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Americas Gold and Silver
(TSX:USA)
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Rating:59Neutral
Price Target:
C$7.50
▼(-16.29% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving—but still subpar—financial performance: operating metrics and operating cash flow have turned up, yet the company remains loss-making with deeply negative free cash flow. The latest earnings call adds meaningful support due to strong operational momentum, reiterated guidance, and balance-sheet simplification, while technicals are moderately constructive but show signs of near-term overextension. Valuation is a detractor because negative earnings (negative P/E) and the absence of a dividend provide limited valuation support.
Positive Factors
Operational Scaling and Cost Improvement
Higher recoveries, lower unit costs and materially greater Galena hoisting capacity improve operating leverage. These mine-level gains can support production growth and more resilient margins beyond a single reporting period.
Negative Factors
Persistent Net Losses
Despite improved revenue and adjusted EBITDA, the company has not yet converted operational gains into sustainable net profitability. Continued losses constrain internally generated capital and leave results vulnerable to operating or commodity-price setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational Scaling and Cost Improvement
Higher recoveries, lower unit costs and materially greater Galena hoisting capacity improve operating leverage. These mine-level gains can support production growth and more resilient margins beyond a single reporting period.
Read all positive factors
Americas Gold and Silver (USA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.51B
Dividend YieldN/A
Average Volume (3M)1.23M
Price to Earnings (P/E)―
Beta (1Y)3.55
Revenue Growth86.08%
EPS Growth49.18%
CountryCA
Employees659
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.16
Shares Outstanding338,157,620
10 Day Avg. Volume1,148,861
30 Day Avg. Volume1,226,465
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)7.35
Price to Sales (P/S)13.81
P/FCF Ratio-22.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$12.40Price Target Upside38.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.12
Revenue Forecast (FY)C$252.03M
Americas Gold and Silver Business Overview & Revenue Model
Company Description
Americas Gold and Silver Corporation, together with its subsidiaries, engages in the exploration, development, and production of mineral properties in the Americas. The company explores for gold, silver, zinc, lead, and other by-products. The comp...
How the Company Makes Money
Americas Gold and Silver primarily makes money by producing and selling metals—most notably silver—from its mining operations. Revenue is generated when ore is mined and processed into saleable products (such as concentrates and/or doré, depending...
Americas Gold and Silver Earnings Call Summary
Earnings Call Date:Aug 14, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
The call conveys materially positive operational and financial momentum: marked revenue growth (+71% Q2; +126% H1), higher realized silver prices, significant operational wins at Cosala and Galena (26% YoY production increase at Cosala; major shaft upgrades), strong drilling results, improved adjusted EBITDA and strengthened liquidity. Offsetting items include a remaining net loss, FX/derivative and tax charges, a minor fire that deferred some high-grade ounces, and execution concentration in H2 alongside modest dilution from obligation settlements. Overall, operational improvements and balance-sheet simplification substantially outweigh the transitory and non-operational headwinds.Positive Updates
Strong Revenue Growth
Consolidated revenue increased 71% year-over-year to $46.3 million in Q2 2026; first-half 2026 revenue reached $114 million, up 126% versus H1 2025.
Negative Updates
Continuing Net Loss
Company remains net loss-making in Q2 2026 (~$5 million), albeit materially improved versus prior year; adjusted earnings still a small loss (~$0.9 million).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Consolidated revenue increased 71% year-over-year to $46.3 million in Q2 2026; first-half 2026 revenue reached $114 million, up 126% versus H1 2025.
