Minera Alamos Inc (TSE:MAI)
:MAI
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Minera Alamos
(MAI)
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Rating:48Neutral
Price Target:
C$6.00
▼(-2.44% Downside)
Action:ReiteratedDate:01/04/26
The score is held down primarily by weak financial performance, led by severe cash burn and losses despite some revenue growth. Technicals are supportive of an ongoing uptrend but appear overbought, adding near-term pullback risk. Valuation is constrained by negative earnings (negative P/E) and no provided dividend yield.
Positive Factors
Business model / revenue source
Minera Alamos relies on a straightforward, durable gold-extraction revenue model focused on low-cost, efficient production. This alignment with physical gold sales provides a stable cash-generation pathway when operations are producing, and scales predictably with output and commodity cycles.
Negative Factors
Severe cash burn
Very large negative operating and free cash flows are a structural weakness: persistent outflows at this scale imply ongoing reliance on external financing. That elevates dilution and refinancing risk, constrains capital for project development, and threatens operational continuity without remedial action.
Read all positive and negative factors
Positive Factors
Negative Factors
Business model / revenue source
Minera Alamos relies on a straightforward, durable gold-extraction revenue model focused on low-cost, efficient production. This alignment with physical gold sales provides a stable cash-generation pathway when operations are producing, and scales predictably with output and commodity cycles.
Read all positive factors
Minera Alamos (MAI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$664.47M
Dividend YieldN/A
Average Volume (3M)2.38M
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth119.95%
EPS Growth-79.81%
CountryCA
Employees4
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.12
Shares Outstanding108,043,724
10 Day Avg. Volume2,125,583
30 Day Avg. Volume2,383,390
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)3.50
Price to Sales (P/S)13.13
P/FCF Ratio-11.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$9.50Price Target Upside54.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.34
Revenue Forecast (FY)C$199.00M
Minera Alamos Business Overview & Revenue Model
Company Description
Minera Alamos Inc., a junior mining exploration company, acquires, explores for, and develops mineral properties in Mexico. The company explores for gold, silver, molybdenum, and copper deposits. Its principal property is the 100% owned Santana pr...
How the Company Makes Money
Minera Alamos generates revenue primarily through the extraction and sale of gold. The company operates on a business model that focuses on low-cost, efficient production methods to maximize profitability. Its key revenue streams include the sale ...
Minera Alamos Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
54
Neutral
Cash Flow
9
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.59M | 8.92M | 13.42M | 21.73M | 897.91K | 0.00 |
| Gross Profit | -31.18M | 1.56M | 348.88K | 3.21M | 842.86K | -33.08K |
| EBITDA | -39.68M | -17.24M | -1.98M | 6.21M | -1.67M | 6.41M |
| Net Income | -39.99M | -17.57M | -2.86M | 5.61M | -1.75M | 6.10M |
Balance Sheet | ||||||
| Total Assets | 188.54M | 47.43M | 51.62M | 53.28M | 36.42M | 33.36M |
| Cash, Cash Equivalents and Short-Term Investments | 1.65M | 11.76M | 13.75M | 13.18M | 9.38M | 23.44M |
| Total Debt | 6.91M | 6.38M | 6.27M | 371.97K | 440.74K | 101.39K |
| Total Liabilities | 169.83M | 14.01M | 13.93M | 10.08M | 4.47M | 1.48M |
| Stockholders Equity | 18.71M | 33.43M | 37.69M | 43.21M | 31.95M | 31.88M |
Cash Flow | ||||||
| Free Cash Flow | -146.48M | -10.00M | -4.93M | -1.76M | -18.22M | -6.81M |
| Operating Cash Flow | -146.33M | -9.65M | -4.57M | 2.61M | -5.45M | -185.63K |
| Investing Cash Flow | 134.81M | -347.68K | -366.49K | -2.31M | -8.24M | -2.25M |
| Financing Cash Flow | 7.01M | 8.18M | 6.19M | 5.37M | 815.04K | 20.59M |
Minera Alamos Technical Analysis
Positive
6.15
Price Trends
6.07
Positive
5.41
Positive
4.64
Positive
Market Momentum
-0.05
Negative
52.79
Neutral
79.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAI, the sentiment is Positive. The current price of 6.15 is above the 20-day moving average (MA) of 6.02, above the 50-day MA of 6.07, and above the 200-day MA of 4.64, indicating a bullish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 52.79 is Neutral, neither overbought nor oversold. The STOCH value of 79.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MAI.
