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Azimut Exploration
(AZM)
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Rating:58Neutral
Price Target:
C$0.69
▲(20.35% Upside)
Action:Reiterated
Date:09/15/26
The score is held back primarily by weak operating performance and ongoing cash burn (negative operating/free cash flow and persistent operating losses), despite a very strong, low-debt balance sheet. Technicals are modestly supportive with the stock trading above key short- and mid-term averages, and valuation appears low on P/E, but earnings quality concerns limit the benefit.
Positive Factors
Very low leverage
Extremely low leverage gives Azimut substantial financial flexibility relative to a debt-funded business. Minimal interest and refinancing obligations should help preserve capital for exploration, project advancement, and partnership opportunities during periods of uneven results.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow means Azimut is not currently funding its activities from internally generated cash. Continued exploration therefore depends on financing, transactions, or partners, which can constrain flexibility and dilute shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low leverage gives Azimut substantial financial flexibility relative to a debt-funded business. Minimal interest and refinancing obligations should help preserve capital for exploration, project advancement, and partnership opportunities during periods of uneven results.
Read all positive factors
Azimut Exploration (AZM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$66.51M
Dividend YieldN/A
Average Volume (3M)71.86K
Price to Earnings (P/E)7.3
Beta (1Y)1.03
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees11
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.09
Shares Outstanding100,779,310
10 Day Avg. Volume36,395
30 Day Avg. Volume71,855
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.21
Price to Sales (P/S)188.37
P/FCF Ratio-8.86
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)N/A
Revenue Forecast (FY)N/A
Azimut Exploration Business Overview & Revenue Model
Company Description
Azimut Exploration Inc. is dedicated to identifying, acquiring, and assessing mineral resource opportunities throughout Canada. The company's exploration activities encompass a broad spectrum of valuable elements, including gold, copper, zinc, sil...
How the Company Makes Money
Azimut Exploration primarily makes money through an exploration “project generator” model rather than from mineral production. Key revenue and funding sources typically include: (1) Option and earn-in agreements (joint ventures): Azimut stakes and...
Azimut Exploration Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
82
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 331.08K | 363.20K | 443.58K | 139.56K | 107.44K | 314.59K |
| Gross Profit | 238.97K | 262.33K | 307.77K | 60.05K | 45.45K | 254.23K |
| EBITDA | -2.50M | -3.29M | -886.00K | -1.74M | -1.70M | -1.49M |
| Net Income | 9.25M | -2.48M | 42.59K | -1.83M | 1.62M | -551.00K |
Balance Sheet | ||||||
| Total Assets | 75.06M | 65.89M | 57.66M | 46.67M | 54.21M | 51.86M |
| Cash, Cash Equivalents and Short-Term Investments | 4.10M | 13.64M | 11.77M | 3.32M | 15.94M | 27.64M |
| Total Debt | 464.14K | 320.33K | 50.67K | 105.16K | 73.44K | 118.66K |
| Total Liabilities | 6.74M | 9.38M | 7.90M | 3.14M | 7.03M | 7.53M |
| Stockholders Equity | 68.32M | 56.51M | 49.76M | 43.53M | 47.18M | 44.33M |
Cash Flow | ||||||
| Free Cash Flow | -5.14M | -7.73M | -11.48M | -17.58M | -15.02M | -13.38M |
| Operating Cash Flow | -2.69M | 2.05M | -512.30K | -735.88K | 1.77M | -846.53K |
| Investing Cash Flow | -7.14M | -8.68M | 1.08M | -10.14M | -15.53M | -9.97M |
| Financing Cash Flow | 8.08M | 8.51M | 7.88M | 158.74K | 158.20K | 32.63M |
Azimut Exploration Technical Analysis
Positive
0.57
Price Trends
0.60
Positive
0.64
Positive
0.71
Negative
Market Momentum
<0.01
Negative
61.23
Neutral
55.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:AZM, the sentiment is Positive. The current price of 0.57 is below the 20-day moving average (MA) of 0.62, below the 50-day MA of 0.60, and below the 200-day MA of 0.71, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.23 is Neutral, neither overbought nor oversold. The STOCH value of 55.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:AZM.
Azimut Exploration Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | C$66.51M | 7.27 | 15.43% | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | C$109.60M | -16.21 | -8.67% | ― | ― | -26.88% | |
48 Neutral | C$90.57M | -12.64 | -13.05% | ― | ― | 40.09% | |
47 Neutral | C$26.17M | -1.81 | -93.19% | ― | ― | 34.25% | |
44 Neutral | C$79.88M | -6.21 | -35.01% | ― | ― | 13.65% |
* General Sector Average
TSE:AZM
Azimut Exploration
0.65
-0.14
-17.72%
TSE:LEO
Lion Copper and Gold
0.24
0.06
33.33%
TSE:RCK
Rock Tech Lithium
0.64
-0.18
-21.95%
TSE:NWST
Northwest Copper
0.36
0.07
22.41%
TSE:ETL
E3 Lithium
1.01
-0.29
-22.31%
TSE:AMC
Arizona Metals
0.20
-0.43
-68.55%
Azimut Exploration Corporate Events
Business Operations and Strategy
Azimut Steps Up Drilling on High-Potential Wabamisk Gold Corridor
Positive
Sep 9, 2026
Azimut Exploration is advancing its wholly owned Wabamisk Property, a large-scale gold target in the James Bay region underpinned by strong geological, geophysical and geochemical signatures. The project benefits from Azimut’s data-driven ex...
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.