Aya Gold & Silver (TSE:AYA) Posts Earnings Results

Aya Gold & Silver (TSE:AYA) announced its earnings results on Tuesday. The company reported C$0.16 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$100.86 million for the quarter. Aya Gold & Silver had a net margin of 1.81% and a return on equity of 0.76%.

Here are the key takeaways from Aya Gold & Silver’s conference call:

• Record 2025 financials — revenue of $202M, net income of $46M (EPS ≈ $0.32), operating cash flow of $72M and $136M unrestricted cash at year-end.
• Operational ramp-up at Zgounder — the mill averaged ~3,800 tpd (~40% above nameplate) with Q4 recoveries at ~91% and plant availability at 99%, enabling stockpile growth and steady throughput increases.
• New Zgounder mine plan moves to bulk mining, targeting ~6M oz/year for 11 years with average cash cost ~$16.26/oz and AISC ≈ $19/oz, while 2026 guidance remains conservative (5.2–5.8M oz including Boumadine tailings).
• Boumadine PEA upside — low initial CapEx (~$446M), strong economics in the PEA (pre-tax NPV ~$2.2B at $2,800 gold/$30 silver, IRR 69%), and material upside from much higher sulfur prices and improving concentrate payabilities (now >75%).
• Cost and liquidity pressures — rising fuel and some consumable prices (fuel increases, cyanide/zinc exposure) could push cash costs higher despite grid-based power and inventories, plus $16M restricted cash on the EBRD facility and $15M drawn on a credit line affect near-term flexibility.

Aya Gold & Silver Stock Performance

Shares of AYA stock opened at C$21.22 on Wednesday. The company has a market cap of C$3.01 billion, a P/E ratio of -707.33 and a beta of 2.37. The firm has a fifty day moving average price of C$23.32 and a 200 day moving average price of C$19.58. The company has a current ratio of 1.96, a quick ratio of 3.28 and a debt-to-equity ratio of 21.32. Aya Gold & Silver has a 12 month low of C$8.52 and a 12 month high of C$30.15.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AYA shares. National Bank Financial cut their price objective on Aya Gold & Silver from C$29.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus boosted their target price on Aya Gold & Silver from C$31.50 to C$39.00 in a research note on Tuesday, February 10th. BMO Capital Markets cut their price target on Aya Gold & Silver from C$33.00 to C$29.00 in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce increased their price target on Aya Gold & Silver from C$30.00 to C$35.00 in a research report on Wednesday, February 4th. Finally, Desjardins lifted their price objective on Aya Gold & Silver from C$30.00 to C$32.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$27.25.

Aya Gold & Silver Company Profile

Aya Gold & Silver Inc is engaged in acquisition, exploration, evaluation, and development of mining properties. The company and its subsidiaries are at the development stage for its Zgounder project and exploration and evaluation stage for projects in Morocco. Its other project includes Boumadine; Amizmiz; Azegour and others.