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Monument Mining
(MMY)
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Rating:70Outperform
Price Target:
C$0.78
▼(-26.10% Downside)
Action:Reiterated
Date:10/01/26
Overall score reflects strong fundamentals (profitability and cash-flow improvement alongside a conservatively capitalized balance sheet) and an inexpensive valuation (very low P/E), partially offset by weak technicals with the stock trading below major moving averages and subdued momentum indicators.
Positive Factors
Profitability turnaround
Profitability and scale improved materially after the 2021–2023 loss period, while revenue surged in 2024–2025 and stayed high in 2026. This indicates stronger operating earnings capacity over the next several quarters, although gold-market exposure remains relevant.
Negative Factors
Historical earnings volatility
Results remain historically uneven: 2021–2023 included losses, weak operating cash flow and weak or negative free cash flow. That record indicates earnings and cash conversion have not yet been consistently durable across operating conditions, increasing execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability turnaround
Profitability and scale improved materially after the 2021–2023 loss period, while revenue surged in 2024–2025 and stayed high in 2026. This indicates stronger operating earnings capacity over the next several quarters, although gold-market exposure remains relevant.
Read all positive factors
Monument Mining (MMY) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$244.23M
Dividend Yield1.6%
Average Volume (3M)370.74K
Price to Earnings (P/E)2.5
Beta (1Y)1.72
Revenue Growth66.66%
EPS Growth73.04%
CountryCA
Employees295
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)0.20
Shares Outstanding346,428,380
10 Day Avg. Volume290,278
30 Day Avg. Volume370,744
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.85
Price to Sales (P/S)1.14
P/FCF Ratio2.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.94Price Target Upside84.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.23
Revenue Forecast (FY)C$205.12M
Monument Mining Business Overview & Revenue Model
Company Description
Monument Mining Limited is an entity focused on gold production and the development of mining assets, with operations spanning Canada, Australia, and Malaysia. The company wholly owns the Selinsing gold mine, situated in the Central Gold Belt of P...
How the Company Makes Money
Monument Mining makes money primarily by producing and selling gold. Its core revenue stream comes from operating gold mines where ore is extracted and processed into gold-bearing doré, which is then sold to third-party buyers (typically refiners ...
Monument Mining Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | Jun 2026 | Sep 2025 | Sep 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 166.75M | 100.62M | 51.42M | 12.39M | 14.19M |
| Gross Profit | 94.86M | 54.25M | 24.83M | 1.75M | 629.00K |
| EBITDA | 104.34M | 64.42M | 20.27M | -24.78K | -2.41M |
| Net Income | 69.23M | 38.29M | 6.44M | -6.27M | -6.50M |
Balance Sheet | |||||
| Total Assets | 244.68M | 182.47M | 142.01M | 133.12M | 134.03M |
| Cash, Cash Equivalents and Short-Term Investments | 109.38M | 45.84M | 10.86M | 5.67M | 21.07M |
| Total Debt | 188.69K | 194.58K | 168.00K | 298.00K | 299.00K |
| Total Liabilities | 22.27M | 24.03M | 20.87M | 18.94M | 13.59M |
| Stockholders Equity | 222.41M | 158.45M | 121.14M | 114.19M | 120.44M |
Cash Flow | |||||
| Free Cash Flow | 74.27M | 37.70M | 4.33M | -15.00M | -17.54M |
| Operating Cash Flow | 82.72M | 49.63M | 14.38M | 118.00K | -4.55M |
| Investing Cash Flow | -86.47M | -13.81M | -9.37M | -15.12M | -12.99M |
| Financing Cash Flow | -5.15M | -29.58K | -117.00K | -79.00K | -42.27K |
Monument Mining Technical Analysis
Negative
1.05
Price Trends
0.90
Negative
0.86
Negative
0.94
Negative
Market Momentum
-0.05
Negative
31.41
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MMY, the sentiment is Negative. The current price of 1.05 is above the 20-day moving average (MA) of 0.76, above the 50-day MA of 0.90, and above the 200-day MA of 0.94, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 31.41 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MMY.
Monument Mining Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | C$244.23M | 2.54 | 35.15% | 1.60% | 66.66% | 73.04% | |
56 Neutral | C$462.89M | -111.11 | -3.61% | ― | ― | -18.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | C$710.68M | -121.95 | -5.10% | ― | ― | -11.93% | |
50 Neutral | C$355.80M | -44.32 | -9.32% | ― | ― | -88.78% | |
46 Neutral | C$215.54M | 11.85 | 16.61% | 12.67% | ― | ― | |
44 Neutral | C$224.10M | -6.62 | -14.88% | ― | ― | -100.77% |
* General Sector Average
TSE:MMY
Monument Mining
0.71
-0.24
-25.32%
TSE:BYN
Banyan Gold
1.50
0.70
87.50%
TSE:RDS
Radisson Mining Resources
0.90
0.19
26.76%
TSE:GOLD
GoldMining
1.04
-0.89
-46.11%
TSE:WRLG
West Red Lake Gold Mines
0.52
-0.36
-40.91%
TSE:SIG
Sitka Gold Corp.
0.82
-0.24
-22.64%
Monument Mining Corporate Events
Business Operations and StrategyLegal Proceedings
Monument Mining Updates Court Dispute Over Tuckanarra Gold Joint Venture
Negative
Oct 20, 2026
Monument Mining has provided an update on a dispute within the Tuckanarra Gold Project joint venture in Western Australia, where its subsidiary Monument Murchison holds a 20% interest and Odyssey Gold’s unit Tuckanarra Resources holds 80%. T...
Business Operations and StrategyLegal Proceedings
Monument Ousts Tuckanarra as Manager of Tuckanarra Gold Joint Venture
Negative
Oct 13, 2026
Monument Mining has removed Tuckanarra Resources as manager of the Tuckanarra Gold Project joint venture, citing a material breach of the exploration agreement after Tuckanarra allegedly entered a toll milling deal without Monument’s consent...
Business Operations and StrategyDividendsFinancial Disclosures
Monument Mining Doubles Earnings as Selinsing Cash Flow Strengthens Balance Sheet
Positive
Sep 30, 2026
Monument Mining reported a strong fiscal 2026, with gold production of 44,942 ounces generating revenue of US$165.72 million, up significantly from the prior year. Net earnings rose to US$68.80 million, cash flow increased to US$82.21 million, and...
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.