Panoro Minerals (PML) AI Stock Analysis

• Market Cap: C$136.44M
• Dividend Yield: N/A
• Average Volume (3M): 58.85K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.57
• Revenue Growth: N/A
• EPS Growth: -45.61%
• Country: CA
• Employees: 27
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 272,870,540
• 10 Day Avg. Volume: 33,515
• 30 Day Avg. Volume: 58,846
• PEG Ratio: 1.26
• Price to Book (P/B): 1.58
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -16.89K
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: C$0.42 ▲(10.53% Upside)

The score is held down primarily by weak financial performance (pre-revenue losses and ongoing cash burn), partially offset by a low-leverage balance sheet. Technicals are supportive with a strong uptrend, but overbought signals raise near-term pullback risk. Valuation provides limited support due to negative earnings and no dividend.

Positive Factors

Low leverage balance sheet

Sustained low financial leverage provides durable flexibility for an exploration company: it reduces near-term refinancing risk and preserves borrowing capacity to fund drilling or permit work. This enhances optionality to pursue farm-outs or joint ventures without heavy interest burdens.

Asset monetization business model

A clear, multi-pathway business model—sale, farm-out, JV or advancing to production—aligns incentives with partner-funded de-risking. This structural model lets Panoro realize value without needing to self-fund full construction, lowering execution risk relative to sole-developer miners.

Lean operating structure

A small headcount implies lower fixed overhead and the ability to direct limited capital into exploration and technical studies. For a pre-revenue explorer, lean staffing can materially extend cash runway and make external capital requirements smaller per program executed.

Negative Factors

Pre-revenue, recurring operating losses

Being pre-revenue with recurring operating losses is a durable constraint: without producing assets there is no margin base to absorb costs. Continued losses erode equity and make the company dependent on successful exploration outcomes to justify further investment or partner interest.

Weak cash generation and ongoing cash burn

Persistent negative operating and free cash flow means the company cannot self-fund exploration or development. Structurally, this enforces reliance on external financing (equity or other capital market transactions), which can be dilutive and sensitive to capital market cycles.

Equity erosion & negative returns on equity

A declining equity base and chronically negative ROE signal value erosion that weakens long-term funding options. Persistent negative shareholder equity trends can reduce negotiating leverage with partners and limit access to non-dilutive project finance until material resource de-risking occurs.

Panoro Minerals Business Overview & Revenue Model

Company Description

Panoro Minerals Ltd., an exploration-stage company, engages in the acquisition, exploration, and development of mineral properties in Peru. The company explores for copper, molybdenum, lead, gold, silver, and zinc deposits. Its flagship project is the Cotabambas project located in the District of Cotabambas. The company was formerly known as Panoro Resources Ltd. and changed its name to Panoro Minerals Ltd. in June 2003. Panoro Minerals Ltd. was incorporated in 1994 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Panoro Minerals generates revenue through the development and potential sale or joint venture of its mineral properties. The company engages in extensive exploration activities to enhance the value of its projects, aiming to attract larger mining companies or investors interested in acquiring or partnering to develop these resources. Key revenue streams include proceeds from the sale of mineral properties, joint venture agreements, and potential future royalties from production. Additionally, Panoro may benefit from equity financings or strategic partnerships that provide capital for its exploration and development activities. The company's success hinges on its ability to effectively demonstrate the value of its projects through exploration results and feasibility studies, positioning itself as an attractive partner or acquisition target within the mining industry.

Panoro Minerals Financial Statement Overview

Summary

Financial profile is weak due to a pre-revenue model, recurring net losses, and consistently negative operating and free cash flow (ongoing cash burn). The main offset is a comparatively strong balance sheet with low leverage, but equity erosion risk persists without a path to profitability.

Income Statement

Results reflect a pre-revenue profile (no revenue reported across the periods provided), with persistent operating losses and negative gross profit. Net losses remain recurring across 2020–2024 and in TTM (Trailing-Twelve-Months) 2025-09-30, with no visible margin improvement because there is no revenue base to absorb costs. A modest positive is that the TTM net loss is slightly narrower than 2024, but overall profitability remains weak and highly dependent on future project commercialization.

Balance Sheet

The balance sheet is a relative strength: leverage is low (debt-to-equity is very small in the annual periods and still modest in TTM), and equity remains sizable versus total assets. However, returns on equity are consistently negative due to ongoing losses, and equity has trended down from 2020 to TTM as losses accumulate. Overall, the company appears lightly levered, but value erosion risk persists without a path to operating profitability.

Cash Flow

Cash generation is weak, with operating cash flow negative in every year shown and also negative in TTM (Trailing-Twelve-Months), indicating ongoing cash burn. Free cash flow is also generally negative (including materially negative in 2022, 2023, and TTM), and cash outflows appear to have increased in TTM versus 2024. While free cash flow growth is reported as improving in some periods, the underlying level remains negative, implying continued dependence on external funding or balance sheet liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-76.99K	-130.87K	-357.00K	-42.36K	-31.22K	-51.75K
EBITDA	-1.37M	-2.31M	-2.67M	-417.62K	-8.61M	-161.00K
Net Income	-1.55M	-1.65M	-2.77M	-610.00K	-8.23M	-1.08M
Balance Sheet
Total Assets	53.54M	75.80M	70.84M	74.07M	71.15M	77.89M
Cash, Cash Equivalents and Short-Term Investments	101.53K	997.63K	256.64K	7.52M	10.50M	753.39K
Total Debt	1.50M	163.43K	153.00K	279.68K	278.69K	17.95K
Total Liabilities	17.28M	22.26M	15.31M	20.01M	16.51M	15.04M
Stockholders Equity	36.26M	53.54M	50.89M	54.07M	54.64M	62.85M
Cash Flow
Free Cash Flow	-3.11M	-5.01K	-2.24M	-1.91M	-1.30M	-1.12M
Operating Cash Flow	-3.11M	-2.00M	-2.22M	-1.85M	-1.28M	-1.11M
Investing Cash Flow	1.74M	2.68M	-4.00M	-2.84M	9.39M	-506.73K
Financing Cash Flow	1.47M	-71.39K	928.94K	1.88M	1.85M	1.98M

