Monument Mining (MMY) AI Stock Analysis

• Market Cap: C$325.34M
• Dividend Yield: N/A
• Average Volume (3M): 542.26K
• Price to Earnings (P/E): 3.7
• Beta (1Y): 1.31
• Revenue Growth: 78.96%
• EPS Growth: 376.52%
• Country: CA
• Employees: 255
• Sector: General
• Sector Strength: N/A
• Industry: Gold
• EPS (TTM): 0.08
• Shares Outstanding: 346,101,700
• 10 Day Avg. Volume: 1,008,580
• 30 Day Avg. Volume: 542,265
• PEG Ratio: <0.01
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 0.94
• P/FCF Ratio: 2.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$2.10
• Price Target Upside: 123.40% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.25
• Revenue Forecast (FY): C$192.01M

• Rating: 78 Outperform
• Price Target: C$1.00 ▲(6.38% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is driven primarily by strong financial performance (rapid TTM growth, exceptional margins, solid free cash flow, and minimal leverage) and a very low P/E valuation. These positives are tempered by weaker near-term technical momentum and the company’s historically volatile earnings and cash flow profile.

Positive Factors

High margins and strong recent profitability

Sustained high gross and net margins imply structurally low unit costs or favorable realized pricing versus peers, supporting durable cash generation and reinvestment. Over 2–6 months this margin profile underpins resilience to modest volume swings and funds growth or debt-light capital allocation.

Solid operating and free cash flow generation

Consistent, sizeable operating and free cash flow, and improved FCF year-over-year, provide financial flexibility to fund sustaining capex, exploration and shareholder returns without dependence on new financing. This durable cash conversion supports long-term operational plans and risk management.

Very low leverage and conservative balance sheet

Near-zero debt yields strong liquidity and financing optionality, allowing the company to withstand commodity cycles, fund development or opportunistic M&A, and avoid refinancing risk. This structural balance-sheet strength reduces default and interest-rate vulnerability.

Negative Factors

Multi-year earnings and cash-flow volatility

A history of sharp swings from losses to profits indicates operations and earnings are cyclical and hard to forecast. That volatility can disrupt capital allocation, require precautionary liquidity buffers, and raises execution risk for sustaining investments during downturns.

High sensitivity to gold price and operational inputs

Business economics are tightly linked to commodity prices and mining parameters (grades, recovery, throughput). These structural exposures mean that even with strong margins today, adverse price moves or lower grades can quickly erode profitability and cash flow over a multimonth horizon.

Limited revenue diversification or hedging protection

Reliance solely on spot gold sales and no material offtakes or hedges increases earnings volatility and market-price exposure. Structurally, absence of contractual revenue anchors or hedging reduces downside protection and forces full dependence on operational performance and gold markets.

Monument Mining Business Overview & Revenue Model

Company Description

Monument Mining Limited operates as a gold producer and mining asset developer in Canada, Australia, and Malaysia. The company holds 100% interest in the Selinsing gold mine, including the Selinsing, Buffalo Reef, Felda Land, Peranggih, and Famehub projects that are located in Pahang State within the Central Gold Belt of Western Malaysia; and the Murchison gold project portfolio comprising the Burnakura, Tuckanarra, and Gabanintha projects, which are located in the Murchison region of Western Australia. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Monument Mining makes money through the extraction and sale of gold from its mining operations. The company generates revenue by mining gold ore, processing it to extract gold, and selling the refined product on the open market. Key revenue streams include the production and sale of gold bullion, with prices influenced by market demand and global gold prices. Additionally, the company may engage in strategic partnerships and joint ventures to enhance its exploration and production capabilities, thereby contributing to its earnings potential. Monument Mining's profitability is closely tied to its operational efficiency, gold production levels, and the prevailing market price of gold.

