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Baru Gold (BARU) AI Stock Analysis

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TSE:BARU

Baru Gold

(TSXV:BARU)

Select Model
Rating:48Neutral
Price Target:CAD 0.05â–²(35.00% Upside)
Action:reiterated
Date:09/12/26

The score is held down primarily by weak financial performance: pre-revenue operations, ongoing net losses, and worsening free cash flow increase financing and dilution risk despite some balance-sheet deleveraging. Technicals provide partial support with an improving uptrend and positive MACD, though RSI near overbought levels adds caution. Valuation is less supportive because negative earnings make P/E less informative and there is no dividend yield.

Positive Factors
Improving LeverageSubstantial deleveraging improves financial flexibility and reduces balance-sheet pressure as the project advances. A lower debt-to-equity ratio can make future financing more manageable, preserve a greater share of potential project value for shareholders, and strengthen resilience against development delays.
Negative Factors
Pre-Revenue BusinessWithout operating revenue, the company has no demonstrated commercial earnings stream to fund ongoing activities or project development. Its investment case therefore remains dependent on successfully advancing Sangihe toward production, making execution and future financing critical to long-term viability.

Baru Gold (BARU) vs. iShares MSCI Canada ETF (EWC)

-60%-40%-20%0%20%40%TSE:BARU-42.86%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 16.14M
Dividend Yield
―
Average Volume (3M)
481.14K
Price to Earnings (P/E)
-5.1
Beta (1Y)
1.06
Revenue Growth
―
EPS Growth
25.71%
Country
Canada
Employees
0
Sector
General
Sector Strength
55
Industry
Gold

Baru Gold Business Overview & Revenue Model

Company Description

Baru Gold Corporation is an entity primarily focused on the exploration and assessment of mineral resources within Indonesia. The company holds a significant 70% ownership in the Sangihe gold-silver project, a 42,000-hectare site located on Sangihe I...

How the Company Makes Money

Baru Gold’s primary intended source of revenue is the sale of gold (and any by-product metals, if produced) from its Sangihe Gold Project once the project reaches commercial production. Prior to production, the company typically does not generate ope...

Baru Gold Financial Statement Overview

Summary

Financial quality is weak: the company is effectively pre-revenue with persistent net losses (about -2.8M TTM) and consistently negative operating cash flow (about -0.82M TTM). Free cash flow deteriorated to roughly -2.30M TTM, increasing financing/dilution risk. The main positive is improving leverage (debt-to-equity down to ~0.71 TTM) with positive equity (~3.34M), but profitability and cash stabilization are not yet visible.

Income Statement

12Very Negative

Balance Sheet

42Neutral

Cash Flow

18Very Negative
Financial statement breakdown
BreakdownTTMNov 2025Nov 2024Nov 2023Aug 2022Aug 2021
Income Statement
Total Revenue00007,0330
Gross Profit-59.20K-65.56K-43.13K-125.00K-125.00K-52.29K
EBITDA-2.52M-2.61M-1.47M-1.87M-1.80M-4.04M
Net Income-2.80M-3.26M-2.30M-3.28M-2.30M-4.07M
Balance Sheet
Total Assets11.68M11.86M9.70M9.40M8.20M6.55M
Cash, Cash Equivalents and Short-Term Investments12.46K885.90K48.33K38.11K511.37K1.93M
Total Debt2.35M3.15M2.69M1.95M1.63M10.01K
Total Liabilities8.35M8.97M8.41M6.89M3.14M1.43M
Stockholders Equity3.34M2.89M1.29M2.51M5.06M5.12M
Cash Flow
Free Cash Flow-2.30M-457.22K-595.48K-734.14K-4.86M-4.82M
Operating Cash Flow-820.51K-457.22K-505.54K-283.43K-2.30M-3.22M
Investing Cash Flow-2.61M-2.08M-89.94K-450.71K-2.56M-1.59M
Financing Cash Flow3.11M3.38M605.70K260.88K3.44M6.18M

Baru Gold Technical Analysis

Technical Analysis SentimentNegative
Last Price0.04

Price Trends

50DMA0.06Negative
100DMA0.05Negative
200DMA0.05Negative

Market Momentum

MACD-0.00Positive
RSI41.09Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BARU, the sentiment is Negative. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.06, and below the 200-day MA of 0.05, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 41.09 is Neutral, neither overbought nor oversold. The STOCH value of is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BARU.

Baru Gold Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:BARU against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:CANXTSE:CANX51NeutralCAD 95.64M-33.98-11.17%――-232.26%
TSE:BARUTSE:BARU48NeutralCAD 16.45M-5.13-89.43%――25.71%
TSE:PUMATSE:PUMA47NeutralCAD 22.28M64.702.42%―――
TSE:VAUTSE:VAU47NeutralCAD 39.39M-8.60-108.33%――-3.88%
TSE:KALOTSE:KALO39UnderperformCAD 13.54M-1.09-161.75%――-78.95%
TSE:PHNMTSE:PHNM39UnderperformCAD 39.68M-32.95-4.66%――19.44%

* General Sector Average

Performance Comparison

0%100%200%300%TSE:BARUTSE:PHNMTSE:PUMATSE:CANXTSE:VAUTSE:KALODec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:BARU and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:BARUBaru Gold Corp.0.04-0.03-42.86%
TSE:PHNMPhenom Resources Corp0.290.011.75%
TSE:PUMAPuma Exploration0.11-0.06-35.29%
TSE:CANXCANEX Metals 0.350.24218.18%
TSE:VAUViva Gold Corp0.180.0212.12%
TSE:KALOKalo Gold Holdings Corp.0.12-0.27-69.74%

Baru Gold Corporate Events

Business Operations and StrategyRegulatory Filings and Compliance

Baru Gold Nears Final Approval for Production at Indonesia’s Sangihe Project

Positive
Sep 17, 2026

Baru Gold Corp. has confirmed that Indonesia’s Ministry of Energy and Mineral Resources has deemed its application to begin production at the Sangihe Gold Project complete, with no further documentation required. The file is now moving through...

Business Operations and StrategyRegulatory Filings and Compliance

Baru Gold Nears Production Approval for Indonesian Sangihe Project

Positive
Sep 17, 2026

Baru Gold Corp. has confirmed that Indonesia’s Ministry of Energy and Mineral Resources has deemed the company’s application to begin production at the Sangihe Gold Project complete, with no further meetings or submissions required. Regul...

Business Operations and StrategyPrivate Placements and Financing

Baru Gold Launches Private Placement to Fund Sangihe Gold Project Working Capital

Positive
Sep 17, 2026

Baru Gold Corp., a junior gold developer with NI 43-101 gold resources in Indonesia, is advancing its Sangihe Gold Project on the island of Sangihe through subsidiary PT. Tambang Mas Sangihe. The company holds a majority stake in a long-term Contract...

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.

Date of analysis: Sep 12, 2026