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Americas Gold & Silver Corp (USAS) stock

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NYSE: USAS NYSE Diversified Metals & Mining Next results ~November 13, 2026

C Fundamentals grade

Americas Gold & Silver Corp is a US-listed company in the diversified metals & mining industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.1

Valuation models combined (2)

Base case. Range ~$2.9–$3.5. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Americas Gold & Silver Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds90 adding, 67 cuttingOf 20 active managers that changed their stake, 7 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Americas Gold & Silver files

Where Americas Gold & Silver stands after its latest Filing

Revenue for the twelve months was $118m, up 17.7% on a year earlier, faster than the 5.3% growth a quarter earlier. Free-cash-flow margin rose to -62.1% from -141.2% a year earlier. The diluted share count is up 152.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our valuation models combined value is $3.27 a share, against a share price of $2.87.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 13, 2026 (estimated)

Americas Gold & Silver Corp's trailing-twelve-month revenue grew 17.7% year on year, with a free-cash-flow margin of -62.1%. Where it lags: change in share count of 152.3% ranks 16 of 16 diversified metals & mining companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 233.9% while net income fell 94.0%: a 140pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 17.7% over the last 12 months, against a median of 14.6% for diversified metals & mining companies we cover.
  • Growth speeding up. The growth rate is 12.4 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Burning cash. Free cash flow was -62.1% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 152.3% in a year.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 15.0% over 90 days.

Latest results

Earnings per share
-$0.00 against an average estimate of $0.03: missed by 109.1%
Next report
November 13, 2026; average EPS estimate $0.03

Americas Gold & Silver's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.3%
  • 1 week-4.3%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$118M
Net margin
-74.1%
EPS (TTM, diluted)
$-0.33

Growth

Revenue growth
+17.7%
Change in growth rate
+12.4 pts
Share count change
+152.3%

Cash

Free cash flow (TTM)
-$73.2M
FCF margin
-62.1%
Stock pay % of revenue
10.2%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for USAS from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Americas Gold & Silver Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Americas Gold & Silver Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.33 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: no revenue, margin or share count to start from
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.9 ~$2.8–$7.2 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.5 ~$2.8–$16 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.1 ~$2.9–$3.5 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Americas Gold & Silver Corp with Diversified Metals & Mining in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 13, 2026, before the open. Analysts expect revenue of $89m and EPS of $0.03 (range $0.00 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.10 +179% $331m +102%
Next $0.30 +192% $566m +71%

Next year's EPS estimate has moved −15.0% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −48.5% on 90 days ago. In the last 30 days, 0 analysts raised Americas Gold & Silver Corp's forecast and 1 cut it.

Consensus EPS forecast Americas Gold & Silver Corp, last 90 days
$0.00 $0.10 $0.20 $0.30 $0.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.20 Current fiscal year, 60 days ago: $0.12 Current fiscal year, 30 days ago: $0.11 Current fiscal year, 7 days ago: $0.11 Current fiscal year, Now: $0.10 $0.10 Next fiscal year, 90 days ago: $0.36 Next fiscal year, 60 days ago: $0.30 Next fiscal year, 30 days ago: $0.29 Next fiscal year, 7 days ago: $0.31 Next fiscal year, Now: $0.30 $0.30

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.20$0.36
60 days ago $0.12$0.30
30 days ago $0.11$0.29
7 days ago $0.11$0.31
Now $0.10$0.30

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.03 −$0.00 −109.1%
Mar 2026 $0.11 $0.06 −47.7%
Dec 2025 $0.04 −$0.05 −236.4%
Sept 2025 −$0.02 −$0.02 +21.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

10 analysts, Nov 2026
Buy10100%
Hold00%
Sell00%

Monthly trend

  1. Nov 20264610
  2. Oct 2026268
  3. Sep 2026268

Counts of recommendations published by analysts covering Americas Gold & Silver Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.7%
of tradable shares
Days to cover
6.5
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
47%
of shares
Held by insiders
17.9%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Americas Gold & Silver Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Americas Gold & Silver Corp
$0 $50M $100M $150M FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY16 Q4: $58.9M Revenue (TTM), FY17 Q4: $54.3M Revenue (TTM), FY18 Q4: $68.4M Revenue (TTM), FY19 Q4: $58.4M Revenue (TTM), FY20 Q4: $27.9M Revenue (TTM), FY21 Q4: $45.1M Revenue (TTM), FY22 Q4: $85M Revenue (TTM), FY23 Q4: $95.2M Revenue (TTM), FY24 Q4: $100.2M Revenue (TTM), FY25 Q4: $117.9M $117.9M

