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Apollo Gold (APGO) AI Stock Analysis

TSE:APGO

Apollo Gold

(TSXV:APGO)

Select Model
Rating:39Underperform
Price Target:CAD 1.50â–¼(-13.79% Downside)
Action:reiterated
Date:10/31/26

The score is driven primarily by severe financial weakness, especially zero revenue, worsening losses, and persistent cash burn. Bearish technical trends and the lack of meaningful valuation support further limit the score, although oversold momentum indicators and very low leverage provide modest offsets.

Positive Factors
Low Financial LeverageExtremely low leverage gives Apollo Gold greater financial flexibility than a highly indebted company while it remains pre-revenue. Minimal interest burden preserves more available capital for exploration and development, and reduces solvency pressure if operating losses continue over the next several quarters.
Negative Factors
Pre-Revenue Operating ProfileThe absence of revenue means Apollo Gold has not yet demonstrated commercial production or a recurring operating model. Persistently negative gross profit indicates that current activities do not cover direct costs, leaving future value dependent on converting its development profile into sustainable revenue generation.

Apollo Gold (APGO) vs. iShares MSCI Canada ETF (EWC)

-75%-50%-25%0%25%50%75%100%TSE:APGO-50.99%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 109.94M
Dividend Yield
―
Average Volume (3M)
129.67K
Price to Earnings (P/E)
-5.9
Beta (1Y)
2.96
Revenue Growth
―
EPS Growth
-77.79%
Country
Canada
Employees
8
Sector
General
Sector Strength
55
Industry
Silver

Apollo Gold Business Overview & Revenue Model

Company Description

Apollo Silver Corp. is an American-focused enterprise dedicated to the exploration and development of silver properties. The company possesses significant land interests in California's Mojave Desert, within San Bernardino County. These include the W...

How the Company Makes Money

null

Apollo Gold Financial Statement Overview

Summary

Severe financial weakness: zero revenue, worsening net losses, negative operating cash flow, and negative free cash flow. Low leverage supports the balance sheet, but it does not offset the company's deteriorating profitability and cash burn.

Income Statement

3Very Negative

Balance Sheet

62Positive

Cash Flow

8Very Negative
Financial statement breakdown
BreakdownTTMFeb 2026Feb 2025Feb 2024Feb 2023Feb 2022
Income Statement
Total Revenue000000
Gross Profit-185.86K-143.87K-139.23K-139.00K-133.00K-9,980
EBITDA-16.76M-9.48M-2.94M-3.98M-10.85M-2.70M
Net Income-16.42M-9.38M-2.99M-4.15M-10.61M-2.71M
Balance Sheet
Total Assets55.86M33.96M14.12M3.91M92.90M95.20M
Cash, Cash Equivalents and Short-Term Investments54.76M31.70M13.68M3.56M9.36M15.75M
Total Debt353.19K175.42K113.42K155.68K243.35K214.06K
Total Liabilities922.44K767.63K404.32K365.54K2.48M2.72M
Stockholders Equity54.94M33.20M13.71M3.54M90.41M92.49M
Cash Flow
Free Cash Flow-12.15M-8.82M-2.88M-5.69M-9.29M-40.28M
Operating Cash Flow-12.06M-8.81M-2.87M-5,683-8.83M-4.10M
Investing Cash Flow-88.82K-14.26K-9,100-3,643-451.98K-36.18M
Financing Cash Flow58.40M26.76M13.01M-116.32K2.75M49.88M

Apollo Gold Technical Analysis

Technical Analysis SentimentNegative
Last Price1.74

Price Trends

50DMA2.85Negative
100DMA2.82Negative
200DMA3.38Negative

Market Momentum

MACD-0.30Positive
RSI28.10Positive
STOCH16.09Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:APGO, the sentiment is Negative. The current price of 1.74 is below the 20-day moving average (MA) of 2.26, below the 50-day MA of 2.85, and below the 200-day MA of 3.38, indicating a bearish trend. The MACD of -0.30 indicates Positive momentum. The RSI at 28.10 is Positive, neither overbought nor oversold. The STOCH value of 16.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:APGO.

Apollo Gold Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:APGO against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:GSVRTSE:GSVR45NeutralCAD 227.70M-4.06-59.58%―59.54%-45.48%
TSE:BNKRTSE:BNKR41NeutralCAD 135.01M0.000.00%――-166.50%
TSE:KTNTSE:KTN41NeutralCAD 80.61M-8.13-12.39%――-44.58%
TSE:SVRSTSE:SVRS39UnderperformCAD 304.62M-10.94-42.64%――-42.53%
TSE:APGOTSE:APGO39UnderperformCAD 109.94M-5.94-32.34%――-77.79%
TSE:AGAGTSE:AGAG36UnderperformCAD 92.91M-3.22-76.19%――-134.24%

* General Sector Average

Performance Comparison

0%100%200%TSE:APGOTSE:AGAGTSE:SVRSTSE:KTNTSE:GSVRTSE:BNKRDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:APGO and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:APGOApollo Gold Corp.1.74-2.28-56.72%
TSE:AGAGArgenta Silver Corp0.32-0.42-56.76%
TSE:SVRSSilver Storm Mining Ltd0.350.1040.00%
TSE:KTNKootenay Silver0.78-0.62-44.29%
TSE:GSVRGuanajuato Silver Company Ltd.0.30-0.04-10.45%
TSE:BNKRBunker Hill Mining Corp2.86-3.97-58.10%

Apollo Gold Corporate Events

Business Operations and StrategyFinancial Disclosures

Apollo Silver Unveils Robust PEA for California Calico Project

Positive
Oct 29, 2026

Apollo Silver Corp. has reported a positive preliminary economic assessment for its Calico Silver Project in California, centered on an open pit operation at the Waterloo deposit feeding an 8,000 tpd mill. The study, prepared by SLR Consulting under...

Business Operations and Strategy

Apollo Silver Refutes Reports of Ejido Vote on Mining Ban

Neutral
Sep 21, 2026

Apollo Silver has moved to correct media reports about a September 20 community assembly of Ejido Benito Juárez in Chihuahua, Mexico, where certain outlets claimed the community voted to reaffirm a 2012 ban on mining. The company says the assemb...

Business Operations and Strategy

Apollo Silver Awaits Renewed Community Vote on Access to Cinco de Mayo Project

Neutral
Sep 21, 2026

Apollo Silver Corp. says the Ejido Benito Juárez community in Chihuahua, Mexico will reconvene an assembly to consider lifting a moratorium on mineral exploration and development affecting lands that include the Cinco de Mayo project, and to rev...

Business Operations and StrategyExecutive/Board Changes

Apollo Silver refreshes finance leadership as it advances key silver projects

Positive
Sep 1, 2026

Apollo Silver Corp., a silver-focused exploration and development company, is advancing the Calico Silver Project in the U.S., a large undeveloped primary silver asset with barite and zinc by-products, and holds an option on the Cinco de Mayo CRD pro...

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.

Date of analysis: Oct 31, 2026