Mineros S.A.

Mineros S.A.

MSA.TO
Mineros S.A.CA flagToronto Stock Exchange
6.62
CAD
-0.27
- -
1.96BMarket Cap
Mineros S.A.
MSA.TO
(Toronto Stock Exchange)

Recent

price

6.62

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.49
0.71
0.78
0.89
0.75
0.71
0.87
1
0.92
1.55
1.85
1.87
1.38
1.49
1.8
2.68
2.12
Revenue per Share
0.18
0.23
0.28
0.08
0.06
0.07
0.11
0.15
0.19
0.14
0.24
0.16
0.01
0.06
0.29
0.49
0.44
Basic EPS, GAAP
0.19
0.29
0.27
-0.01
0.02
0.02
0.19
0.13
-0.09
-0.22
-0.28
-0.36
-0.22
-0.17
-0.2
-0.43
-0.24
Free Cash Flow per Basic Share
0.08
0.08
0.08
0.09
0.05
0.04
0.04
0.05
0.05
0.05
0.05
0.07
0.08
0.07
0.09
0.1
0.1
Dividend per Share
0.18
0.23
0.29
0.09
0.06
0.16
0.16
0.16
0.2
0.19
0.28
0.2
0.04
0.09
0.33
0.52
0.31
Book Value per Share
0.76
0.88
1.16
0.59
0.49
0.49
0.55
0.67
0.89
0.96
1.05
1.33
1.11
1.11
1.31
1.68
1.43
Tangible Book Value per Share
262
262
262
262
262
262
262
262
262
262
262
265
300
300
300
299
299
Basic Weighted Avg Shares
129
186
203
233
195
186
229
262
242
405
485
496
415
447
539
800
634
Sales/Revenue/Turnover
38.41
50.74
52.94
31.81
17.2
12.57
22.36
23.24
12.97
15.47
23.36
14.9
23.36
25.05
27.07
29.41
32.78
Operating Margin (%)
17
12
17
20
36
19
25
3
11
1
1
1
1
1
1
1
- -
Depreciation Expense
48
61
75
22
16
20
29
39
50
37
63
43
4
17
87
145
133
Net Income, GAAP
25.72
33.82
32.93
38.03
48.62
23.69
45.01
36.02
- -
28.39
39.96
43.75
40.29
27.34
38.86
37.37
33.71
Effective Tax Rate (%)
37.29
32.63
36.68
9.44
7.96
10.52
12.84
14.79
20.85
9.03
13.06
8.72
1.08
3.85
16.07
18.13
21.01
Profit Margin (%)
48
71
105
24
-10
-4
4
17
35
43
71
64
55
60
86
113
110
Working Capital
- -
- -
- -
101
76
60
48
42
48
57
47
38
23
19
12
5
9
LT Debt
199
230
303
284
238
187
205
232
252
277
315
368
347
346
409
514
461
Total Equity
19.96
27.23
25.43
12.48
4.46
5.76
10.19
13.73
- -
12.47
16.54
9.44
13.33
19.66
20.28
27.1
26.72
Return on Invested Capital (%)
91.88
111.54
109.86
16.06
13.33
17.47
29.46
44.49
- -
33.39
48.59
37.59
9.93
39.54
100.25
101.68
114.69
Return on Capital (%)
91.95
111.66
109.95
45.35
81.32
67.12
69.26
92.24
106.61
71.73
102.57
68.77
13.9
87.51
139.58
114.24
140.04
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
14
17
17
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
300
300
300
Market Capitalization
1,367,174
1,993,721
2,226,078

Working Capital

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
192
217
261
Cash, Cash Equivalents & STI
99
81
110
Accounts Receivable, Net
10
44
30
Inventories
24
23
22
Total Current Liabilities
106
133
151
Payables & Accruals
- -
- -
- -
ST Debt
14
17
17
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11%
10.95%
25.78%
Free Cash Flow
104.66%
22.16%
114.38%
Net Income, GAAP
79.05%
126.52%
67.51%
Sales/Revenue/Turnover
17.99%
12.51%
48.48%
Total Cash Common Dividend
12.54%
18.93%
7.62%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
114
133
141
150
539
2025
161
182
261
- -
800
2026
292
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.06
0.1
- -
0.29
2025
0.13
0.15
- -
- -
0.49
2026
0.29
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.02
0.02
- -
0.09
2025
0.03
0.02
- -
- -
0.1
2026
0.02
- -
- -
- -
- -
Business
Mineros S.A. Mineros S.A. engages in the exploration, development, and production of gold and silver deposits in Central and South America; it operates alluvial and underground mining operations, hydroelectric power generation, and artisanal mining formalization programs. The company produces gold primarily through its Nechí Alluvial Property, a 473-square-kilometer site in the Lower Cauca Region of Antioquia, Colombia, utilizing large floating dredges and gravity separation on Tertiary gravel plain deposits, with progressive land reclamation into small holdings, crops, pisciculture, wetlands, or reforestation; in Nicaragua, Hemco Mineros Nicaragua S.A. manages the underground Panama and Pioneer mines at the 2,270-hectare Hemco Property in Bonanza, processing mineralized material at the Hemco, Vesmisa, and La Curva plants via cut-and-fill and mechanized methods. Mineros S.A. maintains exploration projects including La Pepa in Chile, Porvenir and Luna Roja in Nicaragua, and regional greenfield targets in Rosita and Bonanza districts; it serves markets in Colombia, Nicaragua, and Chile from its headquarters in Medellín, Colombia, where the company was founded in 1974, formerly as Mineros de Antioquia S.A. before renaming in 2004, and operates as a subsidiary of Sun Valley Investments AG since March 2025. Recent developments include the completion of a US$40 million acquisition of the remaining 80% interest in the La Pepa gold exploration project from Pan American Silver Corp. in September 2025, securing 100% ownership to support mid-tier producer growth alongside the Porvenir project; the ramp-up of the new Aurora mobile mining and recovery plant at Nechí Alluvial in Q3 2025, completed at a US$6.5 million cost after 2024 construction to boost production; ongoing 2025 drilling programs totaling thousands of meters at near-mine expansions in Río Cauca, Bonanza greenfields, and Luna Roja resource updates expected in H1 2026; and the appointment of Augusto López Valencia as Chairman in April 2025 to advance strategic vision under new shareholder influence.

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