36.34
P/FCF Ratio-4.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.79Price Target Upside208.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.62
Revenue Forecast (FY)C$296.85M
Denarius Metals Corp Business Overview & Revenue Model
Company Description
Denarius Metals Corp. engages in the acquisition, exploration, development, and operation of mining properties in Spain and Colombia. The company explores for gold, silver, copper, lead, and zinc deposits. It holds a 100% interest in the Lomero pr...
How the Company Makes Money
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Denarius Metals Corp Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
15
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.66M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 552.00K | 0.00 | -252.55K | -129.65K | -56.50K |
| EBITDA | -29.03M | -4.62M | -3.99M | -2.97M | -5.84M |
| Net Income | -31.15M | -9.84M | -14.70M | -7.13M | -25.22M |
Balance Sheet | |||||
| Total Assets | 112.62M | 81.05M | 89.44M | 43.80M | 48.70M |
| Cash, Cash Equivalents and Short-Term Investments | 6.90M | 1.13M | 7.63M | 1.79M | 15.15M |
| Total Debt | 60.59M | 30.70M | 23.02M | 226.90K | 65.91K |
| Total Liabilities | 72.65M | 41.38M | 50.76M | 7.09M | 1.65M |
| Stockholders Equity | 39.97M | 39.67M | 36.37M | 36.68M | 47.05M |
Cash Flow | |||||
| Free Cash Flow | -12.08M | -15.84M | -17.59M | -11.90M | -6.65M |
| Operating Cash Flow | -4.72M | -4.05M | -2.57M | -3.17M | -4.75M |
| Investing Cash Flow | -10.89M | -22.14M | -15.67M | -9.13M | -7.23M |
| Financing Cash Flow | 21.14M | 20.00M | 24.66M | -72.03K | 27.05M |
Denarius Metals Corp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$70.49M | -7.58 | -50.14% | ― | ― | 50.93% | |
49 Neutral | C$36.04M | -2.02 | ― | ― | ― | 70.07% | |
47 Neutral | C$36.29M | -1.93 | -53.21% | ― | ― | -72.13% | |
44 Neutral | C$37.86M | -6.07 | -51.11% | ― | ― | 43.37% | |
41 Neutral | C$27.17M | -11.11 | -162.44% | ― | ― | 31.98% | |
40 Underperform | C$30.57M | -1,187.78 | -1239.88% | ― | ― | 38.81% |
* General Sector Average
TSE:DMET
Denarius Metals Corp
0.58
0.00
0.00%
TSE:BBB
Brixton Metals
0.94
0.39
70.91%
TSE:WEX
Western Exploration Inc
0.69
-0.12
-14.81%
TSE:GBU
Gabriel Resources
0.14
0.05
50.00%
TSE:MRZ
Mirasol Resources
0.33
-0.03
-8.33%
TSE:TSLV
Tier One Silver
0.10
>-0.01
-5.00%
Denarius Metals Corp Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Denarius Metals Reports 2025 Results as Zancudo Moves Toward Commercial Output
Positive
Apr 1, 2026
Denarius Metals has filed its audited 2025 annual financial statements, MDA and AIF, confirming that it generated US$1.7 million in revenue last year from early-stage output at its Zancudo gold-silver project in Colombia, including sales of 333 ou...
Business Operations and StrategyFinancial Disclosures
Denarius Metals’ Zancudo PEA Signals High-Return, Long-Life Gold-Silver Mine in Colombia
Positive
Mar 30, 2026
Denarius Metals has released a positive Preliminary Economic Assessment for its fully owned Zancudo Project in Colombia, centered on the historic underground Independencia Mine near Medellin. The study, based on an updated mineral resource estimat...
Business Operations and StrategyPrivate Placements and Financing
Denarius Metals to Pay March Debenture Interest in Shares, Preserving Cash for Mine Development
Neutral
Mar 27, 2026
Denarius Metals said it will settle the March 31, 2026 monthly interest payments on its 2023 and 2024 convertible unsecured debentures by issuing 392,630 common shares, based on a reference price of C$0.87. The issuance covers total outstanding de...
Delistings and Listing ChangesFinancial DisclosuresPrivate Placements and Financing
Denarius Metals Clarifies Capital Structure After Warrant Expiry
Positive
Mar 18, 2026
Denarius Metals Corp. has updated investors on its capital structure following the expiry and delisting of its listed warrants, reporting that it raised about CA$18.7 million in cash this year from the exercise of roughly 30.2 million warrants. As...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Denarius Metals Bolsters Balance Sheet as Zancudo Ramp-Up and Aguablanca Restart Advance
Positive
Mar 9, 2026
Denarius Metals has strengthened its balance sheet with approximately CA$16.7 million in cash proceeds from the exercise of about 27.7 million warrants since the start of 2026, bringing its issued and outstanding common shares to 189.4 million and...
Business Operations and StrategyPrivate Placements and Financing
Denarius Metals to Settle February Debenture Interest with Share Issuance
Neutral
Feb 27, 2026
Denarius Metals Corp. has detailed the upcoming February 28, 2026 monthly interest payments on its 2023 and 2024 convertible unsecured debentures, which will be settled through the issuance of 632,572 common shares on March 2, 2026. The share-base...
Business Operations and Strategy
Denarius Metals Strikes Saudi JV to Expand Processing and Mining Footprint
Positive
Feb 20, 2026
Denarius Metals has entered a strategic joint venture with Saudi-based ProGrowth Ltd. to establish processing, smelting and commercialization arrangements in Saudi Arabia for material from its Lomero and Toral projects in Spain. The partnership al...
Business Operations and StrategyPrivate Placements and Financing
Denarius Metals to Settle Debenture Interest and Gold Premiums with Share Issuance Amid Gold Price Surge
Negative
Jan 30, 2026
Denarius Metals has detailed the upcoming January 31, 2026 payments on its convertible unsecured debentures, confirming that monthly interest due on its 2023 and 2024 debentures and the first quarterly gold premium on the 2023 debentures will be s...
Business Operations and StrategyPrivate Placements and Financing
Denarius-Backed JV Launches US$20 Million Note Offering to Restart Aguablanca Nickel-Copper Mine
Positive
Jan 28, 2026
Rio Narcea Recursos S.A., the Denarius Metals-led joint venture that owns the Aguablanca nickel-copper project in Spain, has launched a “best efforts” marketed offering of up to US$20 million in 12% secured notes to finance the restart...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Denarius Metals Ramps Up Zancudo Output as Warrant Exercises Boost Cash
Positive
Jan 20, 2026
Denarius Metals reported initial 2025 production results from the early production phase at its Zancudo gold-silver project in Colombia, where it began mining in the second quarter and shipped 2,093 tonnes of crushed material to Trafigura, generat...
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.