Panoro Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.38
• 50DMA: Positive
• 100DMA: Positive
• 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:PML, the sentiment is Positive. The current price of 0.38 is below the 20-day moving average (MA) of 0.49, below the 50-day MA of 0.41, and below the 200-day MA of 0.45, indicating a bullish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 55.98 is Neutral, neither overbought nor oversold. The STOCH value of 42.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PML.

Panoro Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GMX	61 Neutral	C$140.87M	24.17	15.11%	―	-73.34%	16.21%
OCO	60 Neutral	C$217.56M	-53.66	-3.75%	―	―	29.51%
AZM	52 Neutral	C$94.69M	-45.08	-4.67%	―	―	-5360.00%
PML	50 Neutral	C$136.44M	-56.02	-4.35%	―	―	-45.61%
DEFN	50 Neutral	C$98.06M	-13.16	-11.39%	―	―	-42.86%

Panoro Minerals Corporate Events

Panoro Minerals Secures Fully Subscribed C$4 Million Financing

Panoro Minerals plans to raise C$4 million through a fully subscribed non-brokered private placement of 10 million units priced at C$0.40, with warrants exercisable at C$0.60 for three years and subject to customary hold periods and approvals. Proceeds will fund infill drilling, metallurgical work, PEA updates, prefeasibility engineering, and working capital at Cotabambas, reinforcing the project’s technical de-risking and positioning Panoro to progress in the Andean copper development pipeline amid ongoing regulatory requirements.

The most recent analyst rating on (TSE:PML) stock is a Hold with a C$0.54 price target. To see the full list of analyst forecasts on Panoro Minerals stock, see the TSE:PML Stock Forecast page.

Panoro Minerals Amends Antilla Royalty and Payment Terms as It Refocuses on Cotabambas

Panoro Minerals has amended its agreements relating to the Antilla copper project in Peru, granting TABB Partners LLC an exclusive option to acquire up to 100% of a 2% net smelter returns royalty on the project, provided the first 50% option is exercised within 30 days. The company has also revised terms with Calisto Cobre Inc., deferring the C$7 million third payment for an additional 15% stake in Antilla to on or before June 15, 2026, and stipulating that contingent payments will be made in cash on a semi-annual basis from available cash after commercial production begins, adjustments that refine Panoro’s monetization of Antilla while it concentrates its technical and development efforts on the Cotabambas Project.

The most recent analyst rating on (TSE:PML) stock is a Hold with a C$0.46 price target. To see the full list of analyst forecasts on Panoro Minerals stock, see the TSE:PML Stock Forecast page.

Panoro Minerals Raises C$3.44 Million to Advance Cotabambas Project

Panoro Minerals has closed the second and final tranche of its brokered private placement under the listed issuer financing exemption, raising C$520,000 from the sale of 1.3 million units at C$0.40 each, bringing total gross proceeds from the offering to C$3,438,200. Each unit comprises one common share and one warrant exercisable at C$0.60 until November 2028, with the funds earmarked for infill drilling, metallurgical testing, pre-feasibility engineering and an updated preliminary economic assessment at the Cotabambas copper-gold-silver project, as well as working capital, reinforcing the company’s efforts to technically de-risk and advance the Peruvian asset while it seeks strategic options to move the project toward development.

Panoro Minerals Updates Brokered Financing to Advance Cotabambas Project

Panoro Minerals Ltd. has updated the terms of its previously announced brokered private placement, filing a new offering document for the sale of up to 1.3 million units at C$0.40 per unit, for additional gross proceeds of up to C$520,000, with Red Cloud Securities acting as lead agent and sole bookrunner. Together with a previously closed first tranche that raised C$2.92 million and an agents’ option for up to a further 260,000 units, the offering is expected to fund infill drilling, metallurgical testing, pre-feasibility engineering and an updated preliminary economic assessment at the company’s Cotabambas Copper-Gold-Silver project, as well as working capital and general corporate purposes, potentially advancing the project’s development profile and Panoro’s positioning in the copper-gold-silver exploration space.

Panoro Minerals Updates Brokered Financing to Advance Cotabambas Project

Panoro Minerals has updated its previously announced brokered private placement under the listed issuer financing exemption, filing a new December offering document to sell up to 1.3 million units at C$0.40 per unit for gross proceeds of up to C$520,000, with an agent’s option for an additional 260,000 units. Together with an earlier first tranche that raised C$2.9 million, the financing—led by Red Cloud Securities—supports Panoro’s plans to fund infill drilling, metallurgical testing, pre-feasibility engineering and an updated preliminary economic assessment for its Cotabambas project, potentially advancing the asset’s development and strengthening the company’s position in the copper-gold-silver exploration space while providing immediately freely tradeable securities to Canadian investors under the exemption regime.

Panoro Minerals Closes First Tranche of Private Placement for C$2.9 Million

Panoro Minerals Ltd. has successfully closed the first tranche of its private placement, raising C$2.9 million. The proceeds will be used for infill drilling, metallurgical testing, and pre-feasibility engineering at the Cotabambas Project, enhancing its economic assessment and supporting corporate operations. This financial move positions Panoro to advance its project development and engage in strategic discussions for future construction and operation.