Aya Gold & Silver Past Earnings Performance
Past criteria checks 3/6
Aya Gold & Silver has been growing earnings at an average annual rate of 55.6%, while the Metals and Mining industry saw earnings growing at 19.4% annually. Revenues have been growing at an average rate of 45% per year. Aya Gold & Silver's return on equity is 18.7%, and it has net margins of 30.5%.
Key information
55.58%
Earnings growth rate
52.76%
EPS growth rate
| Metals and Mining Industry Growth | 27.39% |
| Revenue growth rate | 45.01% |
| Return on equity | 18.75% |
| Net Margin | 30.45% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Analysis Article • May 22
Aya Gold & Silver's (TSE:AYA) Promising Earnings May Rest On Soft Foundations
Last week's profit announcement from Aya Gold & Silver Inc. ( TSE:AYA ) was underwhelming for investors, despite...Analysis Article • Nov 20
Aya Gold & Silver's (TSE:AYA) Conservative Accounting Might Explain Soft Earnings
Shareholders appeared unconcerned with Aya Gold & Silver Inc.'s ( TSE:AYA ) lackluster earnings report last week. Our...Recent updates
Analysis Article • May 22
Aya Gold & Silver's (TSE:AYA) Promising Earnings May Rest On Soft Foundations
Last week's profit announcement from Aya Gold & Silver Inc. ( TSE:AYA ) was underwhelming for investors, despite...
New Narrative • May 19
AYA: Maximizing Extraction Yields through the Primary Silver Renaissance and the Impending Magmatic Epithermal Geological Inflection Point
Aya Gold & Silver Inc. is navigating a historic structural expansion in 2026, successfully transforming from a junior explorer into the premier high-grade silver producer in North Africa.
Narrative Update • May 02
AYA: Boumadine Study Progress And High Grade Drilling Will Drive Repricing
Analysts have raised their CA$ price target range on Aya Gold & Silver from CA$5 to CA$7.50, citing updates to revenue growth assumptions, profit margin expectations, discount rate inputs and future P/E estimates. Analyst Commentary Recent Street research points to a more constructive stance on Aya Gold & Silver, with bullish analysts revisiting their models and updating key valuation inputs such as revenue assumptions, profit margins, discount rates and future P/E estimates.
Narrative Update • Apr 17
AYA: Boumadine And Zgounder Progress Will Support Re Rating Of Undervalued Shares
The analyst price target for Aya Gold & Silver has been raised to CA$33.86 from CA$33.64, with the change supported by several firms updating their models around future P/E assumptions and revised views on revenue growth and profit margins. Analyst Commentary Recent research updates show a cluster of higher price targets for Aya Gold & Silver, with several firms adjusting their models within a short time frame.Narrative Update • Mar 18
AYA: Higher Silver Output Will Support Re Rating Of Undervalued Shares
Aya Gold & Silver’s updated analyst price target has moved higher by CA$0.72, with analysts pointing to adjustments in fair value, discount rate assumptions, revenue growth expectations, profit margin estimates, and future P/E inputs, reflected across recent target increases from CA$4 to CA$10 at several major Canadian banks. Analyst Commentary Recent Street research shows a series of higher price targets for Aya Gold & Silver, with individual moves of C$4, C$5, C$7.50, C$8, and C$10 across several large Canadian institutions.
