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Precious metals producer running a gold-silver mine in California and a silver processing plant in Bolivia.
Precious metals producer running a gold-silver mine in California and a silver processing plant in Bolivia.
Sells gold and silver at market prices from two separate operations, an open-pit mine in California and a silver plant in Bolivia, so income follows output times metal prices and each country's rules and costs.
In one line: A small multi-country silver/gold producer..
Moat: none (installed base). Mid-tier multi-asset producer without a structural cost or resource edge over larger peers.
Headquarters: Toronto, Canada · Employees: 548
Size Andean Precious Metals (APM.TO) is a Canada Materials company (Precious Metals) with a market value of $555M, the 325th largest of 420 Canada companies the cockpit tracks. Shares closed at C$5.22 on 6 Nov 2026.
Performance Over six months the shares fell 20.2%, against +3.4% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 62.8% over the last twelve months (peer median +91.0%); the operating margin is 32.1% (peer median 21.9%).
Valuation It trades at 5.0× forward earnings against a peer median of 6.5× (3rd cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +53%, so the hurdle is -60 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 31.3 points above its cost of capital (12.5% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$628M | C$503M | C$348M | C$169M | C$141M |
| Revenue growth | — | +44% | +106% | +20% | — |
| Gross profit | C$236M | C$185M | C$85.3M | C$10.2M | C$6.50M |
| EBITDA | C$231M | C$183M | C$85.0M | C$7.09M | -C$2.09M |
| Net income | C$166M | C$165M | C$26.3M | C$56.6M | -C$13.1M |
| Free cash flow | C$45.4M | C$82.5M | C$47.3M | C$4.44M | -C$6.44M |
| Capital expenditure | C$34.5M | C$45.7M | C$30.3M | C$8.12M | C$2.87M |
| Total debt | C$42.5M | C$61.8M | C$101M | C$62.6M | C$0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Andean Precious Metals APM.TO | $555M | -20% | +63% | 32% | 5.0× | -7.2% |
| Coeur Mining CDE | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% |
| Hecla Mining HL | $9.90B | -21% | +30% | 48% | 18.1× | 8.0% |
| First Majestic Silver AG.TO | $7.52B | -27% | +96% | 44% | 18.1× | 9.2% |
| Lundin Gold LUG.TO | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APM.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.6% | -7.9% | 10th highest of 21 |
| 6-month return | -20.2% | +3.4% | 8th lowest of 21 |
| Distance from 52-week high | -58.4% | -29.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +62.8% | +91.0% | 4th lowest of 8 |
| Operating margin | 32.1% | 21.9% | 3rd highest of 10 |
| Forward P/E | 5.0× | 6.5× | 3rd cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -7.2% | -7.1% | 3rd least demanding of 5 |
| Growth delivered (Del g) | +52.9% | +3.2% | highest of 4 |
| Hurdle (Req g minus delivered) | -60.1 pp | -11.7 pp | 2nd least demanding of 4 |
| ROIC minus cost of capital | +31.3 pp | -18.8 pp | 3rd highest of 18 |
| EV / EBITDA | 3.0× | 4.2× | 3rd cheapest of 6 |
| Net debt / EBITDA | -0.4× | -0.4× | 4th least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Andean Precious Metals APM.TO | Canada | $555M | -20% | +63% | 32% | 5.0× | -7.2% | +52.9% |
| Banyan Gold BYN.V | Canada | $554M | +18% | n/a | n/a | n/a | n/a | n/a |
| Gold Reserve GRZ.V | Canada | $560M | -19% | n/a | n/a | n/a | n/a | n/a |
| Forrestania Resources FRS.AX | Australia | $547M | -33% | n/a | -4,833% | 8.9× | n/a | n/a |
| Goldsky Resources GSKR.V | Canada | $543M | -28% | n/a | n/a | n/a | n/a | n/a |
| Brightstar Resources BTR.AX | Australia | $542M | +68% | +91% | -116% | n/a | n/a | n/a |
| IperionX IPX | United States | $540M | -66% | n/a | n/a | n/a | n/a | n/a |
| Turaco Gold TCG.AX | Australia | $540M | +29% | n/a | n/a | n/a | n/a | n/a |
| WIA Gold WIA.AX | Australia | $533M | -22% | n/a | n/a | n/a | n/a | n/a |
| Rox Resources RXL.AX | Australia | $532M | +13% | n/a | n/a | n/a | n/a | n/a |
| Anglo Asian Mining AAZ.L | United Kingdom | $590M | +30% | +220% | 48% | 6.5× | -8.5% | +3.2% |
| Contango Silver & Gold CTGO | United States | $520M | -43% | n/a | n/a | 5.6× | n/a | n/a |
| Thesis Gold & Silver TAU.V | Canada | $516M | -31% | n/a | n/a | n/a | n/a | n/a |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | n/a | n/a | n/a | n/a |
| Goldgroup Mining GORO.V | Canada | $500M | -21% | +215% | 3% | 5.7× | n/a | n/a |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 32% | 13.3× | n/a | n/a |
| Ausgold AUC.AX | Australia | $495M | +42% | n/a | n/a | n/a | n/a | n/a |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -935% | 14.7× | n/a | n/a |
| Aurelia Metals AMI.AX | Australia | $477M | +16% | +40% | 27% | 4.8× | -5.8% | +2.9% |
| Heliostar Metals HSTR.TO | Canada | $475M | +10% | n/a | 22% | 8.3× | 15.3% | n/a |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 44% | 3.7× | -13.8% | +51.1% |