Puma Exploration (PUMA) AI Stock Analysis

• Market Cap: C$35.92M
• Dividend Yield: N/A
• Average Volume (3M): 191.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.72
• Revenue Growth: N/A
• EPS Growth: 34.69%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 179,616,730
• 10 Day Avg. Volume: 84,714
• 30 Day Avg. Volume: 191,499
• PEG Ratio: 0.31
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.01
• 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: 53 Neutral
• Price Target: C$0.20 ▲(35.33% Upside)

The score is held back primarily by weak financial performance—no revenue, ongoing losses, and negative free cash flow—tempered by a low-debt balance sheet. Technicals are modestly supportive due to trading above key longer-term moving averages, while valuation signals are weak given the negative P/E and no provided dividend yield.

Positive Factors

Low leverage / strong balance sheet

Essentially zero reported debt reduces refinancing and interest-rate risk for an exploration company. This durable financial flexibility lengthens runway for multi-stage drilling programs, supports opportunistic JV or asset sales, and lowers solvency risk if markets tighten.

Focused metals exploration strategy

A clear focus on base and precious metals concentrates technical expertise and project selection, improving the odds of advancing commercially attractive deposits. Structural demand for these commodities underpins long-term optionality to monetize discoveries via JV, royalties, or asset sales.

Improving cash burn trend (TTM)

Meaningful TTM improvement in free cash flow signals better short-to-medium-term capital efficiency in exploration spending. If sustained, lower cash burn reduces dependence on frequent equity raises, prolongs project evaluation windows and improves chances of reaching partnerable milestones.

Negative Factors

No operating revenue / persistent losses

As an early-stage explorer without operating revenue, the company requires ongoing funding to cover exploration and G&A. Persistent losses mean intrinsic profitability is distant; until commercial production or a monetization event occurs, the firm remains structurally loss-making and cash-dependent.

Reliance on equity financing

Dependence on equity raises creates recurring dilution risk and exposes project timelines to capital market conditions. In tighter markets or after dilution fatigue, access to sufficient non-dilutive capital (JVs, royalties, or debt) may be constrained, impeding sustained program funding or timely asset advancement.

Negative returns on equity

Growing equity without positive ROE indicates the asset base is not generating shareholder returns. This structural weakness can deter investors and partners, making it harder to attract favorable financing or JV terms until projects demonstrate economics or commercial scalability.

Puma Exploration Business Overview & Revenue Model

Company Description

Puma Exploration Inc., a junior mining exploration company, acquires, explores for, and develops mining properties in Canada. The company explores for gold, silver, and copper deposits. Its flagship project is the Williams Brook Gold project covering an area of approximately 20,662 hectares located in New Brunswick. The company is headquartered in Rimouski, Canada.

How the Company Makes Money

Puma Exploration makes money through the acquisition, exploration, and development of mineral properties, primarily focusing on gold and base metals. The company generates revenue by discovering economically viable mineral deposits and either developing these properties into operational mines or selling the properties to other mining companies. Puma Exploration's income is also supplemented by strategic partnerships or joint ventures with other mining companies, where it can earn a share of profits or receive funding to advance its exploration projects. Additionally, the company may raise capital through equity financing to fund its exploration activities and enhance its asset portfolio.

Puma Exploration Financial Statement Overview

Summary

Financials reflect an early-stage explorer: no revenue and persistent operating/net losses (weak income statement), and ongoing negative operating and free cash flow (cash burn) despite some TTM improvement. Offsetting this, the balance sheet is a relative strength with essentially no debt and a growing equity base, reducing near-term solvency risk but not fixing the lack of profitability.

Income Statement

Across both TTM (Trailing-Twelve-Months) and annual periods, the company reports no revenue and consistently negative gross profit, EBIT/EBITDA, and net income—typical of an early-stage explorer but still a weak earnings profile. Losses remain sizable (TTM net loss of ~1.3M), and profitability is not yet trending toward break-even, with operating losses worsening versus the most recent annual period.

Balance Sheet

The balance sheet is a relative strength: reported debt is essentially zero (and debt-to-equity is 0.0 in recent periods), which reduces financial risk and refinancing pressure. Equity has grown materially over the multi-year period, supporting a larger asset base; however, returns on equity remain negative (TTM ROE ~-5.7%), reflecting continued losses and limited current profitability from the asset base.

Cash Flow

Cash generation remains pressured with negative operating cash flow and negative free cash flow in both TTM (Trailing-Twelve-Months) and annual periods, indicating ongoing cash burn to fund operations and exploration. A positive point is that TTM cash burn is much lower than the latest annual cash burn (free cash flow improved meaningfully), but the sharp negative free cash flow growth in TTM suggests volatility and continued reliance on external funding if spending ramps.

