Mineros S.A.

MNSAF

Gold · Basic Materials

Price

$5.65

-0.02 (-0.41%)

Market Cap

$1.67B

Exchange

Other OTC

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Sep 1, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Mixed

Stability

Exceptional

Valuation

Strong

Dividends

Weak

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Share count rising — dilution

+12.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 264.9M (2021) → 298.7M (2025)

Winston Score History

The full picture

Mineros S.A. is a gold mining company based in Colombia. It mines and sells gold, which is its primary product. The company operates mines in Colombia, Nicaragua, and Argentina, making it one of the leading gold producers in Latin America.

Mineros makes money by extracting gold and selling it at market prices. It has been mining in Colombia for over 50 years, giving it deep operational experience in the region. The company is mid-sized, with a market cap around $1.7 billion, and benefits from relatively low production costs that support strong margins. Its key growth driver is expanding production across its multi-country portfolio, though gold price volatility and political risks in its operating countries remain important factors for the business.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+53.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+6.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

91.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$67M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Mineros S.A. grew revenue 54% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

35.6%

Modest — 35.6% gross margin

Profit after running costs

Operating Margin

32.4%

Excellent — 32.4% operating margin

Return on the money invested

ROCE

60.8%

Exceptional — 60.8% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+63.4%

Fast-growing sales (+63.4% YoY)

Profit growth

EPS YoY

+46.3%

Earnings growing fast (+46.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

52%

Weak — only 52% of profit becomes cash

Spare cash per sale

FCF Margin

3.0%

Thin free cash flow (3.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.09

Conservative — low debt load (0.09)

Covers its interest

Interest Cover

44.76x

Comfortably covers interest (44.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

8.5x

Attractive valuation — P/E 8.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+0.1

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

1.77%

Small dividend — 1.77% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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