ShaMaran Petroleum Corp (TSE:SNM)
:SNM
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ShaMaran Petroleum
(SNM)
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Rating:65Neutral
Price Target:
C$0.21
▼(-3.18% Downside)
Action:Reiterated
Date:05/09/26
The score is driven mainly by improved fundamentals (earnings recovery and better leverage) but is capped by weaker recent free-cash-flow conversion and a below-trend technical setup. Valuation is a notable positive due to the low P/E.
Positive Factors
Improved leverage
Debt-to-equity improving to ~0.50 materially strengthens financial flexibility for an E&P company. This reduces near-term refinancing pressure, supports funding of development activity, and lowers vulnerability to commodity-driven revenue shocks across the next several quarters.
Negative Factors
Weak free-cash-flow conversion
FCF converting at ~41% of net income and a ~-62% FCF decline reduces internally available funds for capex, dividends, and debt paydown. Over months this raises reliance on external financing or asset sales and increases vulnerability to delays in payments or higher reinvestment needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Debt-to-equity improving to ~0.50 materially strengthens financial flexibility for an E&P company. This reduces near-term refinancing pressure, supports funding of development activity, and lowers vulnerability to commodity-driven revenue shocks across the next several quarters.
Read all positive factors
ShaMaran Petroleum (SNM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$546.87M
Dividend YieldN/A
Average Volume (3M)295.30K
Price to Earnings (P/E)5.9
Beta (1Y)1.11
Revenue Growth26.91%
EPS Growth-44.78%
CountryCA
Employees9
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.01
Shares Outstanding2,878,272,700
10 Day Avg. Volume232,069
30 Day Avg. Volume295,301
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)2.01
Price to Sales (P/S)3.18
P/FCF Ratio12.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)C$173.07M
ShaMaran Petroleum Business Overview & Revenue Model
Company Description
ShaMaran Petroleum Corp., together with its subsidiaries, engages in the exploration and development of oil and gas. The company holds a 27.6% interest in the Atrush Block production sharing contract, which covers an area of 269 square kilometers ...
How the Company Makes Money
ShaMaran makes money primarily through its working interests in oil and gas assets: it earns revenue from the sale of crude oil (and any associated hydrocarbons) produced from fields in which it has an ownership interest. Its upstream revenue mode...
ShaMaran Petroleum Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
72
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 157.23M | 157.58M | 109.39M | 82.89M | 176.66M | 102.32M |
| Gross Profit | 74.79M | 65.08M | 43.28M | 30.52M | 105.94M | 49.89M |
| EBITDA | 109.78M | 100.86M | 150.66M | 37.19M | 198.49M | 69.16M |
| Net Income | 45.02M | 27.30M | 82.22M | -26.71M | 114.96M | 13.38M |
Balance Sheet | ||||||
| Total Assets | 464.08M | 451.94M | 494.69M | 450.41M | 498.69M | 368.46M |
| Cash, Cash Equivalents and Short-Term Investments | 36.55M | 42.05M | 76.79M | 48.88M | 69.27M | 43.59M |
| Total Debt | 132.50M | 132.18M | 215.19M | 273.98M | 285.51M | 302.80M |
| Total Liabilities | 199.79M | 202.62M | 271.49M | 310.98M | 335.00M | 349.93M |
| Stockholders Equity | 264.29M | 249.32M | 223.20M | 139.43M | 163.69M | 18.54M |
Cash Flow | ||||||
| Free Cash Flow | 20.70M | 41.32M | 89.20M | 12.44M | 79.44M | 49.68M |
| Operating Cash Flow | 50.31M | 49.89M | 97.97M | 40.48M | 105.28M | 63.90M |
| Investing Cash Flow | -31.80M | -8.66M | -4.05M | -22.28M | -123.69M | 9.70M |
| Financing Cash Flow | -61.56M | -76.69M | -89.10M | -52.26M | -47.48M | 69.75M |
ShaMaran Petroleum Technical Analysis
Negative
0.22
Price Trends
0.20
Negative
0.22
Negative
0.23
Negative
Market Momentum
>-0.01
Positive
46.50
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SNM, the sentiment is Negative. The current price of 0.22 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.20, and below the 200-day MA of 0.23, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.50 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SNM.
ShaMaran Petroleum Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$543.27M | -15.54 | 8.84% | ― | 55.97% | 262.69% | |
66 Neutral | C$987.42M | -9.41 | 1.01% | 7.59% | -12.78% | ― | |
65 Neutral | C$546.87M | 5.87 | 18.59% | ― | 26.91% | -44.78% | |
62 Neutral | C$1.29B | 67.03 | 2.21% | ― | -15.99% | -93.93% | |
58 Neutral | C$1.84B | -4.63 | 61.60% | ― | 592.03% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | C$1.13B | -11.89 | 0.08% | ― | -34.90% | ― |
* General Sector Average
TSE:SNM
ShaMaran Petroleum
0.19
<0.01
2.70%
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ShaMaran Petroleum Corporate Events
Business Operations and Strategy
ShaMaran Halts Kurdistan Output After Explosion at Sarsang Facility
Negative
Mar 6, 2026
ShaMaran Petroleum reported that an explosion occurred at a processing facility in the Sarsang field in the Kurdistan region of Iraq, operated by HKN Energy. All personnel were safely accounted for with no injuries, and the operator is working wit...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresShareholder Meetings
ShaMaran lifts 2025 earnings on Kurdistan export restart and eyes Oslo listing
Positive
Mar 5, 2026
ShaMaran reported a sharp improvement in 2025 financial performance, with fourth-quarter revenue up 57% year on year to $54.7 million and full-year revenue up 42% to $154.9 million, driven by the resumption of international oil exports at higher c...
Business Operations and Strategy
ShaMaran Flags Precautionary Production Halt in Kurdistan on Security Concerns
Negative
Mar 2, 2026
ShaMaran Petroleum reported that HKN Energy, operator of the Atrush and Sarsang blocks in the Kurdistan Region of Iraq, has temporarily shut in production at both fields as a precaution amid a deteriorating regional security environment. The compa...
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.