Heliostar Metals (TSE:HSTR)
:HSTR
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Heliostar Metals
(HSTR)
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Rating:63Neutral
Price Target:
C$2.50
▲(8.23% Upside)
Action:DowngradedDate:03/31/26
The score is primarily supported by the sharp improvement in financial performance (profitability, strong revenue growth, and a low-debt balance sheet). Offsetting this, technical signals show weak near-term momentum, and valuation (P/E ~27.6) looks only moderate given the business’s historical volatility and cash-flow-to-earnings variability.
Positive Factors
Revenue and Margin Improvement
Sharp revenue inflection to ~$171.1M and ~76% YoY growth with gross ~35%, EBITDA ~27% and net ~13% margins indicates the company has scaled productive operations. Sustainable margins at this scale can fund project development, support reinvestment, and improve long-term free cash generation.
Negative Factors
Historical Volatility and Early-Stage Ramp
Prior years of no revenue and sizable losses reflect a company still in an early operational ramp. This historical volatility implies earnings and cash flows can swing widely as projects are advanced, complicating forecasting and making multi-period margin sustainability uncertain across commodity cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Improvement
Sharp revenue inflection to ~$171.1M and ~76% YoY growth with gross ~35%, EBITDA ~27% and net ~13% margins indicates the company has scaled productive operations. Sustainable margins at this scale can fund project development, support reinvestment, and improve long-term free cash generation.
Read all positive factors
Heliostar Metals (HSTR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$620.93M
Dividend YieldN/A
Average Volume (3M)718.07K
Price to Earnings (P/E)38.0
Beta (1Y)2.62
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees24
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)0.01
Shares Outstanding256,580,960
10 Day Avg. Volume891,030
30 Day Avg. Volume718,068
Financial Highlights & Ratios
PEG Ratio-0.76
Price to Book (P/B)7.96
Price to Sales (P/S)5.13
P/FCF Ratio52.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.25
Revenue Forecast (FY)C$226.37M
Heliostar Metals Business Overview & Revenue Model
Company Description
Heliostar Metals Ltd. engages in the acquisition, exploration, and development of mineral properties in North America. It explores for gold and silver deposits. The company holds 100% interests in the Unga Gold project that covers an area of 240 s...
How the Company Makes Money
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Heliostar Metals Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 124.57M | 36.57M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 43.83M | 18.58M | -186.69K | -28.84K | -52.80K |
| EBITDA | 33.67M | 31.11M | -17.77M | -3.60M | -11.40M |
| Net Income | 16.83M | 21.04M | -19.93M | -4.53M | -12.46M |
Balance Sheet | |||||
| Total Assets | 145.16M | 117.23M | 28.36M | 33.69M | 12.16M |
| Cash, Cash Equivalents and Short-Term Investments | 40.55M | 27.18M | 752.89K | 4.16M | 1.31M |
| Total Debt | 0.00 | 212.06K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 64.87M | 55.68M | 5.14M | 3.95M | 1.88M |
| Stockholders Equity | 80.30M | 61.54M | 23.22M | 29.74M | 10.28M |
Cash Flow | |||||
| Free Cash Flow | 12.17M | 5.26M | -14.91M | -5.73M | -10.47M |
| Operating Cash Flow | 16.22M | 5.85M | -14.80M | -5.61M | -10.12M |
| Investing Cash Flow | -7.95M | -1.27M | -85.75K | -14.17M | 1.06M |
| Financing Cash Flow | 4.87M | 22.01M | 11.51M | 22.73M | 9.00M |
Heliostar Metals Technical Analysis
Neutral
2.31
Price Trends
2.65
Negative
2.60
Negative
2.06
Positive
Market Momentum
-0.09
Negative
51.05
Neutral
87.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HSTR, the sentiment is Neutral. The current price of 2.31 is above the 20-day moving average (MA) of 2.29, below the 50-day MA of 2.65, and above the 200-day MA of 2.06, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 51.05 is Neutral, neither overbought nor oversold. The STOCH value of 87.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:HSTR.
Heliostar Metals Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$772.64M | 98.45 | 24.99% | ― | 45.36% | -14.35% | |
63 Neutral | C$620.93M | 37.95 | -28.50% | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$590.86M | -26.89 | -6.33% | ― | -5.94% | -153.35% | |
46 Neutral | C$690.92M | -3.94 | -11.57% | ― | ― | 50.54% |
* General Sector Average
TSE:HSTR
Heliostar Metals
2.42
1.55
178.16%
TSE:FF
First Mining Gold
0.50
0.38
316.67%
TSE:MKO
Mako Mining Corp
8.88
5.03
130.65%
TSE:JAG
Jaguar Mining
6.93
4.49
184.02%
Heliostar Metals Corporate Events
Business Operations and StrategyM&A Transactions
Heliostar to Acquire Utah’s Goldstrike Project, Adding Near-Million-Ounce Gold Resource
Positive
Mar 24, 2026
Heliostar Metals has agreed to acquire a 100% interest in the Goldstrike project in southwestern Utah from Liberty Gold, adding an indicated mineral resource of 975,000 ounces of gold at 0.46 g/t and an inferred 90,000 ounces at 0.31 g/t. The hist...
Business Operations and StrategyM&A Transactions
Heliostar to Buy Utah’s Goldstrike Project in US$72.5 Million Deal
Positive
Mar 23, 2026
Heliostar Metals has agreed to acquire a 100% interest in the Goldstrike gold project in Utah from Liberty Gold through the purchase of a chain of subsidiaries that ultimately own the asset. The Goldstrike property spans 5,173 hectares in the Bull...
Business Operations and StrategyFinancial Disclosures
Heliostar Posts Strong 2025 Results as Gold Output Ramps Up and Growth Spending Accelerates
Positive
Mar 19, 2026
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-...
Business Operations and StrategyFinancial Disclosures
Heliostar Expands Drilling at San Agustin After New Gold Hits
Positive
Mar 17, 2026
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 r...
Business Operations and StrategyExecutive/Board Changes
Heliostar Strengthens Board With New Audit Chair and Director Incentives
Positive
Mar 17, 2026
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 i...
Business Operations and StrategyM&A Transactions
Heliostar Options Non-Core Mexican Exploration Assets to Zacatecas Silver
Positive
Mar 2, 2026
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 shift...
Business Operations and Strategy
Heliostar Extends High-Grade Gold Mineralization at Ana Paula Expansion Zone
Positive
Feb 24, 2026
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-gra...
Business Operations and StrategyFinancial Disclosures
Heliostar Marks First Gold Pour in San Agustin Mine Restart, Lifts 2026 Output Outlook
Positive
Feb 5, 2026
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 ...
Business Operations and StrategyRegulatory Filings and Compliance
Heliostar Files NI 43-101 Prefeasibility Study for Cerro del Gallo Project in Mexico
Positive
Jan 26, 2026
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 ...
Business Operations and StrategyFinancial Disclosures
Heliostar Sets 2026 Output Guidance and Funds $27 Million Growth Program From Operations
Positive
Jan 13, 2026
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 cos...
Business Operations and StrategyFinancial Disclosures
Heliostar Meets 2025 Output Targets and Ends Year With US$41M Cash, No Debt
Positive
Jan 7, 2026
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...
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.