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Argo Gold
(ARQ)
Select Model
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Rating:48Neutral
Price Target:
C$0.11
▲(9.00% Upside)
Action:Reiterated
Date:08/07/26
The score is held down primarily by weak and unstable financial performance (profit swing to a 2025 loss, margin compression, higher leverage, and inconsistent free cash flow). Technicals provide some support due to the current uptrend and positive MACD, but overbought RSI/Stoch reduce confidence. Valuation is also constrained by negative earnings and no stated dividend yield.
Positive Factors
Exploration portfolio monetization options
Argo Gold’s exploration model provides several potential routes to create value without requiring immediate mine production. Advancing properties can support future transactions, partnerships, royalties, or sales, while equity funding can finance additional exploration and preserve portfolio optionality.
Negative Factors
Revenue contraction
The sharp 2025 revenue decline highlights an unstable top line and makes future operating performance harder to predict. Sustained contraction would reduce resources available for exploration and other corporate activities, while increasing reliance on asset monetization or external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Exploration portfolio monetization options
Argo Gold’s exploration model provides several potential routes to create value without requiring immediate mine production. Advancing properties can support future transactions, partnerships, royalties, or sales, while equity funding can finance additional exploration and preserve portfolio optionality.
Read all positive factors
Argo Gold (ARQ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$7.93M
Dividend YieldN/A
Average Volume (3M)66.48K
Price to Earnings (P/E)―
Beta (1Y)0.23
Revenue Growth-32.20%
EPS Growth-311.67%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding73,077,774
10 Day Avg. Volume46,000
30 Day Avg. Volume66,479
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)9.99
Price to Sales (P/S)2.85
P/FCF Ratio-144.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)C$1.91M
Argo Gold Business Overview & Revenue Model
Company Description
Argo Gold Inc. is an early-stage company focused on the discovery and advancement of mineral resources in northwestern Ontario. The firm primarily explores for valuable deposits of gold, silver, cobalt, and zinc. Its most significant asset is the ...
How the Company Makes Money
Argo Gold generally does not operate producing mines; instead, as an exploration-stage company it typically aims to create value and generate potential future revenue through (1) advancing its mineral properties to increase their market value, (2)...
Argo Gold Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.52M | 2.24M | 952.69K | 0.00 | 0.00 |
| Gross Profit | 445.12K | 1.24M | 662.99K | -3.36K | -2.14K |
| EBITDA | -364.49K | 949.88K | -25.43K | -1.44M | -2.17M |
| Net Income | -920.95K | 437.08K | -280.00K | -1.45M | -2.18M |
Balance Sheet | |||||
| Total Assets | 2.28M | 3.30M | 2.78M | 1.09M | 2.14M |
| Cash, Cash Equivalents and Short-Term Investments | 130.02K | 289.92K | 74.89K | 85.37K | 1.15M |
| Total Debt | 1.11M | 1.11M | 1.11M | 0.00 | 0.00 |
| Total Liabilities | 1.85M | 1.83M | 1.83M | 478.43K | 79.16K |
| Stockholders Equity | 432.77K | 1.47M | 949.13K | 613.73K | 2.06M |
Cash Flow | |||||
| Free Cash Flow | -29.98K | 238.17K | -1.67M | -815.06K | -1.98M |
| Operating Cash Flow | 116.07K | 952.43K | 122.01K | -807.70K | -1.98M |
| Investing Cash Flow | -156.62K | -714.26K | -1.73M | -6.92K | 673.68K |
| Financing Cash Flow | -119.35K | -23.14K | 1.68M | 0.00 | 322.00K |
Argo Gold Technical Analysis
Positive
0.10
Price Trends
0.10
Positive
0.10
Positive
0.09
Positive
Market Momentum
<0.01
Positive
53.72
Neutral
30.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ARQ, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.10, and above the 200-day MA of 0.09, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.72 is Neutral, neither overbought nor oversold. The STOCH value of 30.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ARQ.
Argo Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$8.97M | -6.49 | -15.70% | ― | ― | 82.89% | |
48 Neutral | C$7.93M | -8.73 | -76.02% | ― | -32.20% | -311.67% | |
45 Neutral | C$3.81M | -7.95 | -56.16% | ― | ― | -126.09% | |
45 Neutral | C$6.13M | 2.21 | 314.44% | ― | ― | ― | |
44 Neutral | C$4.97M | -0.94 | -143.34% | ― | ― | -765.25% | |
41 Neutral | C$2.43M | -9.38 | -45.17% | ― | ― | 38.46% |
* Basic Materials Sector Average
TSE:ARQ
Argo Gold
0.11
0.04
57.14%
TSE:HVG
Harvest Gold
0.05
-0.06
-55.00%
TSE:KGC
Kestrel Gold
0.04
-0.03
-46.15%
TSE:VGD
Visible Gold Mines
0.17
0.05
43.48%
TSE:GCN
Goldcliff Resource
0.03
-0.02
-33.33%
TSE:EDGM
Edgemont Gold Corp.
0.18
0.00
0.00%
Argo Gold Corporate Events
Business Operations and StrategyFinancial Disclosures
Argo Gold Posts Positive Cash Flow From June Oil Output
Positive
Aug 13, 2026
Argo Gold reported that its June 2026 oil production totaled 2,159 barrels, averaging 72 barrels per day across its interests in the Lindbergh and Lloyd fields. With average realized oil prices of CAD$84 per barrel, the company generated oil reven...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.