Artemis Gold (ARTG) AI Stock Analysis

• Market Cap: $5.95B
• Dividend Yield: N/A
• Average Volume (3M): 337.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.39
• Revenue Growth: N/A
• EPS Growth: -154.04%
• Country: CA
• Employees: 439
• Sector: Basic Materials
• Sector Strength: 68
• Industry: Gold
• EPS (TTM): 0.02
• Shares Outstanding: 227,238,590
• 10 Day Avg. Volume: 533,709
• 30 Day Avg. Volume: 337,800
• PEG Ratio: 0.00
• Price to Book (P/B): 0.54
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -29.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $27.99
• Price Target Upside: 6.93% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 62 Neutral
• Price Target: ―

Artemis Gold's overall stock score reflects a mix of strong operational progress with the Blackwater Mine and substantial financial risks. The technical indicators show robust momentum, but the financials are currently weak with high leverage and negative cash flow. The valuation is speculative, focusing on future growth rather than current earnings. Investors should weigh the potential for future performance against the financial uncertainties.

Positive Factors

Financial Position

Cash is being brought in through a royalty and infrastructure sale, which can strengthen the company's financial position.

Strategic Growth

Acquiring a small but accretive Montney royalty suggests strategic growth.

Negative Factors

Uncertainty

A hold recommendation is given, with the year being described as make or break, indicating uncertainty.

Artemis Gold Business Overview & Revenue Model

Company Description

Artemis Gold Inc. (ARTG) is a Canadian-based gold development company focused on advancing its principal asset, the Blackwater Gold Project, located in British Columbia, Canada. The company operates within the mining sector, specializing in the exploration, development, and potential future production of gold and other precious metals. Artemis Gold aims to create value by developing its high-quality gold project through responsible and sustainable mining practices.

How the Company Makes Money

Artemis Gold makes money primarily through the exploration and development of its Blackwater Gold Project. The company generates revenue by advancing this project towards production, which involves significant capital investment in exploration, feasibility studies, permitting, and construction. Once operational, the company expects to earn revenue from the sale of extracted gold and other by-products. Artemis Gold may also engage in strategic partnerships, joint ventures, or off-take agreements with other mining companies or investors to secure financing and share risks. Additionally, fluctuations in gold prices and the successful execution of its project development plans are critical factors influencing the company's potential earnings.

Artemis Gold Financial Statement Overview

Summary

Artemis Gold's financial performance is marked by significant challenges, including zero revenue, high leverage, and negative cash flow, typical of a developmental stage mining company. While there is potential growth from the Blackwater Mine, current financial health is risky with ongoing high costs and debt levels.

Income Statement

Artemis Gold's income statement reveals significant challenges with consistent net losses over the years. The company reports zero revenue, which is typical in early-stage mining operations focusing on exploration and development. Gross profit and net income continue to be negative, indicating ongoing operational inefficiencies and high costs relative to nonexistent revenue.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.03 in the TTM period, reflecting increased leverage that could pose financial risks. However, the company has maintained a reasonable equity base, with stockholders' equity representing 34.6% of total assets, indicating some level of financial stability.

Cash Flow

The cash flow statement highlights a challenging scenario with negative free cash flow and operating cash flow, indicating cash outflows exceed inflows, typical for companies in the development phase. The significant reliance on financing activities suggests potential sustainability concerns in the absence of revenue generation.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	-987.00K	-412.00K	-341.00K	-167.00K
	EBIT
-17.33M	-13.98M	-13.12M	-10.72M	-6.51M
	EBITDA
-16.10M	-12.80M	-12.60M	-10.07M	-5.92M
	Net Income Common Stockholders
-31.44M	-11.45M	-21.63M	-13.71M	-3.93M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
28.28M	156.59M	194.09M	132.48M	55.84M
	Total Assets
1.71B	1.12B	656.75M	469.79M	352.67M
	Total Debt
610.09M	164.84M	1.71M	1.24M	846.64K
	Net Debt
581.82M	8.25M	-192.38M	-130.12M	-51.00M
	Total Liabilities
1.12B	539.42M	79.32M	50.46M	93.44M
	Stockholders Equity
590.85M	581.36M	577.43M	419.33M	259.24M
Cash Flow		Free Cash Flow
-491.59M	-401.34M	-102.97M	-89.37M	-148.98M
	Operating Cash Flow
-8.81M	-4.92M	-6.05M	-5.73M	-4.13M
	Investing Cash Flow
-457.78M	-421.98M	-96.79M	-79.66M	-149.68M
	Financing Cash Flow
333.59M	389.40M	165.58M	164.90M	174.16M

