Sable Resources (SAE) AI Stock Analysis

• Market Cap: C$25.58M
• Dividend Yield: N/A
• Average Volume (3M): 230.52K
• Price to Earnings (P/E): 1.2
• Beta (1Y): 1.68
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.01
• Shares Outstanding: 319,798,220
• 10 Day Avg. Volume: 117,574
• 30 Day Avg. Volume: 230,517
• PEG Ratio: 0.02
• Price to Book (P/B): -1.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.29
• 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$0.10 ▲(140.00% Upside)

The score is held back primarily by weak financial quality—zero revenue and ongoing operating/free cash flow burn—despite a rebound in reported earnings and a low-debt balance sheet. Technicals are supportive with a strong uptrend, but overbought indicators increase near-term downside risk. Valuation appears cheap on P/E, though reliability is limited given the underlying cash flow and revenue profile.

Positive Factors

Low Leverage / Repaired Balance Sheet

Near-zero TTM debt and a meaningful shift back to positive equity reduce financial distress risk and provide structural flexibility. Over the next several months this lowers bankruptcy risk, supports deal-making for projects, and makes it easier to secure partner-funded exploration.

Reported Profitability Improvement

A swing to positive net income and EBIT/EBITDA has strengthened reported results and the balance sheet. If recurring, this can increase resources available for advancing projects or attract JV partners, improving the company’s ability to fund exploration without immediate dilutive financing.

Asset-Monetization Business Model

The company’s model—creating value via early-stage exploration then monetizing via options/JVs—is structurally suited to preserve cash and scale activities by transferring capital burden to partners. This reduces ongoing capital intensity and supports sustained project pipeline activity.

Negative Factors

No Operating Revenue

Zero operating revenue and negative gross profit mean the company lacks an operating commercial base. Over months this undermines earnings resiliency and implies any profits are unlikely to be repeatable without establishing production or consistent transaction-based inflows.

Persistent Cash Burn

Sustained negative operating and free cash flow requires recurring external funding to support exploration. Over a 2–6 month horizon this creates dilution and execution risk, potentially forcing reduced activity or unfavorable financing terms that impede long-term project advancement.

Earnings Quality & Result Volatility

Profits driven by non-operating items and prior swings in equity indicate weak earnings quality and volatile returns on equity. This structural unpredictability hampers credibility with partners and lenders and makes planning and capital allocation less reliable over the medium term.

Sable Resources Business Overview & Revenue Model

Company Description

Sable Resources Ltd. engages in the acquisition, exploration, and development of mineral resource properties in Mexico and Argentina. It explores for gold, silver, copper, lead, zinc, and other deposits. The company holds 100% interests in the Don Julio project covering an area of 63,314 hectares; the El Fierro project covering an area of 58,510 hectares; the El Fierrazo project, the Los Pumas project, and the Laspina project located in San Juan Province, Argentina; and the Vinata project and the El Escarpe project located in Mexico. It also has interest in the La Poncha property that covers an area of approximately 34,937 hectares located in San Juan, Argentina. The company was formerly known as Calico Silver Mines Ltd. and changed its name to Sable Resources Ltd. in 1978. Sable Resources Ltd. was incorporated in 1962 and is based in Vancouver, Canada.

How the Company Makes Money

Sable Resources generates revenue primarily through the discovery and extraction of mineral resources, which are then sold in the global commodities market. The company focuses on exploring and developing high-grade gold and silver deposits, which are its key revenue streams. Revenue is generated through strategic partnerships and joint ventures with other mining companies, which help in sharing risks and leveraging expertise. Furthermore, Sable Resources may also receive income from selling or leasing its mineral properties or claims to other interested parties. The company's earnings are significantly influenced by market prices for gold and silver, operational efficiency, and successful exploration results.

Sable Resources Financial Statement Overview

Summary

Reported profitability improved sharply in the TTM period (positive net income and EBIT/EBITDA) and leverage is very low with equity turning positive again. However, the company still shows zero revenue and negative gross profit, and cash flow remains materially negative (operating and free cash flow), raising concerns about earnings quality and ongoing funding needs.

