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Prime Mining Corp. (TSE:PRYM)
:PRYM
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Prime Mining (PRYM) AI Stock Analysis

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Prime Mining

(OTC:PRYM)

Rating:48Neutral
Price Target:
Prime Mining's overall stock score reflects substantial financial challenges, with consistent losses and no revenue. However, positive corporate events, such as resource expansion and strategic drilling plans, provide potential growth opportunities. The technical analysis suggests neutral momentum, while the valuation highlights risks due to negative earnings and lack of dividends.

Prime Mining (PRYM) vs. iShares MSCI Canada ETF (EWC)

Prime Mining Business Overview & Revenue Model

Company DescriptionPrime Mining Corp. engages in the acquisition, exploration, and development of mineral resource properties in Mexico. The company explores for gold and silver deposits. It primarily holds a 100% interest in the Los Reyes project that consists of 37 contiguous concessions covering an area of 6,273 hectares located in Sinaloa, Mexico. The company was formerly known as ePower Metals Inc. and changed its name to Prime Mining Corp. in August 2019. Prime Mining Corp. was incorporated in 1981 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyPrime Mining generates revenue through the exploration, development, and eventual production of gold and silver from its mining projects. The company's primary revenue stream is expected to come from the sale of these precious metals once the Los Reyes project reaches the production phase. Additionally, Prime Mining may engage in strategic partnerships or joint ventures with other mining companies to share exploration costs and risks, thereby securing additional funding and resources. The company's earnings are also influenced by fluctuations in global commodity prices for gold and silver, which directly impact the potential revenue from their mining operations.

Prime Mining Financial Statement Overview

Summary
Prime Mining's financials reveal significant challenges, with consistent net losses and zero revenue generation. The balance sheet shows low debt levels, which is positive, but declining equity and negative cash flow from operations highlight sustainability issues.
Income Statement
5
Very Negative
Prime Mining has reported zero revenue consistently, which is a significant concern. The company is facing substantial net losses, with no income to offset costs. This situation indicates critical profitability issues and a high-risk financial position for investors.
Balance Sheet
30
Negative
Prime Mining maintains a low level of debt, which is a positive aspect, with a high equity ratio indicating that the company is primarily financed by equity. However, the consistent losses and declining equity over recent periods suggest potential sustainability issues in the long term.
Cash Flow
20
Very Negative
The company's cash flow indicates ongoing operational challenges, with negative operating and free cash flows consistently reported. While financing activities have provided some liquidity, the lack of positive cash flow from operations raises concerns about future cash sustainability.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Jun 2021
Income Statement
Total Revenue0.000.000.000.000.00
Gross Profit-153.44K-171.11K-176.24K-231.27K-106.77K
EBITDA-21.46M-24.20M-27.18M-21.21M-10.81M
Net Income-21.62M-24.39M-27.37M-21.45M-10.70M
Balance Sheet
Total Assets33.18M47.91M38.11M41.79M44.79M
Cash, Cash Equivalents and Short-Term Investments19.06M33.81M23.81M27.41M32.03M
Total Debt86.32K126.43K162.28K200.56K63.98K
Total Liabilities3.05M3.30M2.09M2.47M1.81M
Stockholders Equity30.13M44.61M36.01M39.31M42.98M
Cash Flow
Free Cash Flow-20.15M-21.86M-23.59M-9.45M-6.58M
Operating Cash Flow-20.13M-21.80M-23.31M-9.02M-6.53M
Investing Cash Flow1.42M1.60M-101.23K-1.65M-3.45M
Financing Cash Flow3.95M30.20M19.81M6.06M40.99M

Prime Mining Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price2.00
Price Trends
50DMA
1.76
Positive
100DMA
1.61
Positive
200DMA
1.63
Positive
Market Momentum
MACD
0.07
Positive
RSI
53.70
Neutral
STOCH
14.81
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PRYM, the sentiment is Neutral. The current price of 2 is below the 20-day moving average (MA) of 2.05, above the 50-day MA of 1.76, and above the 200-day MA of 1.63, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 53.70 is Neutral, neither overbought nor oversold. The STOCH value of 14.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:PRYM.

Prime Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (44)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
TSTLG
51
Neutral
C$261.50M-131.97%63.81%
48
Neutral
C$306.48M-52.66%19.08%
44
Neutral
AU$1.42B-6.06-40.74%3.89%-3.45%-41.76%
42
Neutral
C$181.60M-1.08%
TSAOT
41
Neutral
C$126.35M-5.17%-101.02%
$180.93M7.8126.39%
$174.60M146.32-0.07%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:PRYM
Prime Mining
2.00
0.15
8.11%
TSE:AOT
Ascot Resources
0.09
-0.35
-79.55%
TSE:CUSN
Cornish Metals
0.16
0.06
60.00%
SMTSF
Sierra Metals
0.87
0.28
47.46%
TSE:TLG
Troilus Gold Corp
0.66
0.28
73.68%
ADBRF
Aldebaran Resources Inc
1.56
0.88
129.41%

Prime Mining Corporate Events

Business Operations and StrategyFinancial Disclosures
Prime Mining Reports 2024 Results and Expands Los Reyes Project
Positive
Mar 6, 2025

Prime Mining Corp. reported significant progress in 2024, expanding its Los Reyes Gold-Silver Project with a 49% increase in indicated resources and an 11% increase in inferred resources. Despite a temporary suspension of drilling due to security concerns, the company remains financially strong with $19 million in cash and is poised to continue its exploration efforts in 2025, aiming for a Preliminary Economic Assessment and further community engagement.

Business Operations and Strategy
Prime Mining Extends High-Grade Mineralization at Los Reyes Project
Positive
Feb 24, 2025

Prime Mining Corp. has announced promising generative drilling results from the Los Reyes Project in Mexico, particularly at the Fresnillo target. The drilling results extend high-grade mineralization by 120 meters, offering both underground and open pit mining opportunities. This expansion is poised to increase future resource estimates for the area, enhancing the company’s potential growth and positioning in the mining sector.

Business Operations and Strategy
Prime Mining Unveils 2025 Drilling Plans for Los Reyes Project Amid Temporary Suspension
Positive
Feb 19, 2025

Prime Mining Corp. has announced its 2025 exploration and drilling plans for the Los Reyes gold-silver project, despite a temporary suspension due to security concerns in Sinaloa. The company plans to conduct a 40,000-meter drill program targeting resource expansion and new discoveries while continuing technical de-risking efforts. Prime is confident the suspension will not impact its overall plans and has secured sufficient funding for its operations.

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.Date of analysis: May 01, 2025