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Minera Alamos
(TSX:MAI)
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Rating:42Neutral
Price Target:
C$4.00
▼(-39.49% Downside)
Action:Reiterated
Date:10/14/26
The score is held down primarily by very weak and volatile cash flows alongside inconsistent profitability, despite strong recent revenue growth and a relatively manageable leverage profile. Technical indicators also point to bearish momentum with the stock trading below key moving averages and negative MACD. Valuation provides limited support given the negative P/E and no stated dividend yield.
Positive Factors
Strong revenue growth
The sharp increase in trailing revenue indicates that Minera Alamos has materially expanded its operating scale and is converting its gold-focused assets into sales. If production growth persists, the larger revenue base can support reinvestment in existing operations and development projects.
Negative Factors
Deeply negative cash flow
Large negative operating and free cash flow means the business is not currently funding its activities consistently from internally generated cash. This can increase reliance on financing or asset-level execution, constrain development spending, and heighten risk during periods of weaker operating performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
The sharp increase in trailing revenue indicates that Minera Alamos has materially expanded its operating scale and is converting its gold-focused assets into sales. If production growth persists, the larger revenue base can support reinvestment in existing operations and development projects.
Read all positive factors
Minera Alamos (MAI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$455.29M
Dividend YieldN/A
Average Volume (3M)415.43K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth1140.10%
EPS Growth79.14%
CountryCA
Employees4
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding109,974,300
10 Day Avg. Volume345,082
30 Day Avg. Volume415,432
Financial Highlights & Ratios
PEG Ratio-0.59
Price to Book (P/B)2.59
Price to Sales (P/S)9.85
P/FCF Ratio20.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$8.50Price Target Upside28.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.23
Revenue Forecast (FY)C$209.72M
Minera Alamos Business Overview & Revenue Model
Company Description
Mining Americas, Inc. is a gold production and development company. The firm is engaged in acquiring, exploring, and developing mining projects. It holds interests in Santana, La Fortuna, Cerro de Oro, and Los Verdes projects. The company was foun...
How the Company Makes Money
Minera Alamos makes money primarily by producing and selling gold from its mining operations. The key revenue stream is the sale of doré (unrefined gold-silver bullion) generated from ore mined and processed at its operations—most notably the Sant...
Minera Alamos Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
27
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 37.28M | 8.92M | 13.42M | 21.73M | 897.91K |
| Gross Profit | -11.26M | 1.56M | 348.88K | 3.21M | 842.86K |
| EBITDA | -16.70M | -17.24M | -1.98M | 6.21M | -1.67M |
| Net Income | -31.05M | -17.57M | -2.86M | 5.61M | -1.75M |
Balance Sheet | |||||
| Total Assets | 244.15M | 47.43M | 51.62M | 53.28M | 36.42M |
| Cash, Cash Equivalents and Short-Term Investments | 43.93M | 11.76M | 13.75M | 13.18M | 9.38M |
| Total Debt | 25.33M | 6.38M | 6.27M | 371.97K | 440.74K |
| Total Liabilities | 102.28M | 14.01M | 13.93M | 10.08M | 4.47M |
| Stockholders Equity | 141.87M | 33.43M | 37.69M | 43.21M | 31.95M |
Cash Flow | |||||
| Free Cash Flow | 17.81M | -10.00M | -4.93M | -1.76M | -18.22M |
| Operating Cash Flow | 22.59M | -9.65M | -4.57M | 2.61M | -5.45M |
| Investing Cash Flow | -101.72M | -347.68K | -366.49K | -2.31M | -8.24M |
| Financing Cash Flow | 114.25M | 8.18M | 6.19M | 5.37M | 815.04K |
Minera Alamos Technical Analysis
Negative
6.61
Price Trends
5.53
Negative
5.31
Negative
5.78
Negative
Market Momentum
-0.37
Positive
32.68
Neutral
29.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAI, the sentiment is Negative. The current price of 6.61 is above the 20-day moving average (MA) of 4.74, above the 50-day MA of 5.53, and above the 200-day MA of 5.78, indicating a bearish trend. The MACD of -0.37 indicates Positive momentum. The RSI at 32.68 is Neutral, neither overbought nor oversold. The STOCH value of 29.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MAI.
Minera Alamos Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$364.07M | 7.42 | 23.94% | ― | 104.20% | -43.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$525.91M | -40.63 | -25.50% | ― | ― | 7.50% | |
50 Neutral | C$1.12B | 45.04 | 37.94% | ― | ― | ― | |
46 Neutral | C$236.26M | 12.98 | 16.61% | 12.67% | ― | ― | |
42 Neutral | C$455.29M | -301.69 | 4.79% | ― | 1140.10% | 79.14% |
* Basic Materials Sector Average
TSE:MAI
Minera Alamos
3.93
-0.02
-0.51%
TSE:VGZ
Vista Gold
3.49
1.15
49.15%
TSE:LGD
Liberty Gold
1.93
1.15
147.44%
TSE:WRLG
West Red Lake Gold Mines
0.52
-0.36
-40.91%
TSE:STGO
Steppe Gold
1.40
-0.75
-34.88%
Minera Alamos Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Mining Americas Wins Key Permits for Cerro de Oro Gold Project in Mexico
Positive
Sep 3, 2026
Mining Americas has secured approval from Mexico’s federal environmental authority SEMARNAT for the land use change and environmental impact assessment permits needed to develop its 100%-owned Cerro de Oro open pit, heap leach gold mine in n...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Mining Americas Posts Solid Q2, Ramps Up Pan Mine and Strengthens Balance Sheet
Positive
Aug 17, 2026
Mining Americas reported Q2 2026 revenue of $32.6 million, earnings from mine operations of $13.2 million, adjusted net income of $6.5 million, and adjusted EBITDA of $9.3 million. The company ended the quarter with $43.5 million in cash, $106.3 m...
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.