TSX · Gold · CAD

Mineros S.A. (MSA.TO) Stock Analysis

Mineros S.A. (MSA.TO) is a Gold stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

MSA.TO

CA$9.07

−CA$0.05 (−0.55%)

Oct 21, 2026 · Market close

Compare

Price History

Hover for the daily close. The dotted line marks the period open.

Compare MSA.TO with… →

MSA.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$9.17
Previous Close: CA$9.12
Day's Range: 8.95–9.23
52-Week Range: 4.38–10.52
Volume: 82.73K
Beta: 1.23

Valuation

Market Cap: CA$2.68B
P/E Ratio: 9.75
Forward P/E: 9.70
P/S ratio: 2.64
EPS (ttm): 0.93

Financials (FY)

Revenue (FY): CA$799.67M+48.48%
Net Income (FY): CA$144.98M+67.51%
Profit margin: 19.33%
Shares Outstanding: 295.78M
1-Year Return: +95.67%

Dividend and dates

Dividend: CA$0.14+1.55%
Ex-Dividend Date: January 8, 2027
Earnings Date: November 11, 2026
Avg Volume: 279.59K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, MSA.TO closed at CA$9.07, +95.67% over 1 year.

Mineros S.A. (MSA.TO) has a market capitalization of CA$2.68B.

In fiscal 2025, MSA.TO reported revenue of CA$799.67M.

MSA.TO Stock Return by Calendar Year

Mineros S.A. (MSA.TO) return since Nov 2021: what CA$10,000 became

1 year: CA$10,000 CA$19,567; +95.67%
3 years: CA$10,000 CA$191,149; +1,811.49%
Since Nov 2021: CA$10,000 CA$123,603; +1,136.03%

If you had invested CA$10,000 in Mineros S.A. (MSA.TO) at the close on November 19, 2021, the earliest close on record here, it would have been worth CA$123,603 at the close on October 21, 2026: +1,136.03% in total, +66.71% a year, with dividends reinvested, over a partial period shorter than 10 years. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−0.89%−31.79%+7.18%+159.68%+300.30%+64.10%

2021*20222023202420252026*

Year	Return
2026 (partial year)	+64.10%
2025	+300.30%
2024	+159.68%
2023	+7.18%
2022	−31.79%
2021 (partial year)	−0.89%

As of October 21, 2026.

MSA.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$799.67M	CA$144.98M	18.1%
2024	CA$538.57M	CA$86.55M	16.1%
2023	CA$447.29M	CA$17.21M	3.8%
2022	CA$414.94M	CA$4.49M	1.1%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$799.67M	CA$326.25M	CA$242.89M	CA$144.98M	18.1%
2024	CA$538.57M	CA$184.00M	CA$150.95M	CA$86.55M	16.1%
2023	CA$447.29M	CA$145.40M	CA$117.27M	CA$17.21M	3.8%
2022	CA$414.94M	CA$132.02M	CA$100.83M	CA$4.49M	1.1%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

MSA.TO Dividend History

’22’23’24’25’26*

CA$0.14+11.1% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.10	3	—
2025	CA$0.14	4	+11.1%
2024	CA$0.13	4	+35.5%
2023	CA$0.09	4	−2.1%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.10	3	—
2025	CA$0.14	4	+11.1%
2024	CA$0.13	4	+35.5%
2023	CA$0.09	4	−2.1%
2022	CA$0.10	4	—

Most recent payment: CA$0.03 per share, ex-dividend July 14, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

MSA.TO Valuation vs Gold Median

Median of 93 stocks

Metric	MSA.TO	Gold median	vs median
P/E	9.75	12.32	21% below
P/S ratio	2.64	4.56	42% below
Profit margin	19.33%	31.40%	12.1 pts below

Medians across 93 Gold stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

The market values Mineros S.A. (MSA.TO) at CA$2.68B. It is classified in the Gold industry, within the Basic Materials sector.

MSA.TO last closed at CA$9.07 on October 21, 2026. That is −CA$0.05 (−0.55%) against the previous close. The 52-week range on file runs from CA$4.38 to CA$10.52. The latest close sits 107.08% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to CA$799.67M. Against the prior fiscal year total of CA$538.57M, that is a change of +48.48%. Net income for the same year was CA$144.98M. That is +67.51% against the prior fiscal year. Profit margin runs at 19.33%. That is 12.1 percentage points below the Gold median of 31.4%. Trailing earnings per share are 0.93.

Across the 4 fiscal years on file, revenue moves from CA$414.94M in 2022 to CA$799.67M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

MSA.TO trades at a trailing price-to-earnings ratio of 9.75. That is 20.83% below the Gold median of 12.32. The forward P/E on file is 9.7. The price-to-sales ratio is 2.64. On price-to-sales that is 42.06% below the Gold median of 4.56. The medians here are taken across 93 Gold companies that report the metric.

The trailing one-year total return is +95.67%. Measured over 3 years, that is +167.38% a year compounded. The reported beta is 1.23. Daily returns over the trailing 4 years annualize to a volatility of 52.59%.

Growth & Income

Shareholders receive a dividend, yielding 1.55% on the latest price. That is 0.5 percentage points above the Gold median yield of 1.05%. At the indicated rate that is CA$0.14 a share a year. The ex-dividend date on file is January 8, 2027. Dividends are recorded for 5 calendar years; 2026 shows 3 payments totalling CA$0.10 a share. The year before, 2025, totalled CA$0.14 a share.

2026 is still running; the total return is +64.10% year to date. Across the complete calendar years on file, 2025 returned +300.30% and 2022 returned −31.79%. Of the 4 complete calendar years on file, 3 finished higher.

Peer Comparison

Mineros S.A. (MSA.TO) operates in the Gold industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Mineros S.A.	MSA.TO	CA$2.68B	9.8
Newmont Corporation	NEM	$123.47B	14.8
Agnico Eagle Mines Limited	AEM	$94.87B	16.0
Barrick Mining Corporation	ABX.TO	CA$94.18B	10.7

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Gold industry average P/E ratio is 12.3x. Mineros S.A. trades at a P/E of 9.8.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

Related Gold Stocks

NEM

Newmont Corporation

$123.47B

AEM

Agnico Eagle Mines Limited

$94.87B

ABX.TO

Barrick Mining Corporation

CA$94.18B

WPM

Wheaton Precious Metals Corp.

$60.03B

FNV

Franco-Nevada Corporation

$46.96B

AngloGold Ashanti plc

$46.27B

View all Gold stocks →

Popular Basic Materials Stocks

LIN

Linde plc

$230.75B

BHP

BHP Group Limited

$211.50B

SCCO

Southern Copper Corporation

$167.24B

RIO

Rio Tinto Group

$141.37B

FCX

Freeport-McMoRan Inc.

$98.94B

View all Basic Materials stocks →

About Mineros S.A.

Mineros S.A. engages in the exploration, development, and production of gold in Central and South America. It explores for gold and silver deposits. The company holds an interest in the Nechí Alluvial Property covering an area of 473 square kilometers located in the Lower Cauca Region of Antioquia in northwestern Colombia; the Hemco Property that covers an area of 2,270 hectares located in Bonanza, Nicaragua; the La Pepa Project located in the Cavancha, Chile; and option to acquire a 100% interest in a gold exploration project in the Department of Tolima, Colombia. It also engages in hydroelectric power generation activities. The company was formerly known as Mineros de Antioquia S.A. and changed its name to Mineros S.A. in May 2004. Mineros S.A. was incorporated in 1974 and is headquartered in Medellín, Colombia. Mineros S.A. operates as a subsidiary of Sun Valley Investments AG.

Visit website →