Starcore International Mine (SAM) AI Stock Analysis

• Market Cap: C$133.00M
• Dividend Yield: N/A
• Average Volume (3M): 261.58K
• Price to Earnings (P/E): 42.6
• Beta (1Y): 2.13
• Revenue Growth: 26.16%
• EPS Growth: -8.73%
• Country: US
• Employees: 53
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 89,863,520
• 10 Day Avg. Volume: 223,982
• 30 Day Avg. Volume: 261,582
• PEG Ratio: -0.94
• Price to Book (P/B): 0.44
• Price to Sales (P/S): 0.56
• P/FCF Ratio: -9.47
• 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: 63 Neutral
• Price Target: C$1.50 ▲(66.67% Upside)

The score is primarily supported by strong revenue growth and a very low-leverage balance sheet, along with positive price trend signals. Offsetting these positives are weak cash flow quality/liquidity indicators and a high P/E valuation, which materially reduce the overall score.

Positive Factors

Revenue Growth

Sustained TTM revenue growth indicates expanding production or better sales realization, which supports longer-term operational scalability. Robust top-line momentum helps absorb fixed mining costs, fund sustaining capital and underpins strategic investment options over the next several quarters.

Low Financial Leverage

Extremely low debt-to-equity signals minimal financial risk and greater balance sheet flexibility. This reduces default and refinancing risk during commodity cycles, enabling the company to fund operations or capital needs from equity or internal resources without heavy interest burdens.

Gross and EBITDA Margins

Healthy gross margin and positive EBITDA show the core mining and processing activities generate margin before non-cash charges and corporate costs. That base profitability supports the business's ability to cover operating costs and maintain operations through commodity cycles.

Negative Factors

Weak Cash Generation

Low conversion of earnings to operating cash and negative free cash flow indicate persistent liquidity strain. Over months this limits capacity to fund sustaining capital, exploration or unexpected costs internally and raises reliance on external financing or asset sales.

Thin Profitability & Negative EBIT

Very low net margin and negative EBIT imply limited cushion against cost inflation or lower metal prices. Structural profitability weakness reduces retained earnings, constrains reinvestment and makes operating performance sensitive to small adverse swings in costs or productivity.

Commodity and Production Exposure

Business model relies on doré sales, tying revenue to volatile metal prices and production consistency. This structural exposure means cash flow and planning remain vulnerable to commodity cycles, permitting shorter windows of stable earnings and increasing capital and hedging demands.

Starcore International Mine Business Overview & Revenue Model

Company Description

Starcore International Mine (SAM) is a mining company focused on the exploration and production of precious and base metals. Operating primarily in Mexico, SAM engages in the extraction of gold, silver, and other minerals through its various mining properties. The company aims to enhance shareholder value by leveraging its assets and expanding its mining operations while adhering to sustainable practices.

How the Company Makes Money

Starcore International Mine generates revenue primarily through the sale of precious metals, particularly gold and silver, extracted from its mining operations. The company operates on a model that includes both direct sales of mined metals to wholesalers and refiners, as well as potential partnerships with other mining companies for joint ventures or collaborations in exploration. Key revenue streams include the direct sale of bullion, which is influenced by global market prices, as well as any additional revenue from by-products or royalties from mineral rights. Furthermore, the company may benefit from strategic partnerships that enhance operational efficiency and market access, contributing to its overall earnings.

Starcore International Mine Financial Statement Overview

Summary

Revenue growth is strong (18.17% TTM) and leverage is very low (debt-to-equity 0.03), supporting stability. However, profitability is thin (2.34% net margin) with negative EBIT margin, and cash generation is weak (operating cash flow to net income 0.18 and negative free cash flow metrics), which limits the score.

Income Statement

Starcore International Mine has shown a positive revenue growth rate of 18.17% TTM, indicating strong sales momentum. The gross profit margin is healthy at 28.96%, but the net profit margin is relatively low at 2.34%, suggesting high operational costs. The EBIT margin is negative, indicating challenges in operational efficiency, though the EBITDA margin is slightly positive at 6.96%.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.03, reflecting minimal leverage and financial risk. The return on equity is modest at 1.84%, indicating limited profitability from shareholders' investments. The equity ratio is robust, highlighting a solid capital structure.

