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Andean Precious Metals Corp (ANPMF)

Generated: May 2, 2026
✅ Pass

Business Overview

Andean Precious Metals Corp is a precious metals producer focused on silver and gold operations in the Americas. It owns and operates the San Bartolome silver processing facility in Bolivia and the Soledad Mountain open-pit gold mine in California, USA, generating revenue through extraction, processing, refining, and sale of dore bars from its mining rights and third-party materials.[1][6]

Non-Recurring Revenue

No evidence of material one-time revenue events appears in recent financial disclosures for fiscal 2024 or 2025. Q3 2025 results showed record revenue of $90.4M, adjusted EBITDA of $36.8M, net income of $43.7M, and EPS of $1.54, attributed to strong production rather than one-off items like asset sales, settlements, or stimulus.[2] Year-end 2025 production updates and guidance for 2026 emphasize ongoing operations without mention of non-recurring boosts.[3] Earlier periods, such as Q2 2023, highlight solid results from production and cost improvements, not windfalls.[8] Absent disclosure of statistical distortions, recurring operations underpin reported figures.[1][5]

Short-Seller & Fraud Risk

No significant short-seller reports, fraud accusations, accounting irregularities, regulatory investigations, or securities class-action lawsuits target Andean Precious Metals Corp in the past 12–24 months. Search results lack references to dedicated short-selling firm campaigns or ongoing probes by regulators or law firms.[1][2][4] Short interest data is unavailable across sources, with no indications of unusually high levels above 15% of float or active negative campaigns. The company does not qualify as a battleground stock, presenting a low profile for such risks.[7]

Financial Health

Andean Precious Metals maintains a robust balance sheet with strong liquidity and minimal debt pressure. As of December 31, 2023, it held $72.8M in liquid assets and negative net debt of $17.4M, indicating a net cash position.[5] Recent strengthening includes a new $40M credit facility from National Bank of Canada.[4] Key ratios as of the latest available data show a quick ratio of 1.48, current ratio of 2.68, and interest coverage of 18.65, signaling ample coverage for obligations.[1] Retained earnings stood at $0 as of March 31, 2025, but high returns on assets (21.62%), equity (40.91%), and invested capital (30.46%) reflect operational strength without near-term maturities, covenant risks, or distress signals noted.[1][2]

Cyclicality Risk

Andean Precious Metals operates in the highly cyclical mining industry, tied to volatile precious metals prices for silver and gold. Revenue and production are sensitive to commodity cycles, with 2025 output at 99.16 Koz AuEq based on realized prices.[3][6] Q3 2025 records—$90.4M revenue and $36.8M EBITDA—align with elevated metal prices and operational ramps at San Bartolome and Soledad Mountain, but historical averages (e.g., ~50 Koz AuEq annually at Soledad from 2019–2022) suggest current highs may not persist if prices revert.[2][6] Margins appear strong amid recent peaks, raising mean-reversion potential, though top-tier jurisdiction focus and guidance mitigate some volatility.[1][3]

No material concerns across non-recurring revenue, short-seller risks, financial health, or cyclicality beyond standard mining exposure.

Sources

  1. https://www.morningstar.com/stocks/pinx/anpmf/quote
  2. https://stockinvest.us/earnings-report/ANPMF
  3. https://www.otcmarkets.com/stock/ANPMF/news/Andean-Precious-Metals-Reports-Fourth-Quarter-and-Year-End-2025-Production-Results-and-Provides-2026-Production-and-Cost?id=512100
  4. https://andeanpm.com/2025/
  5. https://andeanpm.com/investors/
  6. https://andeanpm.com
  7. https://www.nasdaq.com/market-activity/stocks/anpmf
  8. https://andeanpm.com/category/financial/

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