Artemis Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 26.18
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ARTG, the sentiment is Positive. The current price of 26.18 is above the 20-day moving average (MA) of 23.74, above the 50-day MA of 21.29, and above the 200-day MA of 16.33, indicating a bullish trend. The MACD of 1.54 indicates Negative momentum. The RSI at 67.50 is Neutral, neither overbought nor oversold. The STOCH value of 74.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ARTG.

Artemis Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WDO	78 Outperform	C$2.97B	16.07	34.73%	―	80.44%	3757.72%
KNT	77 Outperform	C$3.70B	15.11	39.28%	―	105.06%	481.75%
ARTG	62 Neutral	$5.95B	―	-3.49%	―	―	-154.04%
Sector *	51 Neutral	$2.04B	-1.23	-21.09%	3.96%	2.90%	-30.45%
SEA	46 Neutral	C$2.00B	―	-1.46%	―	―	1.89%
NVO	41 Neutral	C$37.24M	―	-25.75%	―	―	―

Artemis Gold Corporate Events

Artemis Gold Achieves Commercial Production at Blackwater Mine

Artemis Gold has announced the achievement of commercial production at its Blackwater Mine in British Columbia, processing an average of 17,700 tonnes per day through its crushing circuit and 16,700 tonnes per day through its milling circuit. The company expects to produce 160,000-200,000 ounces of gold in the eight months ending December 31, 2025, with all-in sustaining costs ranging from US$670 to US$770 per ounce. The company plans to invest in infrastructure and design work for a proposed Phase 2 expansion, which could increase annual production to over 500,000 equivalent gold ounces, establishing Blackwater as a Tier 1 asset.

Spark’s Take on TSE:ARTG Stock

According to Spark, TipRanks’ AI Analyst, TSE:ARTG is a Neutral.

Artemis Gold’s overall stock score reflects a balance between significant operational progress and financial challenges. The company is advancing well with its Blackwater Mine operations, showing technical momentum and potential for future growth. However, substantial financial risks due to high leverage, negative cash flow, and lack of revenue limit current valuation attractiveness. Investors may find the stock appealing based on its growth prospects, but should be cautious of the financial uncertainties.

To see Spark’s full report on TSE:ARTG stock, click here.

Artemis Gold Files 2024 Financial Results, Advances Blackwater Mine Operations

Artemis Gold Inc. has announced the filing of its annual financial results for the year ending December 31, 2024. The company has made its consolidated financial statements and management’s discussion and analysis available on SEDAR+ and its website. This announcement marks a significant step in the company’s operations as it continues to ramp up production at the Blackwater Mine, which is expected to enhance its market positioning and provide value to stakeholders.

Artemis Gold Grants Stock Options and Share Units to Support Growth

Artemis Gold has announced the granting of 1,110,200 incentive stock options, 495,500 restricted share units, and 20,400 deferred share units to its directors, officers, and employees as part of its annual long-term incentive plan. This move aligns with the company’s regular compensation cycle and supports its operations as it ramps up production at the Blackwater Mine, reinforcing its position in the gold development industry.

Artemis Gold Advances Blackwater Mine Ramp-up

Artemis Gold Inc. has announced progress in ramping up operations at the Blackwater Mine, following the first gold and silver pour in January 2025. The company has exceeded nameplate capacity in its crushing circuit and achieved significant throughput in its ball mill. With the commissioning of a third production excavator and full staffing of operational roles, Artemis is on track to reach commercial production by Q2 2025, enhancing their positioning in the gold mining industry.