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Heliostar Metals
(HSTR)
Heliostar Metals (HSTR) vs. iShares MSCI Canada ETF (EWC)
Heliostar Metals Business Overview & Revenue Model
Heliostar Metals Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.19M | 36.57M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 49.98M | 18.58M | -186.69K | -28.84K | -52.80K | -9.96K |
| EBITDA | 76.18M | 31.11M | -17.77M | -3.60M | -11.40M | -8.91M |
| Net Income | 55.56M | 21.04M | -19.93M | -4.53M | -12.46M | -8.26M |
Balance Sheet | ||||||
| Total Assets | 129.88M | 117.23M | 28.36M | 33.69M | 12.16M | 13.12M |
| Cash, Cash Equivalents and Short-Term Investments | 34.58M | 27.18M | 752.89K | 4.16M | 1.31M | 2.90M |
| Total Debt | 0.00 | 212.06K | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 62.38M | 55.68M | 5.14M | 3.95M | 1.88M | 453.62K |
| Stockholders Equity | 67.50M | 61.54M | 23.22M | 29.74M | 10.28M | 12.67M |
Cash Flow | ||||||
| Free Cash Flow | 16.98M | 5.26M | -14.91M | -5.73M | -10.47M | -8.11M |
| Operating Cash Flow | 18.61M | 5.85M | -14.80M | -5.61M | -10.12M | -7.83M |
| Investing Cash Flow | -2.31M | -1.27M | -85.75K | -14.17M | 1.06M | 2.20M |
| Financing Cash Flow | 21.46M | 22.01M | 11.51M | 22.73M | 9.00M | 6.81M |
Heliostar Metals Technical Analysis
Heliostar Metals Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$469.54M | 90.93 | 72.25% | ― | ― | ― | |
71 Outperform | C$679.54M | 98.45 | 24.99% | ― | 45.36% | -14.35% | |
56 Neutral | C$544.82M | 6.23 | -6.33% | ― | -5.94% | -153.35% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$791.25M | -28.84 | -8.84% | ― | ― | 54.00% | |
47 Neutral | C$534.56M | -3.94 | -11.85% | ― | ― | 50.54% |
Heliostar Metals Corporate Events
Heliostar Metals reported audited results for its shortened fiscal 2025, highlighting a shift from residual leaching to full gold production and the successful restart of operations at La Colorada and San Agustin. The company produced 34,098 gold-equivalent ounces in calendar 2025, met its cost guidance with total cash costs of $1,541 per GEO and AISC of $2,028 per GEO, and generated $65.9 million in mine operating earnings from non-reserve ounces acquired in late 2024.
For the nine months ended December 31, 2025, Heliostar delivered mine operating earnings of $47.4 million and net income of $12.4 million, while ending the period with $40.6 million in cash, $49.0 million in working capital, and no debt. Management emphasized that cash from operations will fund a planned $27 million exploration program and production growth initiatives, including pit stripping at Veta Madre, advancing the Ana Paula underground decline, and extending mine life at San Agustin to support output growth into 2027 and beyond.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals reported initial 2026 drill results from its 100% owned San Agustin Mine in Durango, Mexico, highlighting multiple oxide gold intercepts extending more than 200 metres beyond the current reserve pit. The company has expanded its resource and reserve drilling program to 15,000–18,000 metres this year, supported by a second rig, to define additional oxide resources that could justify a pit layback and extend mine life.
Management said the new intercepts in the Corner Expansion, Phase 3 SW and MKT zones show grades comparable to the current mine plan and confirm the potential for production growth at San Agustin. Stronger cash generation from an extended mine life is positioned as a key pillar in Heliostar’s strategy to fund construction of its Ana Paula project in 2027–28 without turning to equity markets, which could be significant for existing shareholders.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals has appointed mining industry veteran Tara Gilfillan as a non-executive director and Audit Chair, adding more than three decades of financial oversight, capital markets, and governance experience to its board. Her appointment is intended to bolster the company’s audit and risk management capabilities as it targets disciplined growth and expanded production in the precious metals sector.