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY16 Q4 $58.9M
FY17 Q4 $54.3M
FY18 Q4 $68.4M
FY19 Q4 $58.4M
FY20 Q4 $27.9M
FY21 Q4 $45.1M
FY22 Q4 $85M
FY23 Q4 $95.2M
FY24 Q4 $100.2M
FY25 Q4 $117.9M
Revenue growth, TTM YoY Americas Gold & Silver Corp
-100% -50% 0% 50% 100% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY17 Q4: -7.8% Revenue growth, TTM YoY, FY18 Q4: 25.9% Revenue growth, TTM YoY, FY19 Q4: -14.5% Revenue growth, TTM YoY, FY20 Q4: -52.3% Revenue growth, TTM YoY, FY21 Q4: 61.6% Revenue growth, TTM YoY, FY22 Q4: 88.7% Revenue growth, TTM YoY, FY23 Q4: 11.9% Revenue growth, TTM YoY, FY24 Q4: 5.3% Revenue growth, TTM YoY, FY25 Q4: 17.7% 17.7%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY17 Q4 -7.8%
FY18 Q4 25.9%
FY19 Q4 -14.5%
FY20 Q4 -52.3%
FY21 Q4 61.6%
FY22 Q4 88.7%
FY23 Q4 11.9%
FY24 Q4 5.3%
FY25 Q4 17.7%
FCF margin (TTM) Americas Gold & Silver Corp
-150% -100% -50% 0% 50% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY16 Q4: 1.2% FCF margin (TTM), FY17 Q4: -10.3% FCF margin (TTM), FY18 Q4: -9.2% FCF margin (TTM), FY19 Q4: 4.4% FCF margin (TTM), FY20 Q4: -109.4% FCF margin (TTM), FY21 Q4: -141.2% FCF margin (TTM), FY22 Q4: -24.4% FCF margin (TTM), FY23 Q4: 19.9% FCF margin (TTM), FY24 Q4: -21.9% FCF margin (TTM), FY25 Q4: -62.1% -62.1%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY16 Q4 1.2%
FY17 Q4 -10.3%
FY18 Q4 -9.2%
FY19 Q4 4.4%
FY20 Q4 -109.4%
FY21 Q4 -141.2%
FY22 Q4 -24.4%
FY23 Q4 19.9%
FY24 Q4 -21.9%
FY25 Q4 -62.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 40-F, 40-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 59 54 68 58 28 45 85 95 100 118
Gross profit 13 14 16 2 −3 −40 13 176 17 33
Net income — — −10 −33 −25 −158 −43 −35 −45 −87
Diluted EPS — — — — — −$2.77 −$0.53 — −$0.43 −$0.33
Growth (year on year)
Revenue — −7.8% +25.9% −14.5% −52.3% +61.6% +88.7% +11.9% +5.3% +17.7%
Margins
Gross margin 21.6% 26.2% 23.8% 2.9% −12.0% −88.2% 15.2% — 17.4% 28.0%
Net margin — — −14.4% −55.9% −90.2% −350.0% −50.7% −36.7% −45.0% −74.1%
Free-cash-flow margin 1.2% −10.3% −9.2% 4.4% −109.4% −141.2% −24.4% 19.9% −21.9% −62.1%
Cash flow
Cash from operations 5 2 9 14 −19 −51 −1 −1 −3 −4
Capital spending 5 7 15 12 12 13 20 −20 19 69
Free cash flow 1 −6 −6 3 −30 −64 −21 19 −22 −73
Stock-based pay 1 2 2 4 4 4 3 2 1 12
Free cash flow after stock pay −1 −8 −8 −1 −35 −68 −24 17 −23 −85
Balance sheet
Cash 24 9 3 20 5 3 2 2 20 130
Total debt 8 15 14 — 8 1 0 2 2 0
Net debt (negative = net cash) −16 6 11 −20 4 −1 −2 0 −18 −130
Diluted shares 14m 16m 17m 29m 42m 57m 74m 85m 106m 267m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · December 31, 2025
What it owns · $413m
Short-term assets $154mLonger-term assets $259m
What it owes, and who funded it · $413m
Short-term liabilities $86mLonger-term liabilities $105mShareholders' equity $222m
  • Short-term assets cover short-term liabilities $154m of assets due within a year against $86m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $154m short-term assets against $105m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Americas Gold & Silver Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+152.3%
year over year
Days sales outstanding
27 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in diversified metals & mining
Last 12 months unless stated USAS LGO UUUU MP UAMY LEU Median
Revenue, last 12 months $118m $110m $106m $305m $36m $474m $118m
Revenue growth, last 12 months 17.7% −12.0% 62.5% 26.1% 41.6% 8.5% 14.6%
Revenue growth, 3-year average — — 52.9% −6.8% 63.4% 13.4% 13.4%
Revenue growth, latest quarter — — 496.1% 89.0% −24.7% 14.0% 7.2%
Gross margin 28.0% 52.2% 40.9% — 17.4% 23.7% 24.6%
Operating margin — — −91.0% −41.5% −64.0% 1.6% −5.3%
Operating margin, 3-year average — — −98.6% −62.5% −45.8% 11.0% −23.9%
Net margin −74.1% −62.3% −77.3% −19.9% −44.6% 10.2% −36.1%
Cash from operations / revenue −3.3% −9.3% −59.1% −27.5% −77.0% −11.6% −9.3%
Free-cash-flow margin −62.1% −34.3% −78.0% −165.2% −195.6% −34.6% −48.3%
Free-cash-flow margin, 3-year average −71.2% — −105.2% −128.0% −80.4% −3.1% −37.2%
Stock pay / revenue 10.2% 2.1% 13.5% 13.6% 38.4% 0.2% 11.9%
Change in share count 152.3% 5.8% 22.3% 8.3% 15.2% 29.7% 8.3%

