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First Mining Gold
(TSX:FF)
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Rating:51Neutral
Price Target:
C$0.71
▼(-24.04% Downside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and sustained negative operating/free cash flow), partially offset by a low-leverage balance sheet. Technicals are supportive with a strong uptrend and positive MACD, but overbought readings raise near-term pullback risk. Valuation provides limited support because earnings are negative and no dividend yield is available.
Positive Factors
Low leverage
Minimal debt reduces interest obligations and financial risk while preserving flexibility to fund exploration, technical studies, permitting, or other project work. This gives the company greater resilience than a similarly unprofitable developer carrying substantial leverage.
Negative Factors
No operating revenue
Zero revenue means the company currently lacks an operating income stream to fund exploration, corporate costs, or project advancement. Until a property reaches development or another strategic outcome generates cash, financial progress remains dependent on its asset base and external funding capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Minimal debt reduces interest obligations and financial risk while preserving flexibility to fund exploration, technical studies, permitting, or other project work. This gives the company greater resilience than a similarly unprofitable developer carrying substantial leverage.
Read all positive factors
First Mining Gold (FF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.01B
Dividend YieldN/A
Average Volume (3M)5.72M
Price to Earnings (P/E)―
Beta (1Y)2.20
Revenue GrowthN/A
EPS Growth-432.69%
CountryCA
Employees30
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.06
Shares Outstanding1,421,694,500
10 Day Avg. Volume3,368,866
30 Day Avg. Volume5,719,847
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.95
Price to Sales (P/S)0.00
P/FCF Ratio-23.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.40Price Target Upside48.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
First Mining Gold Business Overview & Revenue Model
Company Description
First Mining Gold Corp. primarily focuses on the exploration and development of gold properties. In addition to its gold endeavors, the company also conducts exploration for other valuable metals, including silver, copper, and iron ore deposits. A...
First Mining Gold Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -279.00K | -135.00K | -486.00K | -479.00K | -235.00K | -168.00K |
| EBITDA | -10.04M | -8.82M | -17.48M | -6.60M | -6.82M | -9.61M |
| Net Income | -72.48M | -77.92M | -15.31M | -7.04M | -15.29M | -61.88M |
Balance Sheet | ||||||
| Total Assets | 371.13M | 348.79M | 294.85M | 286.07M | 266.93M | 260.31M |
| Cash, Cash Equivalents and Short-Term Investments | 40.53M | 45.35M | 13.74M | 12.47M | 13.74M | 42.90M |
| Total Debt | 137.00K | 175.00K | 221.00K | 172.00K | 315.00K | 442.00K |
| Total Liabilities | 148.57M | 130.74M | 50.41M | 47.67M | 39.26M | 36.38M |
| Stockholders Equity | 222.56M | 218.05M | 244.44M | 238.39M | 227.67M | 223.93M |
Cash Flow | ||||||
| Free Cash Flow | -36.57M | -27.40M | -25.05M | -23.61M | -40.95M | -22.92M |
| Operating Cash Flow | -8.89M | -7.39M | -3.95M | -5.10M | -5.08M | -6.44M |
| Investing Cash Flow | -15.82M | -14.26M | -17.87M | -11.31M | -15.81M | 1.85M |
| Financing Cash Flow | 56.61M | 53.99M | 20.74M | 15.12M | 4.89K | 5.26M |
First Mining Gold Technical Analysis
Neutral
0.94
Price Trends
0.82
Negative
0.70
Positive
0.62
Positive
Market Momentum
-0.04
Positive
38.56
Neutral
18.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FF, the sentiment is Neutral. The current price of 0.94 is above the 20-day moving average (MA) of 0.80, above the 50-day MA of 0.82, and above the 200-day MA of 0.62, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 38.56 is Neutral, neither overbought nor oversold. The STOCH value of 18.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:FF.
First Mining Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | C$1.17B | 15.34 | 33.99% | ― | 79.46% | 102.76% | |
72 Outperform | C$713.88M | 14.86 | 26.76% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | C$595.61M | 36.58 | 4.83% | 5.21% | 15.45% | ― | |
53 Neutral | C$867.10M | -93.04 | -3.32% | ― | ― | -788.57% | |
51 Neutral | C$1.01B | -12.22 | -32.30% | ― | ― | -432.69% | |
46 Neutral | C$678.69M | -1.94 | 67.96% | ― | ― | -202.34% |
* Basic Materials Sector Average
TSE:FF
First Mining Gold
0.71
0.40
129.03%
TSE:TAU
Thesis Gold Inc
2.94
1.03
53.93%
TSE:MKO
Mako Mining Corp
13.38
4.76
55.22%
TSE:HSTR
Heliostar Metals
2.55
0.56
28.14%
TSE:RML
Rusoro Mining
1.06
-0.17
-13.82%
TSE:JAG
Jaguar Mining
6.98
-0.34
-4.64%
First Mining Gold Corporate Events
Business Operations and StrategyPrivate Placements and Financing
First Mining Gold Raises $57.5 Million to Advance Canadian Projects
Positive
Sep 24, 2026
First Mining Gold Corp., a Canadian gold developer, is advancing its flagship Springpole project in northwestern Ontario and the Duparquet project in Quebec, while also maintaining a 20% interest in the Pickle Crow project and a sizeable equity po...
Business Operations and StrategyPrivate Placements and Financing
First Mining launches $50 million bought-deal to fund Canadian gold projects
Positive
Sep 18, 2026
First Mining Gold Corp., a Canadian gold developer, is advancing its flagship Springpole project in northwestern Ontario, where federal environmental assessment approval was received in June 2026, and the PEA-stage Duparquet project in Quebec̵...
Business Operations and Strategy
First Mining Strikes Landmark Springpole Pact with Slate Falls Nation
Positive
Aug 25, 2026
First Mining Gold Corp. has signed a Project Agreement with Slate Falls Nation for the development of the Springpole Gold Project in northwestern Ontario. The agreement follows a community-based consultation process and aims to develop one of Cana...
Business Operations and StrategyFinancial Disclosures
First Mining secures key permits, Indigenous agreements and JV restructuring in Q2 2026
Positive
Aug 12, 2026
First Mining reported its second-quarter 2026 results, highlighting substantial permitting and Indigenous partnership progress at its flagship Springpole Gold Project. The project received federal environmental assessment approval, and the company...
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.