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Dynacor Gold Mines
(TSX:DNG)
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Rating:71Outperform
Price Target:
C$6.00
▼(-0.99% Downside)
Action:Reiterated
Date:08/17/26
Overall score is driven primarily by strong solvency and profitability trends (very low leverage and solid earnings) but is held back by the sharp deterioration in TTM cash conversion (negative operating and free cash flow despite profits). Valuation is a key offset (low P/E and solid dividend yield), while technical signals are mixed with weaker short-term trend.
Positive Factors
Strong Revenue Growth
The substantial expansion in revenue indicates that Dynacor has materially increased the scale of its processing and gold-selling operations. Continued growth in throughput and sales can strengthen operating leverage, improve market relevance, and provide a broader base for sustaining profitability over the next several quarters.
Negative Factors
Negative Cash Conversion
The sharp divergence between accounting profit and cash generation is a material quality-of-earnings concern. Negative operating and free cash flow can reduce internally available funding, increase dependence on working-capital management, and make it harder to finance growth until conversion returns to a more normal level.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The substantial expansion in revenue indicates that Dynacor has materially increased the scale of its processing and gold-selling operations. Continued growth in throughput and sales can strengthen operating leverage, improve market relevance, and provide a broader base for sustaining profitability over the next several quarters.
Read all positive factors
Dynacor Gold Mines (DNG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$220.65M
Dividend Yield3.04%
Average Volume (3M)64.52K
Price to Earnings (P/E)7.6
Beta (1Y)1.50
Revenue Growth71.92%
EPS Growth18.94%
CountryCA
Employees594
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.50
Shares Outstanding41,948,772
10 Day Avg. Volume74,541
30 Day Avg. Volume64,519
Financial Highlights & Ratios
PEG Ratio0.53
Price to Book (P/B)1.32
Price to Sales (P/S)0.44
P/FCF Ratio56.73
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)0.67
Revenue Forecast (FY)C$835.37M
Dynacor Gold Mines Business Overview & Revenue Model
Company Description
Dynacor Group Inc. is a Montreal, Canada-headquartered company, established in 2006, that focuses on the exploration, development, and extraction of mineral resources throughout Peru. Their primary efforts involve unearthing deposits rich in gold,...
How the Company Makes Money
Dynacor primarily makes money through a toll-like processing model centered on purchasing ore and selling the resulting refined gold. The company buys gold-bearing ore from artisanal and small-scale miners, processes that ore at its facility (crus...
Dynacor Gold Mines Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 532.29M | 404.55M | 284.40M | 250.19M | 197.55M | 195.91M |
| Gross Profit | 49.61M | 43.59M | 35.80M | 30.20M | 24.43M | 27.06M |
| EBITDA | 37.03M | 31.31M | 30.80M | 26.61M | 21.53M | 23.46M |
| Net Income | 21.08M | 21.66M | 16.88M | 15.07M | 12.01M | 11.78M |
Balance Sheet | ||||||
| Total Assets | 187.47M | 181.13M | 125.26M | 111.78M | 96.90M | 91.36M |
| Cash, Cash Equivalents and Short-Term Investments | 14.74M | 33.43M | 24.88M | 22.48M | 25.41M | 26.91M |
| Total Debt | 485.06K | 518.41K | 1.11M | 635.69K | 701.23K | 343.97K |
| Total Liabilities | 46.61M | 46.47M | 26.10M | 22.19M | 16.62M | 19.35M |
| Stockholders Equity | 140.86M | 134.66M | 99.16M | 89.59M | 80.28M | 72.01M |
Cash Flow | ||||||
| Free Cash Flow | -37.26M | 3.12M | 10.87M | 3.04M | 2.57M | 18.42M |
| Operating Cash Flow | -9.85M | 12.18M | 16.13M | 9.61M | 6.23M | 21.87M |
| Investing Cash Flow | -24.42M | -13.09M | -11.16M | -6.45M | -3.51M | -3.21M |
| Financing Cash Flow | -5.40M | 14.31M | -7.56M | -6.28M | -4.22M | -3.41M |
Dynacor Gold Mines Technical Analysis
Neutral
6.06
Price Trends
5.42
Negative
5.83
Negative
5.94
Negative
Market Momentum
-0.05
Negative
51.24
Neutral
60.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DNG, the sentiment is Neutral. The current price of 6.06 is above the 20-day moving average (MA) of 5.12, above the 50-day MA of 5.42, and above the 200-day MA of 5.94, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 51.24 is Neutral, neither overbought nor oversold. The STOCH value of 60.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:DNG.
Dynacor Gold Mines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$528.43M | 2.67 | 197.04% | 2.62% | 87.76% | ― | |
71 Outperform | C$220.65M | 7.57 | 15.46% | 3.04% | 71.92% | 18.94% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | C$162.75M | -17.32 | -10.33% | ― | ― | -14.08% | |
45 Neutral | C$77.46M | -4.00 | -24.80% | ― | -19.28% | -210.36% |
* Basic Materials Sector Average
TSE:DNG
Dynacor Gold Mines
5.21
1.02
24.34%
TSE:ELO
Eloro Resources
1.32
-0.01
-0.75%
TSE:SOMA
Soma Gold
0.52
-0.77
-59.69%
TSE:FISH
Sailfish Royalty
6.49
3.88
148.75%
TSE:CERT
Cerrado Gold
2.28
0.82
56.16%
Dynacor Gold Mines Corporate Events
Business Operations and StrategyDividends
Dynacor Declares November Monthly Dividend and Highlights Responsible Gold Focus
Positive
Oct 27, 2026
Dynacor Group Inc., a Canadian ore processing specialist, produces responsibly sourced gold from formalized artisanal miners through its Veta Dorada plant and Peruvian exploration assets. The company targets traceable, audited supply chains for lu...
Business Operations and Strategy
Dynacor Pours First Gold at New Senegal Pilot Plant, Marking African Expansion
Positive
Oct 5, 2026
Dynacor has completed its first gold doré pour at the Galam pilot plant in Senegal, marking the company’s inaugural gold production in Africa and the successful commissioning of the 50-tonne-per-day modular processing facility. Located ...
Business Operations and StrategyExecutive/Board Changes
Dynacor Names New COO to Drive South America and Africa Expansion
Positive
Oct 1, 2026
Dynacor Group Inc., a Canadian ore processing specialist, produces gold from formalized artisanal miners under tight traceability and audit standards. Operating the Veta Dorada plant and a gold exploration asset in Peru, the company is expanding i...
Business Operations and StrategyDividends
Dynacor Group Declares September 2026 Eligible Monthly Dividend
Positive
Aug 25, 2026
Dynacor Group Inc. has declared a monthly dividend of C$0.01333 per common share for September 2026, equivalent to an annualized C$0.16, payable on September 17 to shareholders of record as of September 9. The dividend has been designated as an el...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Dynacor Delivers Record Throughput in Q2 2026 as Tax Dispute in Peru Looms
Neutral
Aug 14, 2026
Dynacor reported strong operational performance in the second quarter of 2026, processing a record 48,300 tonnes and producing 31,907 gold-equivalent ounces, with throughput running above design capacity. Despite robust volumes and $144.4 million ...
Business Operations and Strategy
World Gold Council and Dynacor forge partnership to formalise artisanal gold
Positive
Aug 10, 2026
The World Gold Council and Dynacor Group have signed a memorandum of understanding to advance responsible gold processing and formalisation in the artisanal and small-scale gold mining sector. The partnership combines Dynacor’s experience in...
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.