Narrative Update • Mar 04
AYA: Higher Price Expectations Will Test Profit Delivery And Project Execution
Aya Gold & Silver's updated fair value estimate has moved from CA$18.56 to CA$29.00. This change reflects higher Street price targets from several firms as analysts factor in revised assumptions around discount rates, profitability, and future P/E expectations.Narrative Update • Feb 18
AYA: Higher Silver Output And Exploration Success Will Support Undervalued Shares
Aya Gold & Silver's analyst fair value estimate has moved from CA$23.65 to CA$32.93, supported by a series of recent price target increases from firms such as Stifel, CIBC, BMO Capital, Scotiabank, and Raymond James that cite updated assumptions around growth, profitability, and valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts are lifting their price targets in sizeable C$4 to C$10 increments, which signals greater conviction in the company’s ability to support a higher fair value over time.Narrative Update • Feb 04
AYA: Record Production And Boumadine Progress Will Drive Bullish Repricing
Narrative Update The analyst price target for Aya Gold & Silver has been modestly adjusted to reflect updated views on fair value, discount rates, revenue growth, profit margins and future P/E assumptions, supported by recent Street research in which several firms raised their targets by C$4, C$8 and C$10. Analyst Commentary Recent Street research on Aya Gold & Silver reflects a cluster of price target increases, with adjustments of C$4, C$8 and C$10 from different firms.Analysis Article • Jan 23
There's Reason For Concern Over Aya Gold & Silver Inc.'s (TSE:AYA) Massive 27% Price Jump
Despite an already strong run, Aya Gold & Silver Inc. ( TSE:AYA ) shares have been powering on, with a gain of 27% in...Narrative Update • Jan 20
AYA: Record Output And High Grade Discoveries Will Support Bullish Repricing
Analysts have lifted their fair value estimate for Aya Gold & Silver from C$22.09 to C$38.99, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E, which align with recent price target increases from Raymond James and BMO Capital. Analyst Commentary Recent Street research has highlighted a more optimistic stance on Aya Gold & Silver, with bullish analysts revisiting their models and adjusting fair value assumptions for the stock.Analysis Article • Jan 07
Aya Gold & Silver (TSE:AYA) Is Doing The Right Things To Multiply Its Share Price
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Narrative Update • Jan 06
AYA: Higher Metal Price Assumptions Will Test Cash Flow Resilience
Aya Gold & Silver's analyst fair value estimate has been revised higher to C$18.56 from C$14.15, as analysts adjust their targets to reflect updated price forecasts for gold and silver, along with revised expectations for growth, profitability and future P/E multiples. Analyst Commentary Recent Street research has pointed to higher fair value ranges for Aya Gold & Silver, with updated targets reflecting new gold and silver price assumptions as well as refreshed expectations for growth and profitability.Narrative Update • Dec 15
AYA: Rising Precious Metal Prices Will Drive Undervalued Shares Despite Short Seller Pressure
Aya Gold & Silver's analyst price target has been raised from about C$23.10 to roughly C$23.65 per share, as analysts factor in higher long term gold and silver price assumptions, along with a richer sector valuation that supports a higher future earnings multiple despite slightly tempered growth and margin forecasts. Analyst Commentary Recent Street research shows a clear tilt toward more constructive views on Aya Gold & Silver, with several bullish analysts marking up their price targets to reflect stronger precious metal price assumptions and improving sector multiples.Narrative Update • Dec 01
AYA: Surging Precious Metal Prices Will Drive Share Momentum Through 2026
Aya Gold & Silver's analyst price target has increased, rising from C$23 to C$25. Analysts cite updated forecasts for higher gold and silver prices as key drivers for the revision.Analysis Article • Nov 29
After Leaping 29% Aya Gold & Silver Inc. (TSE:AYA) Shares Are Not Flying Under The Radar
Aya Gold & Silver Inc. ( TSE:AYA ) shares have continued their recent momentum with a 29% gain in the last month alone...Analysis Article • Nov 20
Aya Gold & Silver's (TSE:AYA) Conservative Accounting Might Explain Soft Earnings
Shareholders appeared unconcerned with Aya Gold & Silver Inc.'s ( TSE:AYA ) lackluster earnings report last week. Our...Narrative Update • Nov 17
AYA: Stronger Precious Metal Prices Will Drive Outperformance Into 2026
Aya Gold & Silver's analyst price target was recently raised, with the consensus increasing from C$22 to C$33. Analysts cite stronger forecasts for gold and silver prices, as well as improved profit margins and valuation multiples.Analysis Article • Nov 14
Analyst Forecasts For Aya Gold & Silver Inc. (TSE:AYA) Are Surging Higher
Aya Gold & Silver Inc. ( TSE:AYA ) shareholders will have a reason to smile today, with the analysts making substantial...Narrative Update • Nov 01
AYA: Higher Metal Prices Will Drive Zgounder And Boumadine Potential
Aya Gold & Silver's analyst price target increased significantly from C$22 to C$33, as analysts cite higher precious metal price forecasts and recent strong performance in the sector. Analyst Commentary Recent analyst updates have highlighted both positive drivers and ongoing areas of caution for Aya Gold & Silver as the company benefits from a favorable metals market outlook and recent stock performance.Narrative Update • Oct 17
Zgounder And Boumadine Will Unlock Future Silver Potential
The analyst price target for Aya Gold & Silver has been raised from C$23 to C$25 per share. Analysts cite increased gold and silver price forecasts and strong sector performance as primary drivers for the upward revision.Narrative Update • Oct 03
Zgounder And Boumadine Will Unlock Future Silver Potential
Analysts have raised their price target for Aya Gold & Silver from $19.53 to $20.80. This change reflects updated expectations around discount rate, revenue growth, profit margins, and future earnings projections.Analysis Article • Sep 16
Why Investors Shouldn't Be Surprised By Aya Gold & Silver Inc.'s (TSE:AYA) 34% Share Price Surge
Aya Gold & Silver Inc. ( TSE:AYA ) shares have had a really impressive month, gaining 34% after a shaky period...