Cash Flow

Cash flow analysis reveals a negative free cash flow growth rate, indicating cash flow challenges. The operating cash flow to net income ratio is low at 0.18, suggesting limited cash generation from operations relative to net income. The free cash flow to net income ratio is negative, highlighting potential liquidity issues.

Breakdown	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	32.16M	22.91M	28.33M	25.68M	26.80M
Gross Profit	9.63M	-1.50M	5.19M	5.31M	6.40M
EBITDA	2.82M	-637.00K	901.00K	6.36M	6.05M
Net Income	215.00K	-5.26M	1.63M	2.40M	2.89M
Balance Sheet
Total Assets	56.00M	50.91M	51.97M	52.04M	46.47M
Cash, Cash Equivalents and Short-Term Investments	3.50M	7.08M	5.66M	9.31M	5.17M
Total Debt	733.00K	384.00K	758.00K	898.00K	947.00K
Total Liabilities	15.13M	12.13M	11.37M	11.99M	10.19M
Stockholders Equity	40.87M	38.78M	40.60M	40.05M	36.28M
Cash Flow
Free Cash Flow	-1.90M	-3.83M	-854.00K	3.08M	6.15M
Operating Cash Flow	2.35M	-2.32M	1.89M	5.83M	7.73M
Investing Cash Flow	-4.25M	-1.47M	-2.19M	-1.02M	-1.12M
Financing Cash Flow	-243.00K	553.00K	-390.00K	-611.00K	-3.96M

Starcore International Mine Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.90
• 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:SAM, the sentiment is Positive. The current price of 0.9 is below the 20-day moving average (MA) of 1.17, below the 50-day MA of 0.91, and above the 200-day MA of 0.49, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 69.48 is Neutral, neither overbought nor oversold. The STOCH value of 79.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SAM.

Starcore International Mine Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAM	63 Neutral	C$133.00M	42.59	1.79%	―	26.16%	-8.73%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NKG	50 Neutral	C$106.02M	-6.54	-74.18%	―	―	42.92%
FSY	50 Neutral	C$124.81M	-40.87	-9.83%	―	―	49.12%
AZM	48 Neutral	C$106.77M	-50.78	-4.67%	―	―	-5360.00%
CRI	44 Neutral	C$57.69M	-11.24	-127.83%	―	―	72.34%

Starcore International Mine Corporate Events

Starcore International Mines Reports Q2 2025 Results Amid Production Challenges

Starcore International Mines Ltd. reported its second-quarter results for the period ending October 31, 2025, highlighting a loss of $0.7 million despite gold and silver sales totaling $10.7 million. The company has been addressing production issues and expects improvements in the coming quarter. Financial highlights include a cash reserve of $9.8 million and working capital of $7.0 million. The company’s EBITDA for the six-month period was $1.7 million, reflecting an EBITDA margin of 8.9%. Production highlights for the quarter included equivalent gold production of 1,860 ounces, with mine operating cash costs of US$2,625 per equivalent ounce.

The most recent analyst rating on (TSE:SAM) stock is a Hold with a C$0.70 price target. To see the full list of analyst forecasts on Starcore International Mine stock, see the TSE:SAM Stock Forecast page.

Starcore International Mines Reports Second Quarter Production Challenges and Solutions

Starcore International Mines reported a decrease in metal production for the second quarter of fiscal 2026 at its San Martin Mine in Mexico, primarily due to clay presence causing a ‘preg-robbing’ effect and carbon fines absorbing gold and silver. To address these issues, the company optimized its CIL plant, installed filter presses, and began separating processing circuits. These improvements, along with a new cyanide destruction module, are expected to enhance recovery rates and allow processing of stockpiled ore, potentially stabilizing production and maintaining profitability.

The most recent analyst rating on (TSE:SAM) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Starcore International Mine stock, see the TSE:SAM Stock Forecast page.