Dynacor Group Inc DNG

MaterialsMetals & MiningCanada

Last close 5.26 CAD on Nov 2, 2026, −8.4% year to date

Quant rating

Quant rating C Rank 65 of 154 in Materials

Growth C 86 of 154
Valuation C 62 of 154
Quality B 44 of 154
Revisions C 104 of 154
Momentum C 71 of 154

Wall Street consensus Strong Buy (1.50)Average target 8.50 CAD +61.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 221M
Enterprise value: 201M
52-week range: 4.24 – 7.08
3-year range: 3.25 – 7.08
Dividend yield: 3.11%
Beta (5 years): 0.71
Shares outstanding: 41.9M
Next earnings: Nov 11, 2026

About the company

Dynacor Group Inc. is a Canada-based industrial ore processing company dedicated to producing gold sourced from artisanal miners. The Company owns the rights to several mining properties which are at the exploration stage, including its flagship exploration gold, copper, and silver prospect, the Tumipampa property (Tumipampa). Tumipampa is located approximately 500 kilometers (km) from Lima, Peru, in the Circa district, Province of Abancay, Department of Apurimac. Tumipampa's concessions cover an area of approximately 4,000 hectares and are located geographically on the eastern slopes of the Andes Mountain Range, between 4,200 and 4,800 meters above sea level. Its Veta Dorada plant is a gold mineral processing plant in Peru. Its Anta property is in the district of San Pedro, 72 km west of Nazca, within the Western Andean Cordillera in the Province of Lucanas, Department of Ayacucho. It covers an area of 4,900 hectares and is a copper/silver exploration prospect.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	546	409	331	268	248	–
Revenue growth	33.4%	23.4%	23.8%	8.1%	91.5%	33.4%
EPS (basic, normalized)	0.69	0.64	0.53	0.41	–	–
EPS growth	7.9%	21.2%	30.5%	–	–	–
Gross margin	10.9%	12.6%	12.1%	12.4%	13.8%	12.3%
Net margin	5.4%	5.9%	6.0%	6.1%	6.0%	5.9%
ROE	18.2%	17.9%	17.7%	15.8%	17.5%	17.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	21.0
Current ratio	3.60x
Long-term debt (mil)	0.6
Net debt (mil)	−20.3
Total equity (mil)	200
Net debt / equity	−0.10x
Net debt / EBITDA	−0.44x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	546	+33.4%	0.4x	45.7	+0.9%	4.4x	0.69	+7.9%	7.6x
2026	823	+50.9%	0.2x	54.6	+19.5%	3.7x	0.69	−1.0%	7.7x
2027	953	+15.7%	0.2x	79.9	+46.3%	2.5x	1.10	+60.1%	4.8x
2028	1,081	+13.4%	0.2x	69.2	−13.4%	2.9x	1.00	−8.6%	5.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	823	−1.4%	+1.0%	+3.8%	0.69	0.0%	−18.5%	−13.4%
2027	953	−4.3%	−7.6%	−7.3%	1.10	−5.4%	−15.1%	−14.2%
2028	1,081	+3.4%	–	–	1.00	0.0%	–	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	FQ-1	Jun 2026
Sales reported (mil)	67.7	67.4	76.2	73.1	80.0	79.7	101	137	154	144
Sales mean (mil)	66.5	67.6	64.0	65.4	78.0	88.3	92.0	137	134	128
Surprise	+1.9%	−0.2%	+19.1%	+11.7%	+2.6%	−9.7%	+9.2%	0.0%	+15.4%	+12.7%
EPS reported	0.13	0.12	0.16	0.04	0.13	0.08	0.12	0.17	–	0.03
EPS mean	–	0.10	0.09	0.11	0.09	0.10	0.10	0.11	–	–
Surprise	–	+20.0%	+77.8%	−63.6%	+44.4%	−15.8%	+20.0%	+54.5%	–	–

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
DNG Dynacor Group Inc	221M	−0.44x	5.4%	1.12x	7.7x	4.8x	3.7x	2.5x
GMIN G Mining Ventures Corp	11.8B	−0.65x	49.6%	3.57x	26.7x	21.7x	17.7x	12.0x
OR OR Royalties Inc	8.6B	0.62x	74.3%	4.14x	27.1x	26.2x	17.7x	15.8x
ARTG Artemis Gold Inc.	8.5B	0.64x	38.2%	6.31x	12.2x	11.9x	9.0x	7.0x
TFPM Triple Flag Precious Metals Corp.	8.3B	0.64x	61.7%	2.61x	20.9x	20.9x	14.3x	12.8x
KNT K92 Mining Inc.	6.2B	−0.76x	45.4%	4.52x	11.8x	8.8x	6.5x	4.8x
Mean		0.01x	45.8%	3.71x	17.7x	15.7x	11.5x	9.2x
Median		0.09x	47.5%	3.86x	16.5x	16.4x	11.6x	9.5x

