Highlights

  • USA’s Q3 2025 revenue increased 37% YoY to USD 30.6 million on higher silver output
  • Quarterly loss narrowed as improved revenue offset growth-related expenses
  • Cash and equivalents surged 441.9% YoY to USD 39.1 million in Q3, following financing inflows.

Americas Gold and Silver Corporation (TSX:USA), along with its subsidiaries, is involved in the exploration, development, and operation of mineral properties across North America, focusing on gold, silver, zinc, lead, and related by-products.

In the third quarter of 2025 (Q3 2025), USA’s revenue reached USD 30.6 million, up 37% from USD 22.3 million in Q3 2024, supported by higher silver output from Galena and EC120 along with improved realized prices.

Profit before income taxes recorded a loss of USD 15.0 million, a 6% YoY improvement compared to the USD 16.0 million loss a year earlier, as revenue helped offset higher growth-related costs.

Net cash used in investing activities rose to USD 27.8 million, increasing 104.5% YoY, due to higher capital deployment into Galena upgrades, equipment, and EC120 development. Cash and cash equivalents climbed to USD 39.1 million, a 441.9% YoY rise from USD 7.2 million.

Recent Business Update

Last month, the company announced an upsized financing and overallotment option. The increase in the bought‑deal private placement to USD 115 mn underscores decent institutional demand and broad investor conviction in the company’s long-term growth strategy. This level of uptake signals confidence in both operational momentum and future asset development. The underwriters’ option to purchase an additional USD 17.25mn of shares adds meaningful financial flexibility.

Company Outlook

USA’s outlook remains highly positive, with the company entering a period of accelerating production driven by the high-grade EC120 orebody and continued improvement at Galena. Antimony commercialization beginning in 2026 introduces a meaningful new revenue driver aligned with U.S. strategic mineral demand. With productivity upgrades nearly complete and exploratory success extending high-grade zones, Americas Gold and Silver are positioned for sequential quarterly growth in production, revenue, and operating leverage.

Top 10 Shareholders

The top ten shareholders account for roughly 44.21% of the overall ownership. Ontario, Ltd. holds the largest position at about 17.96%, followed by Merk Investments LLC with approximately 9.38%.

Stock Information

The stock has gained approximately 5.35% over the past week and around 61.12% in the last three months. It is currently trading above its 52-week average range, which spans from a low of CAD 1.25 to a high of CAD 7.18.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is Dec 03, 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

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Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.