Sotkamo Silver AB SOSI

NGM | Producer | Silver
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Updated: 14 Sep 2026 Base analysis: 31 Jul 2026

The news check keeps the assessment current.

General analysis — not personal advice.

The founder owns or has owned shares in this company within the past 6 months. See About.

HOLD Partly clear

Existing position can be maintained at current valuation while new positions require confirmation on ore grade.

The Q2 report shows record revenue and improved cash position but supports the ongoing HOLD signal.

Market sentiment Positive ↑
Trend: Improving

The market reacts positively to the strong Q2 report and confirmed profitability. Focus remains on continued operational stability and silver price development.

Risk assessment Medium
Dilution: Low Strong cash and positive cash flow reduce funding needs
Jurisdiction: Low Operations in Finland with stable EU regulation
Execution: Medium New contractor has stabilized operations but history of variability

HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.

Latest change
  • 31 Jul 2026 — Results confirm continued profitability and cash growth under high silver prices.

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About the company

Sotkamo Silver AB is a mining company operating the Silver Mine in Sotkamo, Finland. The company produces silver, gold, lead and zinc concentrates. Operations are in a profitable growth phase driven by high metal prices and improved production.

Sector: Silver
Type: Producer
Next report (Q3)
23 Oct 2026
Catalysts
◐
Oct 2026
Environmental permit tailings dam High
◐
Dec 2026
H2 production update Medium
Bull case

Record revenue, strong cash position and long-term delivery agreement with Boliden confirm the company can capitalise on high silver prices.

Bear case

The company remains sensitive to falling silver prices and potential variations in ore grade or production.

Sensitivity analysis
Factor If it weakens If it strengthens
Silver price Silver price −15 % → cash flow level supporting positive results disappears and financing needs may return. Silver price +15 % → higher margins and faster debt reduction enable dividend potential.
Ore grade Ore grade below 70 g/t → lower revenue per tonne and weaker EBITDA margins. Ore grade reaches 80–90 g/t → improved profitability and stronger cash flow.
Tailings dam permit Delayed permit → limited ability to expand production long term. Approved permit → extended mine life and higher resource utilization.
Why this signal

The Q2 report shows record revenue and improved cash position but supports the ongoing HOLD signal.

Recent news
  • No new press releases or company-specific events have been published since the Q2 report. The share has moved sideways to slightly negative around 4.9–5.2 SEK with continued high trading volume. Euroclear data shows a sharp increase in new shareholders.

Key figures

Revenue
Q2 2026
SEK 198M
Revenue TTM
TTM
SEK 629M
EBITDA
Q2 2026
SEK 86.0M
Net income
Year 2025
SEK -53.0M
Cash
Q2 2026
SEK 141M
Total debt
senaste balans
SEK 207M
Shares outstanding
Q2 2026
338M
EPS
Year 2025
SEK -0.16
Exchange
NGM
Type
Producer
Sector
Silver
Sotkamo Silver AB SOSI
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.