Thor Explorations (THX) AI Stock Analysis

• Market Cap: C$662.63M
• Dividend Yield: 3.71%
• Average Volume (3M): 702.85K
• Price to Earnings (P/E): 3.5
• Beta (1Y): 1.28
• Revenue Growth: 77.48%
• EPS Growth: 262.88%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.11
• Shares Outstanding: 656,064,700
• 10 Day Avg. Volume: 731,645
• 30 Day Avg. Volume: 702,847
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: C$0.90
• Price Target Upside: -10.89% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: C$1.50 ▲(48.51% Upside)

Thor Explorations' strong financial performance and attractive valuation are the primary drivers of its overall score. However, mixed technical indicators suggest caution. The absence of earnings call and corporate events data limits further insights.

Thor Explorations Business Overview & Revenue Model

Company Description

Thor Explorations Ltd. (THX) is a mineral exploration and development company focused on gold mining projects in West Africa. The company's flagship operation is the Segilola Gold Project in Nigeria, which is considered one of the most advanced gold projects in the region. Thor Explorations is committed to enhancing shareholder value through the development of its mining assets and exploration of its additional prospective properties in Nigeria, Senegal, and Burkina Faso.

How the Company Makes Money

Thor Explorations makes money primarily through the extraction and sale of gold from its mining operations, particularly from its Segilola Gold Project in Nigeria. The company generates revenue by producing gold, which is then sold to various buyers in the international market. In addition to direct gold sales, Thor Explorations may engage in partnerships or joint ventures to facilitate exploration and development activities, which can also contribute to its earnings. The company's financial performance is closely tied to gold prices, production efficiency, and the successful management of its mining operations.

Thor Explorations Financial Statement Overview

Summary

Thor Explorations exhibits strong financial performance with robust revenue growth, high profit margins, and efficient operations. The balance sheet is solid with low leverage, and cash flow metrics indicate strong cash generation and management.

Income Statement

Thor Explorations has demonstrated strong revenue growth with a 12.92% increase in TTM, supported by high gross and net profit margins of 59.37% and 50.58% respectively. The EBIT and EBITDA margins are robust at 52.02% and 66.86%, indicating efficient operations and profitability. The company has shown consistent improvement in profitability metrics over the years, reflecting a positive growth trajectory.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.025, indicating minimal leverage and financial stability. The return on equity is impressive at 59.89%, showcasing effective use of equity to generate profits. The equity ratio stands at 88.65%, reflecting a strong equity base relative to total assets. Overall, the company maintains a healthy financial position with low risk.

Cash Flow

Thor Explorations has shown a significant free cash flow growth of 31.84% in TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 1.63, suggesting efficient conversion of income into cash. The free cash flow to net income ratio is high at 0.93, reflecting effective cash management. The company has improved its cash flow metrics significantly over the years, enhancing its liquidity position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	252.80M	193.13M	141.25M	165.17M	7.82M	0.00
Gross Profit	156.32M	112.18M	38.68M	57.25M	2.51M	-112.34K
EBITDA	172.43M	129.38M	52.22M	85.06M	-1.69M	-3.71M
Net Income	137.40M	91.17M	10.87M	25.40M	-2.51M	-3.87M
Balance Sheet
Total Assets	317.52M	279.07M	259.11M	223.25M	263.22M	141.51M
Cash, Cash Equivalents and Short-Term Investments	52.85M	12.04M	10.39M	6.69M	1.62M	28.26M
Total Debt	5.07M	8.07M	35.26M	43.55M	91.56M	20.64M
Total Liabilities	36.06M	77.82M	146.92M	136.47M	188.05M	63.59M
Stockholders Equity	281.46M	201.25M	111.39M	86.78M	75.17M	77.91M
Cash Flow
Free Cash Flow	97.41M	57.66M	35.41M	55.71M	-63.73M	-12.47M
Operating Cash Flow	102.35M	61.76M	63.84M	84.39M	-22.36M	27.78M
Investing Cash Flow	-16.91M	-12.87M	-38.45M	-30.55M	-44.75M	-46.75M
Financing Cash Flow	-39.97M	-44.70M	-25.07M	-48.43M	37.22M	41.35M

Thor Explorations Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.01
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:THX, the sentiment is Neutral. The current price of 1.01 is below the 20-day moving average (MA) of 1.20, below the 50-day MA of 1.19, and above the 200-day MA of 0.74, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 11.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:THX.