Median of all 17 companies we cover in diversified metals & mining. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 diversified metals & mining companies
Measure Company Peer median Rank
Revenue growth Growth 17.7% 14.6% 8 of 17
Change in growth rate Growth +12.4pp +10.2pp 7 of 16
Gross margin Profitability 28.0% 24.6% 6 of 14
Net margin Profitability -74.1% -36.1% 12 of 17
Free-cash-flow margin Cash generation -62.1% -34.6% 9 of 16
Stock pay as % of revenue Cash generation 10.2% 13.5% 6 of 13
Change in share count Balance sheet 152.3% 8.3% 16 of 16
Days sales outstanding Balance sheet 27 days 37 days 4 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$532M
Institutions reporting
154
Shares held vs prior quarter
▲ 4.7%
Positions opened / closed
31 / 32

Top buyers and sellers, Q2 2026: 90 institutions bought and 67 sold ; the biggest buyer was Price T Rowe Associates Inc (+8.5M shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−4.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Merk Investments LLC $91.5M 19.4M 17.2% 0.0%
Price T Rowe Associates Inc $40.3M 8.5M 7.6% New
Mirae Asset Global Etfs Holdings Ltd. $40.2M 8.5M 7.6% ▼ 11.1%
Van Eck Associates Corp $36.4M 7.7M 6.8% ▼ 1.7%
Vanguard Capital Management LLC $30M 6.3M 5.6% ▲ 3.7%
Connor, Clark & Lunn Investment Management Ltd. $29.2M 6.2M 5.5% ▲ 13.7%
Alps Advisors Inc $28.3M 6.0M 5.3% ▼ 13.0%
Two Sigma Investments, LP $20.6M 4.4M 3.9% ▼ 4.6%
Newgen Asset Management Ltd $16.5M 3.5M 3.1% ▼ 21.3%
Franklin Resources Inc $15.1M 3.2M 2.8% ▲ 1830.9%
U S Global Investors Inc $12.4M 2.6M 2.3% ▲ 45.8%
Manufacturers Life Insurance Company, The $10.1M 2.2M 1.9% ▲ 24.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Americas Gold & Silver Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Americas Gold & Silver Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Americas Gold & Silver Corp in brief

What does Americas Gold & Silver Corp do?
Americas Gold & Silver Corp is a US-listed company in the diversified metals & mining industry. Its financial year ends in December.
What is Americas Gold & Silver Corp's stock ticker?
Americas Gold & Silver Corp trades under the ticker USAS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Americas Gold & Silver Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Americas Gold & Silver Corp reported revenue of $118M, 17.7% higher than a year earlier, according to its SEC filings.
What is Americas Gold & Silver Corp's free cash flow?
Americas Gold & Silver Corp's free-cash-flow margin is -62.1% of revenue over the trailing twelve months, ranking 9 of the 16 diversified metals & mining companies we cover.
Who are Americas Gold & Silver Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Merk Investments LLC, Price T Rowe Associates Inc and Mirae Asset Global Etfs Holdings Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Who are Americas Gold & Silver Corp's competitors?
In our Diversified Metals & Mining peer group, the companies closest to Americas Gold & Silver Corp are Largo Inc., Energy Fuels Inc, MP Materials Corp. / DE, United States Antimony Corp and Centrus Energy Corp. The side-by-side comparison below sets their revenue, margins and growth against Americas Gold & Silver Corp's.
When is Americas Gold & Silver Corp's next earnings date?
Around November 13, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Americas Gold & Silver Corp announces its own schedule.