Income Statement

TTM (Trailing-Twelve-Months) shows a sharp swing to positive net income (about 20.0M) and positive EBIT/EBITDA, a notable improvement versus the sizable losses reported in 2021–2024. That said, the company still reports zero revenue and negative gross profit, which suggests profitability is likely driven by non-operating items rather than a repeatable operating business model. Overall, earnings momentum improved materially, but quality and durability of profits look weak given the lack of revenue.

Balance Sheet

Leverage is very low (TTM debt-to-equity near zero), which reduces financial risk. Equity also improved meaningfully from negative in 2023–2024 to positive in TTM (~17.8M), indicating a repaired balance sheet. The key weakness is volatility: equity has swung from positive (2021–2022) to negative (2023–2024) and back to positive, and return on equity is erratic—pointing to instability in underlying results.

Cash Flow

Cash generation remains a clear pressure point: TTM operating cash flow is materially negative (~-8.4M) and free cash flow is also negative (~-9.0M), consistent with multiple prior years of cash burn. While free cash flow growth is positive in TTM, it is improving from a deeply negative base rather than turning sustainably positive. The company may need ongoing funding unless cash burn moderates.

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	-106.62K	-105.00K	-104.82K	-80.55K	-46.60K	-28.86K
EBITDA	10.76M	-6.14M	-14.12M	-22.66M	-14.38M	5.32M
Net Income	19.99M	-6.25M	-14.22M	-13.81M	-10.14M	4.41M
Balance Sheet
Total Assets	20.60M	11.99M	14.08M	22.80M	28.47M	24.66M
Cash, Cash Equivalents and Short-Term Investments	16.89M	9.10M	12.02M	17.15M	23.81M	20.44M
Total Debt	2.71K	26.81K	58.04K	88.28K	117.55K	144.52K
Total Liabilities	2.82M	19.43M	14.25M	9.19M	3.11M	1.60M
Stockholders Equity	17.78M	-7.44M	-177.26K	13.61M	25.36M	23.06M
Cash Flow
Free Cash Flow	-9.01M	-6.66M	-10.95M	-14.32M	-10.40M	-4.04M
Operating Cash Flow	-8.42M	-6.17M	-10.39M	-13.62M	-9.83M	-3.83M
Investing Cash Flow	3.95M	3.23M	4.95M	6.16M	2.85M	1.33M
Financing Cash Flow	10.50M	-31.23K	-30.24K	1.71M	12.68M	14.80M

Sable Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SAE, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.05, and below the 200-day MA of 0.04, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 62.65 is Neutral, neither overbought nor oversold. The STOCH value of 69.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SAE.

Sable Resources 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%
SAE	53 Neutral	C$25.58M	1.17	289.73%	―	―	―
SNG	51 Neutral	C$16.23M	-4.76	-44.50%	―	―	-221.30%
RRI	49 Neutral	C$16.45M	7.17	-15.87%	―	―	-90.32%
OZ	48 Neutral	C$17.37M	-0.83	-117.25%	―	―	-230.12%

Sable Resources Corporate Events

Sable Resources Sets 2026 Exploration Agenda After Strengthening Portfolio and Balance Sheet in 2025

Sable Resources outlined a strengthened strategic position following 2025, marked by a key earn-in partnership with Moxico Resources on its El Fierro and Cerro Negro projects in Argentina, which shifts a significant portion of exploration funding to Moxico while accelerating work on two flagship assets. The company bolstered its balance sheet through strategic financing, including a private placement and royalty-related payments, ending 2025 with about C$17 million in treasury, and advanced the Pyros porphyry system at El Fierro with improved drill grades and expanded mineralized footprint, while adding the internally generated Zorro copper–epithermal project and progressing its British Columbia assets and board strength through the appointment of Osisko Gold Royalties’ nominee. Looking ahead to 2026, Sable plans to continue its discovery-driven exploration programs targeting large porphyry and related systems in San Juan and other South American regions, conduct further drilling at the Pyros system to test for higher-grade centres, launch first-pass drilling at the fully funded Zorro project in late Q2 2026, and advance concealed porphyry/epithermal targets at Cerro Negro toward initial drill testing in collaboration with Moxico, positioning the company for potential value creation through new discoveries and de-risked exploration spending.

