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Zacatecas Silver
(ZAC)
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Rating:44Neutral
Price Target:
C$0.06
▼(-17.14% Downside)
Action:Reiterated
Date:09/12/26
The score is weighed down primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn), partially offset by a debt-free balance sheet. Technicals add further pressure with the price below key moving averages and negative MACD, while valuation metrics are not supportive due to a negative P/E and no dividend yield.
Positive Factors
Debt-free balance sheet
A debt-free capital structure reduces refinancing pressure and fixed financial obligations while the company advances its projects. This provides greater flexibility to direct available capital toward exploration and technical work, and lowers solvency risk during periods without operating revenue.
Negative Factors
No operating revenue
Zero revenue confirms that Zacatecas Silver has not yet reached a producing operating model and currently lacks recurring sales to fund its activities. Until a property generates commercial output or is monetized, financial progress remains dependent on exploration success and access to capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free capital structure reduces refinancing pressure and fixed financial obligations while the company advances its projects. This provides greater flexibility to direct available capital toward exploration and technical work, and lowers solvency risk during periods without operating revenue.
Read all positive factors
Zacatecas Silver (ZAC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$15.28M
Dividend YieldN/A
Average Volume (3M)164.75K
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue GrowthN/A
EPS Growth-91.18%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustrySilver
Share Statistics
EPS (TTM)-0.04
Shares Outstanding254,612,630
10 Day Avg. Volume90,893
30 Day Avg. Volume164,755
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)0.64
Price to Sales (P/S)0.00
P/FCF Ratio-9.42
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
Zacatecas Silver Business Overview & Revenue Model
Company Description
Zacatecas Silver Corp. is a Canadian-based company primarily engaged in identifying, developing, and assessing mineral properties within Mexico. Its core objective is to locate promising silver and gold deposits. The company maintains full ownersh...
How the Company Makes Money
Zacatecas Silver does not typically generate steady operating revenue like a producing mining company; its business model is centered on creating value by acquiring and advancing mineral properties. The company’s primary pathway to monetization is...
Zacatecas Silver Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -22.60K | -27.96K | -34.98K | -60.44K | -58.30K | -18.81K |
| EBITDA | -4.49M | -2.99M | -3.52M | 7.95M | -12.73M | -6.89M |
| Net Income | -7.89M | -4.17M | -3.56M | 7.89M | -11.49M | -6.91M |
Balance Sheet | ||||||
| Total Assets | 48.64M | 49.87M | 47.22M | 47.51M | 48.52M | 5.66M |
| Cash, Cash Equivalents and Short-Term Investments | 399.67K | 2.43M | 6.72K | 12.97K | 1.11M | 2.58M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 13.69M | 11.52M | 10.89M | 9.80M | 22.62M | 340.59K |
| Stockholders Equity | 34.96M | 38.35M | 36.33M | 37.71M | 25.91M | 5.32M |
Cash Flow | ||||||
| Free Cash Flow | -3.78M | -2.62M | -2.41M | -4.80M | -19.53M | -6.95M |
| Operating Cash Flow | -3.58M | -2.62M | -2.41M | -4.80M | -12.09M | -4.96M |
| Investing Cash Flow | -196.78K | 0.00 | 0.00 | 0.00 | -7.22M | -2.19M |
| Financing Cash Flow | 3.90M | 5.04M | 2.41M | 3.43M | 17.89M | 363.65K |
Zacatecas Silver Technical Analysis
Negative
0.07
Price Trends
0.06
Negative
0.07
Negative
0.09
Negative
Market Momentum
>-0.01
Negative
43.53
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ZAC, the sentiment is Negative. The current price of 0.07 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and below the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.53 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ZAC.
Zacatecas Silver Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | C$1.18B | 19.65 | 21.53% | ― | 38.31% | -37.20% | |
64 Neutral | C$92.63M | 15.95 | 8.50% | ― | 106.11% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | C$36.36M | 12.66 | 5.31% | ― | ― | -69.27% | |
46 Neutral | C$299.81M | -5.24 | -59.58% | ― | 59.54% | -45.48% | |
44 Neutral | C$15.28M | -1.41 | -21.09% | ― | ― | -91.18% | |
42 Neutral | C$154.27M | -13.81 | -21.83% | ― | ― | 67.17% |
* General Sector Average
TSE:ZAC
Zacatecas Silver
0.06
-0.08
-57.69%
TSE:EXN
Excellon Resources
0.34
0.02
4.62%
TSE:MSV
Minco Silver
0.59
0.29
93.44%
TSE:SCZ
Santacruz Silver Mining
12.57
1.57
14.27%
TSE:GSVR
Guanajuato Silver Company
0.40
-0.07
-15.05%
TSE:IPT
IMPACT Silver
0.26
-0.04
-14.19%
Zacatecas Silver Corporate Events
Business Operations and Strategy
Zacatecas Silver Confirms High-Grade, Near-Surface Mineralization at El Cristo Vein System
Positive
Sep 8, 2026
Zacatecas Silver reported multiple silver and base metal intercepts from phase two diamond drilling at its El Cristo vein system, with mineralization encountered in 11 of 20 holes over 1.5 kilometres of strike within a corridor at least 250 metres...
Business Operations and StrategyPrivate Placements and Financing
Zacatecas Silver Raises $2.5 Million to Fund Mexican Exploration and Oso Negro Drilling
Positive
Aug 29, 2026
Zacatecas Silver has closed the second and final tranche of its non-brokered private placement, issuing a total of 35,714,142 units at $0.07 each for gross proceeds of about $2.5 million, with each unit comprising one share and one warrant exercis...
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.