Technical analysis

1M+4.8%
3M−14.3%
1Y+19.1%
3Y+73.6%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Dynacor Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	546	409	331	268	248	129
Cost of revenue	486	357	291	235	213	112
Gross profit	59.4	51.5	40.0	33.1	34.2	17.3
Selling, general & administrative expenses	18.8	11.5	9.0	7.7	7.0	4.6
Research & development	–	–	–	–	–	–
Depreciation/amortization	0.5	0.5	0.4	0.4	0.4	0.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	0	0	0	0	0.3
Other operating expenses	3.4	1.9	1.3	0.4	0	0.2
Operating income	36.7	37.5	29.3	24.6	26.8	11.8
Net interest income (expense)	4.2	1.1	1.2	0.1	−0.6	−0.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1
Net income before taxes	40.7	38.5	30.4	24.5	26.1	11.4
Provision for taxes	11.5	14.2	10.4	8.3	11.2	5.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	29.2	24.3	20.0	16.3	14.9	5.5
Extraordinary items	–	–	–	–	–	–
Net income	29.2	24.3	20.0	16.3	14.9	5.5
EBIT, normalized	36.7	37.6	29.3	24.6	26.8	12.1
EBITDA, normalized	42.3	42.8	33.7	28.9	30.1	15.3
Basic EPS, normalized	0.69	0.64	0.53	0.41	–	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Dynacor Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	46.0	37.1	29.8	34.7	34.2	15.1
Receivables	51.5	34.1	17.2	16.9	10.4	10.4
Total inventory	53.5	42.2	42.3	22.3	18.7	17.1
Prepaid expenses	3.3	0.6	0.8	0.5	0.3	0.5
Other current assets	0	0	0	0	0	0
Total current assets	154	114	90.1	74.4	63.7	43.1
Property, plant & equipment	94.2	65.9	58.0	55.1	50.1	49.7
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	0.6	0.2	0	1.8	1.7	4.4
Total assets	249	180	148	131	115	97.1
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	34.5	19.3	14.8	11.2	10.9	6.7
Accrued expenses	6.7	6.3	5.1	3.6	3.6	1.8
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0	0.1	0.1	0.1	0.1	0.3
Other current liabilities	0.6	3.6	2.8	0.4	3.1	2.0
Total current liabilities	41.8	29.4	22.8	15.2	17.7	10.7
Long-term debt	0.7	1.5	0.8	0.9	0.3	0.6
Minority interest	–	–	–	–	–	–
Other liabilities	21.4	6.6	5.8	6.4	6.5	5.9
Total liabilities	63.9	37.5	29.4	22.5	24.4	17.3
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	57.8	31.1	29.0	30.4	27.2	26.7
Additional paid-in capital	5.1	5.4	4.9	4.4	4.4	4.4
Retained earnings (accumulated deficit)	122	106	84.8	74.0	59.4	48.7
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	185	143	119	109	91.0	79.9
Total liabilities & shareholders' equity	249	180	148	131	115	97.1

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Dynacor Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	29.2	24.3	20.0	16.3	14.9	5.5
Depreciation, depletion & amortization	5.5	5.2	4.4	4.3	3.3	3.2
Deferred taxes	−2.2	−0.1	−0.6	−0.7	0.8	1.6
Non-cash items	2.2	0.8	0.8	0.2	0	0.6
Changes in working capital	−18.4	−6.9	−11.9	−11.7	8.6	3.4
Cash from operations	16.4	23.2	12.7	8.4	27.6	14.3
Investing activities
Capital expenditures	0	−7.6	−8.7	−5.0	−4.4	−1.1
Other investing cash flows	−17.6	−8.5	0.2	0.2	0.3	0.1
Cash from investing	−17.7	−16.0	−8.5	−4.8	−4.1	−1.0
Financing activities
Financing cash flow items	–	–	0	−0.2	−0.2	0
Cash dividends paid	−6.5	−5.4	−4.5	−4.0	−3.2	−2.2
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	25.8	−5.5	−3.8	−1.5	−0.9	−4.6
Cash from financing	19.3	−10.9	−8.3	−5.7	−4.3	−6.8
Foreign exchange effects	0.7	−0.1	0	0	0	0
Net change in cash	18.8	−3.8	−4.1	−2.0	19.2	6.5
Free cash flow	16.4	15.6	4.0	3.5	23.3	13.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.