Andean Precious Metals (APM:TSX)

  • APM has a strong balance sheet, enabling the Company to pursue its ongoing growth initiatives while maintaining flexibility.

  • The Company has a track record of successful acquisitions, including Golden Queen and San Bartolome.

  • APM has demonstrated robust cash flows with strong gold and silver prices driving profitability. APM’s stock offers strong leverage to silver, which contributes >50% of revenue.

  • The Company is led by CEO Alberto Morales, bringing 30+ years in M&A and finance and owning 48% of shares, while Eric Sprott holds 13%, aligning management with shareholders

Investment Summary

Company Description

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

Research

Andean Precious Metals: Research Note
August 12, 2026

Andean Precious Metals: Research Note
July 15, 2026

Andean Precious Metals: Research Note
May 13, 2026

Andean Precious Metals: Research Note
April 8, 2026

Andean Precious Metals: Research Note
March 25, 2026

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
February 27, 2026

Aerial view of industrial industrial complex with large red storage tanks, pipelines, and buildings in a desert landscape.

Andean Precious Metals: 
Management Interview
December 4, 2025

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
November 12, 2025

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
November 4, 2025

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
October 16, 2025

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
August 13, 2025

Aerial view of an industrial mining facility with large red storage tanks, conveyor belts, and various buildings and equipment, set in a desert-like landscape.

Andean Precious Metals: 
Research Note
July 18, 2025

Aerial view of an industrial facility with large red storage tanks, conveyor belts, and various buildings and equipment in a dry, rugged landscape.

Andean Precious Metals: 
Research Note
May 7, 2025

Aerial view of an industrial processing plant with large red storage tanks, pipelines, and various buildings on a dirt landscape.

Andean Precious Metals: 
Research Note
April 15, 2025

Aerial view of industrial industrial complex with large red storage tanks, pipelines, and buildings in a desert landscape.

Andean Precious Metals: 
Management Interview
March 20, 2025

Aerial view of an industrial facility with large red storage tanks, pipelines, and multiple buildings in a desert landscape.

Andean Precious Metals: 
Research Note
March 19, 2025

An aerial view of an industrial facility with large red storage tanks, pipelines, and multiple buildings in a desert landscape.

Andean Precious Metals: 
Initiation Report
March 3, 2025