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	-10.82K	-10.82K	-15.45K	-18.91K	-10.49K	-6.09K
EBITDA	-1.58M	-1.15M	-1.72M	-1.27M	-1.86M	-1.18M
Net Income	-1.31M	-1.05M	-1.60M	-1.29M	-2.04M	-1.19M
Balance Sheet
Total Assets	21.22M	18.58M	16.26M	13.99M	14.75M	7.36M
Cash, Cash Equivalents and Short-Term Investments	135.95K	361.10K	522.17K	190.49K	1.13M	304.34K
Total Debt	0.00	0.00	0.00	0.00	0.00	32.16K
Total Liabilities	1.38M	519.43K	375.13K	296.65K	1.86M	627.64K
Stockholders Equity	19.84M	18.06M	15.89M	13.70M	12.89M	6.74M
Cash Flow
Free Cash Flow	-422.57K	-2.87M	-3.80M	-6.63M	-4.98M	-2.88M
Operating Cash Flow	-120.92K	-1.22M	-1.60M	-1.79M	-1.38M	-892.15K
Investing Cash Flow	-963.46K	-1.19M	-2.19M	-4.84M	-3.60M	-1.58M
Financing Cash Flow	819.02K	2.25M	4.13M	1.67M	8.23M	4.37M

Puma Exploration Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.15
• 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:PUMA, the sentiment is Neutral. The current price of 0.15 is below the 20-day moving average (MA) of 0.22, below the 50-day MA of 0.18, and above the 200-day MA of 0.12, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 47.02 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:PUMA.

Puma Exploration 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%
YRB	57 Neutral	C$30.90M	3.33	31.09%	―	-100.00%	―
PUMA	53 Neutral	C$35.92M	-25.32	-6.05%	―	―	34.69%
KG	52 Neutral	C$39.35M	-36.05	-3.40%	―	―	-34.21%
WG	47 Neutral	C$28.76M	-10.00	-16.82%	―	―	14.38%

Puma Exploration Corporate Events

Puma Exploration Monetizes Turgeon Project as It Deepens Equity- and Royalty-Focused Growth Strategy

Puma Exploration has completed the sale of its Turgeon base metal project to Raptor Resources, now largely controlled by Australia’s Eastern Metals (to be renamed Raptor Metals), securing C$391,631 in cash and 18.75 million Eastern Metals shares as part of a broader divestment of its Turgeon and Chester projects. Through these transactions with Raptor and Canadian Copper, Puma has received a total of C$970,023 in cash, substantial equity positions in Eastern Metals and Canadian Copper, and performance rights that may convert into additional Eastern Metals shares, while retaining several net smelter return royalties and planning a potential spin-out and listing of its Murray Brook Minerals subsidiary focused on critical minerals, thereby crystallizing value from non-core base metal assets and reinforcing its capital-light, royalty- and equity-driven growth model in the resource sector.

The most recent analyst rating on (TSE:PUMA) stock is a Hold with a C$0.19 price target. To see the full list of analyst forecasts on Puma Exploration stock, see the TSE:PUMA Stock Forecast page.

Kinross Boosts Stake in Puma Exploration with $2 Million Private Placement

Puma Exploration announced that Kinross Gold Corporation is increasing its equity stake in the company from 9.1% to 14.8% (17.4% on a partially diluted basis) through a $2 million non-brokered private placement of 12.5 million units at $0.16 per unit, each unit consisting of one share and half a warrant exercisable at $0.25. The proceeds will fund exploration on Puma’s projects not optioned to Kinross and general corporate purposes, while Kinross’ larger position and ongoing right to increase its holding up to 19.9% reinforce the strategic partnership around the Williams Brook Option Agreement, under which over 3,600 metres were drilled at the Lynx Gold Zone in year one and two new drilling campaigns are planned for 2026 at the Lion and Jaguar Gold Zones, potentially strengthening Puma’s exploration pipeline and regional gold footprint.

The most recent analyst rating on (TSE:PUMA) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on Puma Exploration stock, see the TSE:PUMA Stock Forecast page.

Puma Exploration Secures $1.2 Million for Gold Exploration in New Brunswick

Puma Exploration has successfully closed a non-brokered financing round, raising $1,200,000 through the issuance of 6,000,000 flow-through units. The proceeds will be used to fund exploration activities at the McKenzie Gold Project and other assets in northern New Brunswick. This financing will support Puma’s strategic focus on gold exploration in the region, potentially enhancing its market position and offering growth opportunities for stakeholders.

Puma Exploration Expands Drilling at McKenzie Gold Project

Puma Exploration has mobilized a second drill at its McKenzie Gold project in Northern New Brunswick, following the commencement of a 2,500-metre drilling program at the RIM Gold Zone. The initiative aims to explore high-grade gold zones, with initial results showing visible gold in drill cores. This expansion is expected to enhance the understanding of the project’s mineral potential, positioning Puma strategically in the gold exploration sector.

Puma Exploration Unveils High-Grade Gold Findings and Initiates Drilling at McKenzie Project

Puma Exploration has announced significant gold findings at its McKenzie Gold Project in Northern New Brunswick, with samples returning up to 126 g/t gold. The company is launching its inaugural 2,500-meter drilling program to further explore the high-grade RIM Gold Zone, which has been extended by 100 meters. The presence of visible gold and increased vein thickness suggest potential for higher-grade mineralization, positioning McKenzie as a promising site comparable to renowned gold belts in Victoria and Nova Scotia. These developments are expected to enhance Puma’s exploration efforts and strengthen its market position in the gold mining industry.

Puma Exploration Uncovers High-Grade Gold and Copper at Jonpol Property

Puma Exploration has announced significant findings from its 2025 surface sampling program at the Jonpol Property, part of the Williams Brook Project. The program revealed high-grade gold and copper values, with samples showing up to 19.55 g/t gold and 3.32% copper. These results suggest that the Ramsay Brook Fault is highly prospective for gold mineralization, potentially hosting a major gold-bearing trend over two kilometers. This discovery positions the Ramsay Brook Fault as a priority exploration target, indicating promising implications for Puma’s operations and stakeholders.