Andean Precious Metals (TSE:APM) Posts Quarterly Earnings Results

Andean Precious Metals (TSE:APM) released its quarterly earnings results on Wednesday. The company reported C$0.37 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$179.00 million for the quarter.

Here are the key takeaways from Andean Precious Metals’ conference call:

• Record 2025 financials: Revenue of $359M, Adjusted EBITDA $133M, net income $118M, free cash flow $59M for the year and a record $167M in liquid assets, with legacy debt repaid and a new $40M revolving credit facility.
• Production finished slightly below guidance at ~100,000 gold-equivalent ounces in 2025 (Q4: 27,777 GEO); 2026 consolidated guidance is 100,000–114,000 GEO with production weighted ~45% H1 / 55% H2.
• The updated Golden Queen technical report was postponed by a few months to include 2025 drilling (47 core holes) after assay lab delays, delaying a near-term catalyst though management expects the added data to strengthen the report.
• Strong cost and margin outlook — San Bartolomé reported a $16.11 cash gross operating margin per silver ounce (42.75% gross margin) in 2025, and Golden Queen’s 2026 cost guidance ($1,500–$1,800 cash costs; $1,850–$2,150 AISC per gold ounce) reflects expected optimization and improved performance.
• Capital and corporate catalysts: 2026 sustaining capex $17–$24M and growth capex $21–$30M, a planned New York Stock Exchange listing, and financial flexibility to fund growth or pursue asset expansion.

Andean Precious Metals Stock Down 7.5%

Shares of TSE:APM opened at C$6.01 on Friday. The firm has a market cap of C$892.97 million, a P/E ratio of 11.78 and a beta of 2.30. Andean Precious Metals has a 12-month low of C$1.22 and a 12-month high of C$12.55. The business has a fifty day simple moving average of C$9.05 and a 200 day simple moving average of C$8.45.

Wall Street Analyst Weigh In

Separately, Desjardins upgraded shares of Andean Precious Metals to a “moderate buy” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Andean Precious Metals has an average rating of “Buy”.

About Andean Precious Metals

Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolome processing facility in Potosí, Bolivia and the Golden Queen mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean’s leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.