Read all positive updates
Company Guidance
The company reiterated it is on track to meet full‑year 2026 silver production guidance of 3.2–3.6 million ounces, with production skewed to the second half of the year (~60% H2 weighting), noting consolidated Q2 silver production of ~665,000 oz (a little over 800,000 oz silver equivalent) and H1 revenue of $114 million (Q2 revenue $46.3M); Q2 average realized silver price was $67/oz (vs $34/oz in Q2‑2025). Financial and cost metrics reported for Q2 included consolidated cost of sales of $32 per silver equivalent oz sold, cash costs of $25.68/oz, AISC of $40.63/oz (H1 AISC $37/oz), adjusted EBITDA of ~$12M, net loss of ~$5M ($0.02/share) and adjusted loss of ~$0.9M, while ending the quarter with ~$89M cash and ~$49M working capital. Operational guidance drivers highlighted: Cosala Q2 production ~337,000 oz (up 26% YoY) with cash costs of $16.91/oz and ~10% higher recoveries, Galena hoisting capacity increased from ~42 t/hr to a sustained ~85 t/hr (peaks ~105 t/hr), continued ramp of long‑hole stoping and upcoming paste‑fill commissioning, and a 0 lost‑time accident safety record extending over a year. Strategically, settlements removed >$76M of variable metal‑price obligations and >$28M of annual debt service for ~3.3% dilution, strengthening the balance sheet and supporting the company’s stated production and capital deployment plans.Americas Gold and Silver Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
67
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 182.20M | 117.93M | 100.19M | 95.16M | 85.02M | 45.05M |
| Gross Profit | 68.66M | 11.84M | -6.64M | -6.35M | -8.42M | -55.54M |
| EBITDA | 13.48M | -56.27M | -16.74M | -11.20M | -18.33M | -141.52M |
| Net Income | -48.46M | -87.45M | -44.95M | -34.96M | -43.10M | -157.67M |
Balance Sheet | ||||||
| Total Assets | 431.61M | 413.00M | 192.64M | 180.49M | 190.82M | 213.43M |
| Cash, Cash Equivalents and Short-Term Investments | 88.74M | 129.78M | 20.00M | 2.06M | 1.96M | 2.90M |
| Total Debt | 55.64M | 45.71M | 20.29M | 21.91M | 12.34M | 19.61M |
| Total Liabilities | 136.05M | 191.38M | 139.19M | 108.29M | 92.23M | 109.60M |
| Stockholders Equity | 295.55M | 221.62M | 53.45M | 53.42M | 81.23M | 93.07M |
Cash Flow | ||||||
| Free Cash Flow | -69.54M | -73.19M | -21.92M | -20.95M | -20.78M | -63.59M |
| Operating Cash Flow | 44.12M | -3.94M | -3.07M | -1.01M | -1.18M | -50.95M |
| Investing Cash Flow | -113.76M | -68.24M | -18.85M | -18.13M | -19.60M | -14.08M |
| Financing Cash Flow | 94.26M | 182.90M | 35.12M | 20.32M | 17.44M | 63.42M |
Americas Gold and Silver Technical Analysis
Negative
8.96
Price Trends
6.60
Positive
7.34
Negative
8.12
Negative
Market Momentum
0.22
Positive
50.17
Neutral
35.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:USA, the sentiment is Negative. The current price of 8.96 is above the 20-day moving average (MA) of 7.37, above the 50-day MA of 6.60, and above the 200-day MA of 8.12, indicating a neutral trend. The MACD of 0.22 indicates Positive momentum. The RSI at 50.17 is Neutral, neither overbought nor oversold. The STOCH value of 35.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:USA.
Americas Gold and Silver Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | C$1.93B | 7.53 | 47.01% | 11.33% | 45.38% | 86.16% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | C$2.51B | -35.06 | -24.01% | ― | 86.08% | 49.18% | |
50 Neutral | C$1.97B | -22.55 | -14.57% | ― | ― | -2891.88% | |
48 Neutral | C$1.18B | -15.62 | -85.35% | ― | ― | -66.81% | |
46 Neutral | C$322.92M | -11.62 | -59.68% | ― | ― | -378.81% | |
31 Underperform | C$794.63M | -11.74 | -40.69% | ― | ― | -431.79% |
* Basic Materials Sector Average
TSE:USA
Americas Gold and Silver
7.38
3.61
95.76%
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Troilus Gold Corp
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TSE:VZLA
Vizsla Silver
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8.03%
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.