Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (CAD) | Target 1 (CAD) | Target 2 (CAD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 29 Sep, 25 | APM | Buy | CAD 8.3 | CAD 8.75 | CAD 8.9 | Same day | Closed |
7.83%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Andean Precious Metals Corp. engages in the acquisition, exploration, development, and processing of mineral resource properties in the United States. The company primarily explores for silver and gold deposits. It holds 100% interest in San Bartolomé project in Bolivia; and the Soledad Mountain mine and heap leach located in Kern County, California. The company was incorporated in 2018 and is based in Toronto, Canada. Andean Precious Metals Corp. operates as a subsidiary of PMB Partners LP.
Higher Income from Operations: USD 24.53 mn in Q2 2025 vs USD 9.77 mn in Q2 2024
Higher Adjusted EBITDA: USD 28.8 mn in Q2 2025 vs USD 17.1 mn in Q2 2024
Lower Gold Production: 11,945 oz in Q2 2025 vs 15,309 oz in Q2 2024
Lower Cash & Cash Equivalents: USD 36.07 mn in Q2 2025 vs USD 47.04 mn in Q2 2024
Regulatory risks, Trade tariffs, Inflationary pressures, Lower cash flows, etc.
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 8.3 | 7.85 | 8.75 | 8.9 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Strengthened Balance Sheet and Liquidity: The company ended Q2 2025 with USD 87.3 mn in liquid assets (up from USD 72 mn YoY) and fully repaid its revolving credit facilities, leaving USD 25 mn available for future needs. Total liabilities fell to USD 139.4 mn (from USD 164.1 mn in Q4 2024), reflecting decent cash generation and deleveraging. This positions Andean with ample liquidity and financial flexibility.
Strategic Ore Sourcing Agreement: In June 2025, Andean signed a long-term deal with COMIBOL to purchase up to 7 mn tonnes of oxide ore, with first ore expected in H2 2026. This expands ore sourcing potential, improves utilization of existing processing capacity, and secures future production growth, creating multi-year visibility on feedstock supply.
Robust Cash Flow and Shareholder Value Creation: Adjusted EBITDA grew to USD 28.9 mn (up 68% YoY), while free cash flow rose to USD 12.3 mn. The company continues to generate decent operating cash flows, supporting exploration, debt reduction, and reinvestment. With production guidance reaffirmed (102.9–117.2 Au Eq. oz in 2025) and higher margin outlook, Andean is well positioned to deliver sustainable value to shareholders.
Considering the expected valuation upside, disciplined capital allocation, higher adjusted EBITDA growth, cost control improvements, deleveraging strengthens flexibility and key business risks, a ‘Speculative Buy’ recommendation has been given on the stock at the last closing price of CAD 8.30, as on September 26, 2025
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Silver
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| APM Andean Precious Metals Corp. |
0.04 0.40% | 9.98 | 17.13 | 3.13 | 3.52 | 4.97 | 3.12 | 10.64 |
| AG First Majestic Silver Corp |
0.46 2.04% | 23.03 | - | 44.84 | 10.45 | 2.38 | 6.84 | 18.70 |
| DSV Discovery Silver Corp. |
0.03 0.33% | 9.21 | - | 19.42 | 30.06 | 5.79 | 20.37 | 71.93 |
| EDR Endeavour Silver Corp. |
0.33 2.56% | 13.23 | - | 12.22 | 13.26 | 4.23 | 9.38 | 31.00 |
| AYA Aya Gold & Silver Inc |
-0.05 0.25% | 19.79 | - | 30.12 | 22.54 | 4.42 | 18.26 | 246.18 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on September 26, 2025. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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