Monument Mining Financial Statement Overview

Summary

Strong recent fundamentals: TTM revenue grew 26.9% with very high gross (61.6%) and net (40.0%) margins, solid operating cash flow (~71.9M) and free cash flow (~61.6M), and near-zero leverage (debt-to-equity ~0.0005). The main offset is clear multi-year volatility, including large losses and negative free cash flow in 2021–2023.

Income Statement

Profitability and growth are strong in TTM (Trailing-Twelve-Months): revenue rose 26.9% with very high gross margin (61.6%) and net margin (40.0%). The company also shows a sharp multi-year turnaround from losses in 2022–2023 to meaningful profits in 2024–TTM, indicating improved operations and/or pricing. The main weakness is earnings volatility in the longer history (notably large losses in 2021–2023), which suggests results can swing materially across cycles.

Balance Sheet

The balance sheet is very conservatively financed: total debt is near-zero relative to equity (TTM debt-to-equity ~0.0005), providing substantial financial flexibility. Equity and assets have grown versus prior years, and returns on equity are strong in recent periods (24.2% in 2025 annual; 35.0% in TTM). The key risk is that profitability (and therefore returns) has been inconsistent historically, which can affect balance-sheet momentum over a cycle.

Cash Flow

Cash generation is solid in TTM (Trailing-Twelve-Months): operating cash flow (~71.9M) and free cash flow (~61.6M) are both positive, with free cash flow up 32.5%. Cash conversion is generally healthy with free cash flow at ~85.6% of net income in TTM. The primary concern is prior-year instability (negative free cash flow in 2021–2023), showing cash flows can be volatile for this business.

Breakdown	TTM	Sep 2025	Sep 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	142.34M	100.62M	51.42M	12.39M	14.19M	23.24M
Gross Profit	87.62M	54.25M	24.83M	1.75M	629.00K	8.10M
EBITDA	90.39M	64.42M	20.27M	-3.00K	-2.33M	6.28M
Net Income	56.92M	38.29M	6.44M	-6.27M	-6.50M	-99.32M
Balance Sheet
Total Assets	221.09M	182.47M	142.01M	133.12M	134.03M	141.78M
Cash, Cash Equivalents and Short-Term Investments	82.49M	45.84M	10.86M	5.67M	21.07M	38.62M
Total Debt	99.82K	194.58K	168.00K	298.00K	299.00K	90.00K
Total Liabilities	36.90M	24.03M	20.87M	18.94M	13.59M	14.90M
Stockholders Equity	184.19M	158.45M	121.14M	114.19M	120.44M	126.88M
Cash Flow
Free Cash Flow	61.57M	37.70M	4.33M	-15.00M	-17.54M	-3.30M
Operating Cash Flow	71.96M	49.63M	14.38M	118.00K	-4.55M	1.65M
Investing Cash Flow	-11.88M	-13.81M	-9.37M	-15.12M	-12.99M	26.87M
Financing Cash Flow	42.92K	-29.58K	-117.00K	-79.00K	-42.27K	-25.00K

Monument Mining Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.94
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MMY, the sentiment is Negative. The current price of 0.94 is below the 20-day moving average (MA) of 1.13, below the 50-day MA of 1.20, and above the 200-day MA of 0.82, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 38.57 is Neutral, neither overbought nor oversold. The STOCH value of 20.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MMY.

Monument Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MMY	78 Outperform	C$325.34M	3.75	31.06%	―	78.96%	376.52%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
RDS	54 Neutral	C$290.23M	192.23	-2.68%	―	―	-74.07%
GOLD	54 Neutral	$414.69M	-29.69	-8.36%	―	―	37.78%
SIG	53 Neutral	C$362.04M	-39.83	-10.35%	―	―	-69.66%
BYN	52 Neutral	C$486.93M	-44.17	-3.53%	―	―	-445.00%
WRLG	48 Neutral	$466.11M	-37.29	-15.78%	―	―	―

Monument Mining Corporate Events

Monument Mining Posts Strong Q2 on Record Gold Prices and Higher Output

Monument Mining reported a strong second quarter for fiscal 2026, driven by higher gold production and record realized prices at its Selinsing Gold Mine in Malaysia. Net income rose to $20.16 million from $8.84 million a year earlier, while cash on hand expanded by nearly $20 million to $82.65 million, significantly strengthening liquidity and working capital.

