Silver X Mining (TSXV:AGX): Valuation Check After Q3 2025 Losses Narrow but Production Softens

Silver X Mining (TSXV:AGX) just released its third quarter 2025 numbers. They paint a mixed picture, with softer production and sales, but a sharply reduced net loss that changes the risk profile.

See our latest analysis for Silver X Mining.

The market seems to be looking past softer volumes and focusing on improving losses, with a roughly 80% 3 month share price return and a 1 year total shareholder return above 220%. This suggests momentum is building as investors reassess the risk reward.

If this turnaround story has your attention, it could be a good time to explore fast growing stocks with high insider ownership for other fast moving companies where insiders also have real skin in the game.

So with losses shrinking, the share price surging, and analysts still seeing upside from here, is Silver X Mining quietly undervalued, or are investors already paying up for every ounce of its future growth?

Price-to-Sales of 6.6x: Is it justified?

On a price-to-sales basis, Silver X Mining trades at 6.6x, which looks punchy given its CA$0.72 share price and still-lossmaking status.

The price-to-sales ratio compares the company’s market value to its annual revenue, a common yardstick for early stage or unprofitable miners where earnings remain negative.

Against its direct peers, that 6.6x multiple actually screens as relatively modest, sitting well below the peer average of 20.5x. This hints that the market is applying a discount to Silver X Mining’s growth potential versus similar names. However, compared to the broader Canadian Metals and Mining industry average of 6.3x and an estimated fair price-to-sales ratio of just 1x, the shares still look richly valued. This suggests any stumble in the path to profitability could see that multiple compress toward the lower fair ratio level.

Explore the SWS fair ratio for Silver X Mining

Result: Price-to-Sales of 6.6x (OVERVALUED)

However, sustained losses and any operational setback at Nueva Recuperada could quickly cool sentiment and trigger a painful reset in that lofty valuation.

Find out about the key risks to this Silver X Mining narrative.

Build Your Own Silver X Mining Narrative

If you see the story differently or want to dig into the numbers yourself, you can build a custom view of Silver X Mining in just minutes: Do it your way.

A great starting point for your Silver X Mining research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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