Want to see TSE:ATHA full AI Analyst Report?
Top Page
Athena Gold
(ATHA)
Select Model
Select Model
Rating:51Neutral
Price Target:
C$0.31
▼(-8.24% Downside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn), partially offset by a low-debt balance sheet with positive equity. Technicals are neutral with mild near-term stabilization but a weaker longer-term trend, while valuation appears low on P/E yet is less reliable given the early-stage, pre-revenue profile.
Positive Factors
Debt-Free Balance Sheet
The absence of debt reduces mandatory interest and repayment demands, giving Athena Gold greater financial flexibility while it advances exploration projects. This conservative leverage profile can help preserve strategic options and limit balance-sheet stress during periods when mineral assets are not yet producing revenue.
Negative Factors
Pre-Revenue Business
Athena Gold has not yet established a revenue-generating operation, so its financial performance cannot currently be supported by recurring sales or production. Until exploration properties advance into commercial development, shareholder outcomes remain dependent on project progress, financing access, and eventual resource monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
The absence of debt reduces mandatory interest and repayment demands, giving Athena Gold greater financial flexibility while it advances exploration projects. This conservative leverage profile can help preserve strategic options and limit balance-sheet stress during periods when mineral assets are not yet producing revenue.
Read all positive factors
Athena Gold (ATHA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$12.00M
Dividend YieldN/A
Average Volume (3M)106.26K
Price to Earnings (P/E)1.0
Beta (1Y)-1.41
Revenue GrowthN/A
EPS Growth-1169.72%
CountryCA
Employees1
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.48
Shares Outstanding35,820,060
10 Day Avg. Volume78,621
30 Day Avg. Volume106,264
Financial Highlights & Ratios
PEG Ratio1.14
Price to Book (P/B)1.60
Price to Sales (P/S)0.00
P/FCF Ratio-7.69
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)N/A
Revenue Forecast (FY)N/A
Athena Gold Business Overview & Revenue Model
Company Description
Athena Gold Corporation operates as an exploration-phase enterprise, dedicated to discovering and securing mineral resource assets across the United States. Its cornerstone holding is the entirely owned Excelsior Springs project, strategically loc...
Athena Gold Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.57M | -128.87K | -908.62K | -782.68K | -1.30M | -739.82K |
| Net Income | -3.63M | -135.21K | -637.00K | 612.75K | -684.00K | -1.03M |
Balance Sheet | ||||||
| Total Assets | 7.89M | 9.68M | 6.99M | 6.74M | 6.24M | 6.12M |
| Cash, Cash Equivalents and Short-Term Investments | 2.00M | 5.01M | 618.40K | 2.81K | 15.07K | 72.82K |
| Total Debt | 0.00 | 0.00 | 103.42K | 0.00 | 106.21K | 0.00 |
| Total Liabilities | 286.52K | 1.37M | 838.00K | 423.16K | 1.28M | 1.07M |
| Stockholders Equity | 7.61M | 8.30M | 6.15M | 6.32M | 4.96M | 5.05M |
Cash Flow | ||||||
| Free Cash Flow | -2.41M | -1.72M | -711.05K | -696.22K | -956.05K | -656.64K |
| Operating Cash Flow | -2.39M | -1.71M | -666.05K | -696.22K | -926.83K | -656.64K |
| Investing Cash Flow | 641.40K | 575.10K | 26.24K | 0.00 | -29.21K | 0.00 |
| Financing Cash Flow | 2.30M | 2.96M | 879.08K | 683.95K | 898.30K | 720.48K |
Athena Gold Technical Analysis
Negative
0.34
Price Trends
0.32
Positive
0.37
Negative
0.51
Negative
Market Momentum
<0.01
Positive
49.37
Neutral
32.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ATHA, the sentiment is Negative. The current price of 0.34 is below the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.32, and below the 200-day MA of 0.51, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.37 is Neutral, neither overbought nor oversold. The STOCH value of 32.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ATHA.
Athena 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% | |
56 Neutral | C$39.36M | 20.51 | 12.62% | ― | ― | ― | |
51 Neutral | C$12.00M | 0.95 | 9.83% | ― | ― | -1169.72% | |
51 Neutral | C$11.89M | -12.25 | -18.50% | ― | ― | 72.68% | |
48 Neutral | C$15.85M | 1.94 | 55.78% | ― | ― | ― | |
46 Neutral | C$16.35M | -4.59 | -6.12% | ― | ― | 22.31% | |
45 Neutral | C$16.33M | -3.83 | -31.29% | ― | ― | -124.48% |
* Basic Materials Sector Average
TSE:ATHA
Athena Gold
0.31
-0.23
-43.01%
TSE:ENDR
Enduro Metals
0.13
-0.01
-10.34%
TSE:NOB
Noble Mineral Exploration
0.06
0.03
89.66%
TSE:RRI
Riverside Resources
0.45
0.27
147.22%
TSE:SNG
Silver Range Resources
0.13
0.02
13.64%
TSE:SAE
Sable Resources
0.50
0.15
42.86%
Athena Gold Corporate Events
Business Operations and StrategyExecutive/Board Changes
Athena Gold Adds Veteran Resource Financier Fred Leigh to Board and Issues New Stock Options
Positive
Sep 8, 2026
Athena Gold Corporation has strengthened its board by appointing veteran resource investor Fred Leigh as a director, replacing Brian Power, who will remain with the company as a consultant. Leigh brings nearly four decades of experience backing ma...
Business Operations and Strategy
Athena Gold Highlights High-Grade Drilling Results at Excelsior Springs in Nevada
Positive
Sep 1, 2026
Athena Gold reported an exploration update from its Excelsior Springs project in Nevada, where partner Mammoth Minerals is earning an 80% interest while carrying Athena through to a definitive feasibility study. Mammoth’s latest reverse circ...
Business Operations and Strategy
Athena Gold Unveils High-Grade Grassroots Discovery at Red Lake’s Laird Lake Project
Positive
Aug 19, 2026
Athena Gold has announced a high-grade, near-surface gold discovery at its Laird Lake project in Ontario’s Red Lake district, with hole LL-26-006A returning 23.85 grams per tonne gold over five metres in the newly defined Scooby Zone. The di...
Business Operations and Strategy
Athena Gold Highlights Mammoth’s New Drill Success at Excelsior Springs
Positive
Aug 12, 2026
Athena Gold reported an exploration update from its Excelsior Springs project in Nevada, where partner Mammoth Minerals has intersected significant shallow gold mineralization at the Lunchbox Ridge Prospect. The new RC drilling results extend the ...
Business Operations and Strategy
Athena Gold Triples Footprint at Forester Project in Musselwhite Gold Camp
Positive
Aug 11, 2026
Athena Gold Corporation has significantly expanded its 100%-owned Forester gold project in Ontario’s Musselwhite Gold Camp, adding 6,088 hectares of contiguous mining claims through recent map staking. The transaction increases the Forester ...
Business Operations and StrategyExecutive/Board Changes
Athena Gold Strengthens Investor Relations With New Vice President Appointment
Positive
Aug 6, 2026
Athena Gold Corporation has appointed Farid Mammadov as Vice President, Investor Relations, underscoring a stronger emphasis on capital markets communication as the company advances key exploration catalysts. Mammadov brings more than five years o...
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.