The company produced 10,249 ounces and sold 13,725 ounces of gold at an average realized price of $4,197 per ounce, lifting quarterly revenue to $49.23 million and gross margin to $31.55 million. Management highlighted ongoing exploration at Selinsing aimed at extending mine life, priority work on regulatory compliance and infrastructure planning in Western Australia, and the payout of a special dividend, underscoring both operational momentum and improved returns to shareholders.

The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Monument Mining stock, see the TSE:MMY Stock Forecast page.

Monument Mining Joins 2026 TSX Venture 50 After Tripling Market Value

Monument Mining Limited has been named to the 2026 TSX Venture 50 list, recognizing it as one of the top-performing small-cap companies on the TSX Venture Exchange in 2025. The company’s share price rose 328% and its market capitalization climbed 350% over the year, underscoring a sharp re-rating by investors.

Management highlighted that the accolade validates Monument’s strategy and shareholder support, and signaled a continued focus on low-cost production, prudent cash management, and sustainable growth. The company plans to deploy capital into life-of-mine expansion at Selinsing, advancing its Western Australia projects to generate new cash flow, and pursuing corporate opportunities to enhance value and returns for investors.

The TSX Venture 50 ranking, which is based on share price appreciation, market cap growth and trading value, places Monument among a cohort of issuers that delivered outsized gains relative to the prior year. Inclusion in this group is likely to bolster Monument’s market visibility and could support further access to capital as it advances its gold projects in Malaysia and Australia.

The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.92 price target. To see the full list of analyst forecasts on Monument Mining stock, see the TSE:MMY Stock Forecast page.

Monument Mining Joins 2026 TSX Venture 50 After Surging 2025 Performance

Monument Mining Limited, a Canadian gold producer with operations in Malaysia and Western Australia and a minority stake in the Tuckanarra Gold Project, employs roughly 280 staff and prioritizes environmental, social and governance standards. Its portfolio focuses on gold production and exploration aimed at extending mine life and generating new cash flows from its Australian assets.

Monument has been named to the 2026 TSX Venture 50 list, recognizing it as one of the top-performing small-cap companies on the TSX Venture Exchange following a 328% share price increase and 350% jump in market capitalization in 2025. The honor underscores investor confidence in its strategy as management targets disciplined, low-cost production, careful cash management and growth through Selinsing life-of-mine expansion, development of its Western Australia projects and selective corporate opportunities.

The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.92 price target. To see the full list of analyst forecasts on Monument Mining stock, see the TSE:MMY Stock Forecast page.

Monument Mining Reports Strong Assay Results from Selinsing Expansion Drilling

Monument Mining has reported additional high-grade assay results from 15 drill holes at the Buffalo Reef and Felda areas of its Selinsing Gold Mine in Malaysia, including significant mineralized intercepts in the BRC2/BRC3 and BRC3/BRC4 gaps. The company says the latest data confirm continuity between gold-bearing zones, support its expansion drilling strategy, and are expected to underpin an increase in inferred resources that could enable larger, combined pits and inform future life-of-mine planning.

The expansion program, which covers about 115 acres and is being advanced with four drill rigs and plans to ramp up to nine, aims to extend mineral resources and potentially convert them to reserves previously constrained by tenement boundaries. Successful exploration in the Stage 1 and Stage 2 target areas may support pit expansion at Buffalo Reef/Felda and provide a foundation for longer-term operational planning at Selinsing, subject to further geological modeling and tenement extensions.

The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.92 price target. To see the full list of analyst forecasts on Monument Mining stock, see the TSE:MMY Stock Forecast page.