Narrative Update • Sep 13
If silver reaches $100 per ounce
Latest info (Q2 2025): Shares outstanding: ~141.9M Cash: ~$114M Debt: ~C$100M H1 2025 production: ~2.1M oz silver (annualized ~4.2M oz, ramping toward 7M oz target) Cash costs: ~$20–22/oz (AISC likely a bit higher; I’ll model at $20 and $25/oz). Scenario 1: Silver = $100/oz At AISC = $25/oz Margin per ounce = $100 − $25 = $75 Annual FCF = 7,000,000 × 75 = $525M Valuation at 10× FCF = $5.25B → $36.99/share Valuation at 15× FCF = $7.88B → $55.48/share Valuation at 20× FCF = $10.50B → $73.96/share At AISC = $20/oz Margin per ounce = $100 − $20 = $80 Annual FCF = 7,000,000 × 80 = $560M Valuation at 10× FCF = $5.60B → $39.47/share Valuation at 15× FCF = $8.40B → $59.20/share Valuation at 20× FCF = $11.20B → $78.93/share Scenario 2: Silver = $150/oz At AISC = $25/oz Margin per ounce = $150 − $25 = $125 Annual FCF = 7,000,000 × 125 = $875M Valuation at 10× FCF = $8.75B → $61.68/share Valuation at 15× FCF = $13.13B → $92.52/share Valuation at 20× FCF = $17.50B → $123.36/share At AISC = $20/oz Margin per ounce = $150 − $20 = $130 Annual FCF = 7,000,000 × 130 = $910M Valuation at 10× FCF = $9.10B → $64.10/share Valuation at 15× FCF = $13.65B → $96.15/share Valuation at 20× FCF = $18.20B → $128.20/share So, depending on AISC, Aya Gold & Silver at $100/oz silver could trade between $37–$79/share , and at $150/oz silver between $62–$128/share , under 10–20× FCF multiples.Analysis Article • Apr 05
Aya Gold & Silver Inc. (TSE:AYA) Shares Slammed 27% But Getting In Cheap Might Be Difficult Regardless
Aya Gold & Silver Inc. ( TSE:AYA ) shareholders won't be pleased to see that the share price has had a very rough...
