Thor Explorations (THX) AI Stock Analysis

• Market Cap: C$662.63M
• Dividend Yield: 3.13%
• Average Volume (3M): 702.85K
• Price to Earnings (P/E): 3.5
• Beta (1Y): 1.28
• Revenue Growth: 92.67%
• EPS Growth: 207.16%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.09
• Shares Outstanding: 656,064,700
• 10 Day Avg. Volume: 731,645
• 30 Day Avg. Volume: 702,847
• PEG Ratio: <0.01
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.76
• P/FCF Ratio: 2.53
• 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$1.65
• Price Target Upside: 37.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: C$1.50 ▲(25.00% Upside)

Thor Explorations has a strong financial foundation with impressive growth and profitability metrics, contributing significantly to the overall score. The stock is attractively valued, enhancing its investment appeal. However, mixed technical indicators suggest caution in the short term.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market reach and successful execution of business strategies, enhancing long-term prospects.

Profit Margins

Strong profit margins reflect efficient operations and pricing power, contributing to sustainable profitability and competitive advantage.

Balance Sheet Health

A solid balance sheet with minimal leverage provides financial stability and flexibility to invest in growth opportunities.

Negative Factors

Market Volatility

Higher volatility can lead to unpredictable stock performance, potentially affecting investor confidence and long-term investment stability.

Industry Risks

Operating in a single commodity and region exposes the company to geopolitical and commodity price risks, impacting long-term stability.

Employee Base

A lack of reported employees may indicate potential challenges in scaling operations and managing growth effectively over time.

Thor Explorations Business Overview & Revenue Model

Company Description

Thor Explorations Ltd., a natural resources company, engages in the acquisition, exploration, development, and production of mineral properties in Senegal, Burkina Faso, Nigeria, and Canada. The company primarily explores for gold and silver deposits. Its flagship property is the Segilola gold project located in Osun State, Nigeria. The company was incorporated in 1968 and is based in Vancouver, Canada.

How the Company Makes Money

Thor Explorations generates revenue primarily through the production and sale of gold. The company operates the Segilola Gold Project, which is expected to produce gold at a competitive cost. Revenue is primarily derived from the sale of gold bullion on the open market. Additionally, the company may benefit from strategic partnerships with local and international mining firms, which can provide operational support and enhance its exploration efforts. Factors contributing to its earnings include gold market prices, production efficiency, and the company's ability to expand its resource base through exploration.

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 minimal leverage and strong equity, while cash flow metrics indicate significant cash generation and effective 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	46.94M	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	14.35M	43.20M	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: Positive
• Last Price: 1.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:THX, the sentiment is Positive. The current price of 1.2 is above the 20-day moving average (MA) of 1.12, above the 50-day MA of 1.20, and above the 200-day MA of 0.80, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 57.33 is Neutral, neither overbought nor oversold. The STOCH value of 85.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:THX.

Thor Explorations Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
THX	78 Outperform	C$662.63M	3.48	68.37%	3.13%	92.67%	207.16%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RIO	50 Neutral	C$924.23M	-1,653.85	3.01%	―	―	―
RBX	49 Neutral	C$1.00B	-17.11	-25.39%	―	29.47%	1.53%
PRB	47 Neutral	C$750.72M	-31.03	-81.62%	―	―	18.96%
FDR	46 Neutral	C$389.54M	-54.34	-9.95%	―	―	46.54%
RML	25 Underperform	C$701.96M	―	―	―	―	-12.17%

Thor Explorations Corporate Events

Thor Explorations Announces Virtual AGM for December 2025

Thor Explorations Ltd. has announced that its Annual General Meeting (AGM) will be held virtually on December 12, 2025. Shareholders are encouraged to vote by proxy and can attend the meeting online. This virtual format accommodates the company’s geographically diverse shareholder base, ensuring broader participation and engagement.

Thor Explorations Announces Investor Webinar for Q3 2025 Results

Thor Explorations Ltd. announced an upcoming investor webinar led by President and CEO Segun Lawson to discuss the company’s Q3 2025 financial and operating results. The session, scheduled for November 20, 2025, will provide insights into the company’s performance and is open to existing and potential investors. This initiative reflects Thor’s commitment to transparency and engagement with its stakeholders, potentially impacting investor confidence and market perception.

Thor Explorations Confirms Exchange Rates for Upcoming Dividend

Thor Explorations Ltd. has announced the foreign exchange rates applicable to its quarterly dividend, initially declared on October 14, 2025. Shareholders opting to receive dividends in Sterling or USD will have exchange rates of CAD$1:£0.5416 and CAD$1:US$0.7114 applied, resulting in dividends of £0.00677 and US$0.008893 per share, respectively. The dividend payment is scheduled for November 14, 2025.

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.