Minera Alamos Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$353.96M | ― | 25.27% | ― | 104.75% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | C$664.47M | -8.68 | -149.35% | ― | 119.95% | -79.81% | |
48 Neutral | C$411.81M | -32.45 | -50.63% | ― | ― | -166.59% | |
48 Neutral | C$408.47M | -37.29 | -15.78% | ― | ― | ― | |
46 Neutral | C$641.52M | -11.34 | -76.97% | ― | ― | 0.31% |
* General Sector Average
TSE:MAI
Minera Alamos
6.15
3.00
95.24%
TSE:VGZ
Vista Gold
2.87
1.89
192.86%
TSE:LGD
Liberty Gold
1.23
0.94
316.95%
TSE:WRLG
West Red Lake Gold Mines
0.99
0.42
73.68%
TSE:STGO
Steppe Gold
1.40
0.76
118.75%
Minera Alamos Corporate Events
Business Operations and Strategy
Minera Alamos Hires Velocity Trade to Support Liquidity in Its Shares
Positive
Feb 2, 2026
Minera Alamos has engaged Velocity Trade Capital to provide market-making services for its shares on the TSX Venture Exchange, aiming to reduce trading volatility and improve liquidity in its stock. Under the agreement, Velocity Trade will manage ...
Business Operations and Strategy
Strategic Investors Acquire Major Minera Alamos Stake in Secondary Share Sale
Positive
Jan 28, 2026
Minera Alamos announced that a subsidiary of Equinox Gold Corp. has agreed to sell 9,680,281 of the company’s common shares to a group of strategic investors at C$5.80 per share, for total proceeds of about C$56.1 million to the seller. The ...
Business Operations and StrategyFinancial Disclosures
Minera Alamos Beats Q4 Gold Forecast at Pan Mine, Lifts Cash to US$34 Million
Positive
Jan 15, 2026
Minera Alamos reported a strong inaugural quarter at its newly acquired Pan Operating Complex in Nevada, delivering fourth-quarter 2025 gold production of 9,165 ounces, above its 8,500–9,000-ounce forecast, and full-year 2025 production of 3...
Business Operations and StrategyFinancial Disclosures
Minera Alamos Beats Q4 Gold Forecast at Pan Mine, Lifts Cash to US$34 Million
Positive
Jan 15, 2026
Minera Alamos reported preliminary fourth-quarter 2025 production of 9,165 ounces of gold from its recently acquired Pan Operating Complex in Nevada, surpassing its forecast range and contributing to full-year output of 35,303 ounces, in line with...
Business Operations and StrategyStock Split
Minera Alamos Completes 10-for-1 Share Consolidation to Streamline Capital Structure
Positive
Jan 5, 2026
Minera Alamos has completed a 10-for-1 consolidation of its common shares, which began trading on a post-consolidation basis on the TSX Venture Exchange on January 5, 2026, reducing its issued and outstanding share count to 108,043,726. All outsta...
Business Operations and StrategyStock Split
Minera Alamos to Implement 10-for-1 Share Consolidation in Early January
Neutral
Dec 30, 2025
Minera Alamos announced a 10-for-1 consolidation of its common shares, reducing the number of issued and outstanding shares from approximately 1.08 billion to about 108 million, with fractional shares rounded down. The move, already approved by sh...
Business Operations and StrategyPrivate Placements and Financing
Minera Alamos Raises C$3.5 Million in Private Placement
Positive
Dec 9, 2025
Minera Alamos has successfully closed a private placement offering, raising C$3,500,000 through the issuance of 8,750,000 units. Each unit consists of one common share and one purchase warrant. Darren Blasutti, the company’s Executive Vice P...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A Transactions
Minera Alamos Strengthens Position with Nevada Assets Acquisition and Strategic Corporate Moves
Positive
Dec 1, 2025
Minera Alamos Inc. reported its third-quarter financial results for 2025, highlighting a transformative acquisition of Nevada assets, including the Pan Gold Mine, which aligns with the current strong gold price environment. The company is enhancin...
Business Operations and StrategyRegulatory Filings and Compliance
Minera Alamos Advances Copperstone Gold Mine Development Plans
Positive
Nov 6, 2025
Minera Alamos Inc. has announced updates on its Copperstone Mine project, with final amendments to the Mine Plan of Operations submitted and approvals expected by year-end. The company is preparing an updated technical study to support a full rest...
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.