New Narrative • Feb 17
Expanded Zgounder Mine Expected To Begin Commercial Production By Late Q4 2024
Ramp-up to commercial production and efficient operations at Zgounder mine expected to significantly boost revenues and improve net margins.Analysis Article • Jan 20
A Look At The Intrinsic Value Of Aya Gold & Silver Inc. (TSE:AYA)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Aya Gold & Silver fair value estimate is CA$10.80 Aya Gold...Analysis Article • Dec 15
Here's Why Aya Gold & Silver (TSE:AYA) Has Caught The Eye Of Investors
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Nov 18
The Price Is Right For Aya Gold & Silver Inc. (TSE:AYA) Even After Diving 33%
Aya Gold & Silver Inc. ( TSE:AYA ) shares have had a horrible month, losing 33% after a relatively good period...Analysis Article • Nov 06
Does Aya Gold & Silver (TSE:AYA) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Oct 04
Revenues Tell The Story For Aya Gold & Silver Inc. (TSE:AYA) As Its Stock Soars 29%
The Aya Gold & Silver Inc. ( TSE:AYA ) share price has done very well over the last month, posting an excellent gain of...Analysis Article • Sep 06
With EPS Growth And More, Aya Gold & Silver (TSE:AYA) Makes An Interesting Case
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Aya Gold & Silver makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 286 | 87 | 26 | 0 |
| 31 Dec 25 | 202 | 46 | 26 | 0 |
| 30 Sep 25 | 136 | 2 | 25 | 0 |
| 30 Jun 25 | 93 | -10 | 24 | 0 |
| 31 Mar 25 | 68 | -12 | 20 | 0 |
| 31 Dec 24 | 39 | -22 | 16 | 0 |
| 30 Sep 24 | 41 | 8 | 15 | 0 |
| 30 Jun 24 | 42 | 9 | 12 | 0 |
| 31 Mar 24 | 37 | 2 | 12 | 0 |
| 31 Dec 23 | 43 | 6 | 11 | 0 |
| 30 Sep 23 | 45 | 3 | 9 | 0 |
| 30 Jun 23 | 41 | 3 | 9 | 0 |
| 31 Mar 23 | 40 | 4 | 8 | 0 |
| 31 Dec 22 | 38 | 0 | 8 | 0 |
| 30 Sep 22 | 33 | -2 | 10 | 0 |
| 30 Jun 22 | 34 | -2 | 10 | 0 |
| 31 Mar 22 | 35 | -3 | 10 | 0 |
| 31 Dec 21 | 34 | 0 | 10 | 0 |
| 30 Sep 21 | 36 | 2 | 8 | 0 |
| 30 Jun 21 | 30 | -1 | 9 | 0 |
| 31 Mar 21 | 22 | -2 | 7 | 0 |
| 31 Dec 20 | 14 | -2 | 6 | 0 |
| 30 Sep 20 | 6 | -5 | 5 | 0 |
| 30 Jun 20 | 6 | -3 | 2 | 0 |
| 31 Mar 20 | 6 | -1 | 1 | 0 |
| 31 Dec 19 | 6 | -1 | 1 | 0 |
| 30 Sep 19 | 4 | 2 | 1 | 0 |
| 30 Jun 19 | 3 | 1 | 1 | 0 |
| 31 Mar 19 | 1 | -2 | 2 | 0 |
| 31 Dec 18 | 0 | -3 | 2 | 0 |
| 30 Sep 18 | 0 | -3 | 2 | 0 |
| 30 Jun 18 | 0 | -3 | 2 | 0 |
| 31 Mar 18 | 0 | -1 | 1 | 0 |
| 31 Dec 17 | 0 | -2 | 1 | 0 |
| 30 Sep 17 | 0 | -3 | 1 | 0 |
| 30 Jun 17 | 0 | -3 | 1 | 0 |
| 31 Mar 17 | 0 | -4 | 1 | 0 |
| 31 Dec 16 | 0 | -3 | 1 | 0 |
| 30 Sep 16 | 0 | -2 | 1 | 0 |
| 30 Jun 16 | 0 | -6 | 1 | 0 |
| 31 Mar 16 | 0 | -6 | 1 | 0 |
| 31 Dec 15 | 0 | -6 | 1 | 0 |
| 30 Sep 15 | 0 | -14 | 1 | 0 |
Quality Earnings: AYA has high quality earnings.
Growing Profit Margin: AYA became profitable in the past.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: AYA has become profitable over the past 5 years, growing earnings by 55.6% per year.
Accelerating Growth: AYA has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: AYA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (139.2%).
Return on Equity
High ROE: AYA's Return on Equity (18.7%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/31 22:56 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Aya Gold & Silver Inc. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Bereket Berhe | Beacon Securities Limited |
| Kevin O'Halloran | BMO Capital Markets Equity Research |
| null null | Cantor Fitzgerald Canada Corporation |