The most recent analyst rating on (TSE:SAE) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Sable Resources stock, see the TSE:SAE Stock Forecast page.

Sable Resources Reports High-Grade Copper-Gold-Silver Samples at Zorro Project in Argentina

Sable Resources has reported highly encouraging preliminary rock sample results from its recently acquired Zorro Project in San Juan, Argentina, with assays from 55 of 98 samples returning up to 4.38% copper, 140.5 g/t gold and 584 g/t silver across three distinct target areas. The results outline a 650m by 500m Zorro Copper zone with intrusion-related Cu-Ag-Au mineralization, a Zorro Veins zone of high-grade intermediate-sulphidation epithermal veins historically worked by artisanal miners, and the Zorro Bx breccia zone showing strong epithermal pathfinder anomalies, collectively underscoring the project’s potential to host both bulk-tonnage copper systems and high-grade gold-silver deposits and justifying further detailed mapping, sampling and geophysical work to refine drilling targets.

The most recent analyst rating on (TSE:SAE) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Sable Resources stock, see the TSE:SAE Stock Forecast page.

Sable Resources Consolidates New Zorro Copper Project in Argentina’s San Juan Province

Sable Resources has signed a binding letter agreement to secure an option to acquire 100% of the La Esquina property in San Juan, Argentina, consolidating it with adjacent claims previously staked by the company into a new 5,236-hectare land package named the Zorro Project. Situated just north of established copper and polymetallic deposits and near Sable’s Don Julio project, Zorro hosts multiple mineralization styles—including intrusion-related copper, magmatic-hydrothermal breccias and epithermal veins—around a large magnetic anomaly, and offers year-round access and lower exploration costs; Sable plans detailed fieldwork and geophysics ahead of a potential drill program in the second half of 2026, strengthening its exploration pipeline and footprint in one of the most attractive mining jurisdictions in the world.

The most recent analyst rating on (TSE:SAE) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Sable Resources stock, see the TSE:SAE Stock Forecast page.

Sable Resources Adds OR Royalties Executive Desharnais to Board as New Nominee

Sable Resources Ltd. has announced a change to its board of directors, with OR Royalties’ nominee shifting from Barry Quiroz to Guy Desharnais, the current Vice President of Project Evaluation at OR Royalties. Desharnais brings extensive experience in geochemistry, exploration geology and project evaluation, including prior roles at Xstrata Nickel and SGS Geostat, as well as industry recognition through technical awards and committee work. Sable’s chairman highlighted that Desharnais’s technical and evaluation expertise is expected to support the company’s exploration of its highly prospective assets and assessment of new opportunities, while the continued backing from OR Royalties underscores confidence in Sable’s exploration portfolio and strategy, signaling stability and ongoing institutional support for shareholders.

The most recent analyst rating on (TSE:SAE) stock is a Hold with a C$0.05 price target. To see the full list of analyst forecasts on Sable Resources stock, see the TSE:SAE Stock Forecast page.

Sable Resources Adopts New Equity Incentive Plan

Sable Resources Ltd. has announced the adoption of a new omnibus equity incentive plan, which was nearly unanimously approved by shareholders at the company’s recent annual meeting. This plan replaces the previous stock option and restricted share unit plans, offering more flexibility with options, restricted share units, performance share units, and deferred share units, while maintaining a cap of 10% of the company’s outstanding shares for awards. The move is expected to enhance Sable’s operational flexibility and align with its strategic focus on developing its portfolio of mining projects.