Thor Explorations Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
THX	74 Outperform	C$662.63M	3.48	65.20%	3.71%	77.48%	262.88%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RIO	50 Neutral	C$924.23M	-1,653.85	1.29%	―	―	97.41%
RBX	49 Neutral	C$1.00B	-17.11	-17.15%	―	25.54%	53.84%
PRB	47 Neutral	C$750.72M	-31.03	-67.43%	―	―	40.37%
FDR	46 Neutral	C$389.54M	-54.34	-9.95%	―	―	46.54%
RML	25 Underperform	C$764.63M	―	―	―	―	-103.33%

Thor Explorations Corporate Events

Thor Explorations Reports Strong Q3 2025 Performance and Maintains 2025 Guidance

Thor Explorations Ltd announced its Q3 2025 operational update, highlighting strong performance at the Segilola Gold mine in Nigeria with 22,617 ounces of gold poured and significant revenue from gold sales. The company maintains its production guidance for 2025 and continues its exploration efforts across its portfolio, including advancing the Douta Project in Senegal and exploration in Côte d’Ivoire. The company also announced a dividend payment, reinforcing its commitment to shareholder returns.

Thor Explorations Concludes Initial Drilling at Guitry Project with Promising Results

Thor Explorations Ltd. has concluded its initial drilling campaign at the Guitry Gold Project in Côte d’Ivoire, revealing significant gold intersections. The campaign, which involved 4,604 meters of reverse circulation drilling, aimed to better understand the geological controls on gold mineralization. The results include promising gold grades, with further exploration planned to expand resource definitions and identify new mineralization. This development enhances Thor’s positioning in the West African gold mining sector, particularly in Côte d’Ivoire, a region known for its rich greenstone belts and potential for world-class gold discoveries.

Thor Explorations Expands Stake in Senegal Gold Projects

Thor Explorations Ltd has increased its stake to 100% in the Douta Gold Project in Senegal by acquiring the remaining 30% interest from its joint venture partner, International Mining Company SARL. This acquisition, which involves a cash payment and a net smelter royalty, is expected to streamline the development process and enhance the company’s exposure to project economics. Additionally, Thor has acquired a 65% interest in the Bousankhoba Exploration Permit, expanding its exploration footprint in the region with promising geochemical targets identified.

Thor Explorations Reports Positive Drilling Results at Guitry Gold Project

Thor Explorations Ltd announced further positive results from its maiden drilling campaign at the Guitry Gold Project in Côte d’Ivoire. The recent drilling results have shown high-grade gold mineralization at depth, with significant intersections in both the Central and Southern Zones. The company plans to continue its exploration efforts after the rainy season, aiming to establish a maiden resource by the end of the year. This development enhances Thor’s positioning in the West African gold mining sector, highlighting the potential of Côte d’Ivoire as an emerging region for world-class gold discoveries.

Thor Explorations Unveils High-Grade Gold Finds at Segilola

Thor Explorations Ltd has announced positive results from its diamond drilling program at the Segilola Gold Mine in Nigeria, revealing high-grade gold mineralization beneath the current open pit. This development aims to extend the mine’s life by upgrading the inferred resource and increasing the underground resource size. The company plans to deepen the open pit to recover additional ounces, supported by an increased exploration budget of $11.5 million. These results are significant for Thor’s operational strategy and could enhance its market position by potentially increasing the life of the Segilola mine.

Thor Explorations Achieves Record Financial Results Amidst High Gold Prices

Thor Explorations Ltd reported strong financial and operational results for Q2 and H1 2025, with record revenue, EBITDA, and net profit figures driven by high gold prices and operational efficiencies. The company sold 25,900 ounces of gold in Q2 2025 at an average price of US$3,187 per ounce, achieving significant profit margins. Thor is advancing its exploration efforts at the Segilola Gold Mine and other projects in Senegal and Côte d’Ivoire, aiming to extend mine life and increase resource estimates. The company also continues to focus on environmental, social, and governance initiatives, enhancing community relations and operational sustainability.

Thor Explorations Confirms Foreign Exchange Rates for Quarterly Dividend

Thor Explorations Ltd. has announced the foreign exchange rates for its second quarterly dividend, applicable to shareholders opting to receive payments in GBP or USD. The rates are set at CAD$1:£0.54624 and CAD$1:US$0.72537, translating to dividends of £0.006828 and US$0.009067 per Ordinary Share, respectively, with payment scheduled for August 15, 2025.