To further align director incentives with shareholder interests, Heliostar granted 200,000 stock options with a five-year term and 50,000 restricted share units under its omnibus equity incentive plan. The equity awards will vest over three years, underscoring the board’s longer-term commitment to the company’s next phase of operational scaling and project advancement.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals has signed a binding option agreement granting Zacatecas Silver the right to acquire four non-core Mexican exploration projects: Cumaro, La Lola, Oso Negro and Ejutla. The assets have seen limited exploration since Heliostar shifted focus to production and advanced development, but are described as highly prospective.
Under the deal, Heliostar will receive staged payments over three years totaling $450,000 in cash and $750,000 in Zacatecas Silver shares, including an initial $150,000 in cash and $300,000 in shares at closing. The company will retain a 2% net smelter return royalty on the properties, with half of that royalty purchasable before commercial production, allowing Heliostar to monetize non-core assets while preserving upside exposure as it concentrates capital on its core Mexican mines and projects.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals reported strong new drilling results from the Ana Paula project, including a 25.45 metre interval grading 8.26 grams per tonne gold in its first down-dip test of the Expansion Zone beneath the High Grade Panel. Additional high-grade intercepts near surface and at depth will be incorporated into a forthcoming resource update for the feasibility study, with mineralization remaining open to the north, northwest and at depth.
The company has now completed 72 holes totaling 23,979 metres in the current program, with 34 holes still awaiting assays as drilling continues across the High Grade Panel, its margins and the deeper Expansion Zone. Data from the campaign, including rock strength, hydrogeologic and metallurgical samples, is intended to refine Ana Paula’s mine design and could expand the planned mining inventory if step-out drilling continues to confirm extensions of high-grade gold mineralization.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals has achieved the first official gold pour from its fully owned San Agustin mine in Mexico following a successful restart of operations in late January 2026, with mining, crushing and stacking of new ore resumed on schedule and on budget in the fourth quarter of 2025. The operation is ramping up ahead of internal targets for ore mining rates and recoverable ounces, supporting 2026 production guidance of 30,000–32,700 ounces of gold and contributing to a more than 60% increase in the company’s consolidated production guidance while maintaining an all-in sustaining cost of about $2,000 per ounce; management expects cash flow from San Agustin at budgeted gold prices to fund exploration, capital programs such as a pit expansion at La Colorada and decline development at Ana Paula, and is advancing a 10,000–15,000 metre drill program at San Agustin aimed at extending mine life.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals has filed a National Instrument 43-101 compliant Prefeasibility Study Technical Report for its Cerro del Gallo gold project in Guanajuato, Mexico, formalizing an important step in advancing the asset’s development. Prepared by Kappes, Cassiday & Associates and now available on Canadian securities and company websites, the study supports Heliostar’s broader strategy of building a pipeline of Mexican gold projects that can underpin its ambition to become a mid-tier producer, potentially enhancing its project portfolio quality and visibility among investors and industry partners.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals has issued its 2026 guidance, forecasting consolidated gold production of 50,000–55,000 ounces and 290,000–320,000 ounces of silver, with by-product cash costs of $1,850–$1,950 per ounce and all-in sustaining costs of $2,025–$2,125 per ounce. The company plans to fund a US$27 million exploration and growth program from operating cash flow, including pre-stripping for the Veta Madre open-pit expansion at La Colorada, continued steady-state output at the recently restarted San Agustin mine, and further advancement of the Ana Paula feasibility study and access decline, positioning the business for higher production and potential reserve growth from 2027 onward despite cost pressures from inflation and contractor expenses.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.
Heliostar Metals reported 2025 production of 34,098 gold equivalent ounces, comprising 32,990 ounces of gold and 80,527 ounces of silver, meeting its full-year guidance range. The company ended 2025 with a preliminary cash balance of US$41 million and no debt, underpinning plans to ramp up output in 2026 following the successful restart of the La Colorada and San Agustin mines, while advancing the Ana Paula project through feasibility work as it pursues a long-term scale-up toward significantly higher annual production.
The most recent analyst rating on (TSE:HSTR) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Heliostar Metals stock, see the TSE:HSTR Stock Forecast page.