NOTE: This is a Premium-exclusive stock report, originally for our Premium Access members, but we’re giving this to you free! To view other FREE stock reports, just click here. To get full access to all Premium-exclusive reports, simply upgrade to Premium Access today for as low as P399.00 a month!
Summary of Broker’s Recommendation
| Stock Code | APX |
| Company Name | Apex Mining Co. Inc. |
| Broker | AP Securities |
| Opinion Issued on | 17 July 2025 |
| Recommendation | Buy |
| 1-Year Target Price | PHP 7.25 |
We have high expectations for APXâs earnings for the 2nd quarter (2Q) of 2025. We believe that these expectations are not yet fully priced in and we reiterate our BUY rating on APX with a Target Price of P7.25/share.
Analysis and Opinion
The precious metals
Gold has been riding on that safe-haven high fueled by geopolitical tensions and fears of a global economic slowdown. The precious metal has risen by almost 30% since the start of the year and peaked at $3,499.94/oz before entering its current consolidation phase. Goldâs less lustrous sibling, silver, has quietly outpaced the growth of gold this year with a price surge of more than 30% to $38/oz from $29/oz at the start of 2025.
Investors are starting to take a notice of silver as well, as it typically has a high correlation to gold prices and give similar returns. Chirag Thakkar, chief executive of Indiaâs leading silver importer Amrapali Group Gujarat, believes that the appetite for silver is driven by both investment and industrial demand for sectors such as solar energy and electric vehicles, and this demand is outpacing production.
APX mines both metals
The mining company that produces both metals is APX, which has already seen its fair share of price appreciation from the gold hype in the recent months. While we do note that annual production for gold and silver is seemingly on the decline starting in 2024, silver production is showing signs of recovery in line with 1st quarter (1Q) trends in the past 3 years. Overall, APXâs silver production has risen by 27.47% in the past three years while gold production grew at a slower pace of 7.43% over the same period.
APX, our most precious
According to the companyâs 1Q 2025 earnings report, APX realized an average selling price of $2,953/oz for gold (+37.4% YoY) and $32/oz silver (33.3% YoY). Prices have risen further in 2Q 2025 with gold spot prices averaging $3,288/oz and silver spot averaging $33/oz, albeit silver surged to $36/oz in the last month of 2Q 2025.
NOTE: This is a Premium-exclusive stock report, originally for our Premium Access members, but we’re giving this to you free! To view other FREE stock reports, just click here. To get full access to all Premium-exclusive reports, simply upgrade to Premium Access today for as low as P399.00 a month!
Check how many brokers recommend this stock
This report is prepared by PinoyInvestorâs partner broker below. Find out more about our partner brokers and sign up to avail their complete trading brokerage services.
Commentary: US slaps PHL with 20% tariff rate, now what?