Faircourt Gold Income A (FGX) AI Stock Analysis

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Faircourt Gold Income A

(NEO-L:FGX)

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Rating:67Neutral

Price Target:CAD 2.50▲(0.73% Upside)

Action:reiterated

Date:08/04/26

The score is driven primarily by very strong valuation (low P/E and high dividend yield). Financial performance is mixed: a sharp 2025 earnings rebound and low leverage are offset by weak cash conversion (free cash flow down ~93% to ~0.07M despite strong net income) and historically volatile results. Technicals are largely neutral with a negative stochastic signal, offering limited momentum support.

Positive Factors

Income-focused gold exposureThe fund’s explicit mandate to invest in gold and precious-metals equities with a focus on income aligns its business model to generate dividend and distribution streams. Structurally, this provides a clear, enduring product proposition for income-seeking investors and a differentiated niche versus broad equity funds.

Negative Factors

Poor cash conversionA dramatic collapse in free cash flow relative to reported earnings signals weak cash conversion and raises persistent earnings-quality concerns. For an income-focused fund, unreliable cash generation can impair sustainable distributions, force asset sales to meet payouts, and reduce confidence in reported profitability over time.

Faircourt Gold Income A (FGX) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 16.57M
Dividend Yield: 5.97%
Average Volume (3M): 2,500
Price to Earnings (P/E): 2.3
Beta (1Y): ―
Revenue Growth: 194.83%
EPS Growth: 66.66%
Country: Canada
Employees: ―
Sector: Basic Materials
Sector Strength: 61
Industry: Asset Management - Income

Faircourt Gold Income A Business Overview & Revenue Model

Company Description

Faircourt Gold Income Corp., a closed-end equity fund managed by Faircourt Asset Management Inc., primarily invests in publicly traded Canadian companies. The fund specifically targets businesses within the precious metals sector, with a strong focus...

How the Company Makes Money

Faircourt Gold Income A (FGX) does not operate like an operating company; it is an investment fund. The fund’s economics typically involve: (1) portfolio-generated cash flows (e.g., dividends and other distributions received from portfolio holdings s...

Faircourt Gold Income A Financial Statement Overview

Summary

Income statement shows a strong 2025 rebound (revenue up ~45% YoY; net income ~10.1M) and the balance sheet is conservatively levered (debt-to-equity ~0.16–0.19 in 2021–2024) with sizable 2025 expansion in equity/assets. However, cash flow is a major weakness: free cash flow fell ~93% in 2025 to ~0.07M despite strong earnings, raising a material quality-of-earnings and durability concern given the historical volatility.

Income Statement

62Positive

Balance Sheet

76Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.99M	3.01M	-150.71K	-97.11K	492.93K	2.66M
Gross Profit	4.75M	2.81M	-298.50K	-97.11K	312.27K	2.41M
EBITDA	6.75M	10.21M	1.52M	-69.66K	-92.57K	-99.83K
Net Income	6.68M	10.14M	1.50M	-551.14K	-979.13K	-2.17M
Balance Sheet
Total Assets	14.56M	18.03M	9.31M	9.18M	11.13M	14.13M
Cash, Cash Equivalents and Short-Term Investments	14.50M	17.99M	9.27M	9.13M	11.10M	14.02M
Total Debt	1.54M	1.44M	1.24M	1.44M	1.70M	2.20M
Total Liabilities	1.83M	1.71M	1.51M	1.67M	2.06M	2.49M
Stockholders Equity	12.73M	16.33M	7.79M	7.51M	9.07M	11.64M
Cash Flow
Free Cash Flow	41.29K	70.51K	191.62K	924.53K	483.69K	321.92K
Operating Cash Flow	41.29K	70.51K	191.62K	924.54K	483.69K	321.92K
Investing Cash Flow	0	0	0	0	0	0
Financing Cash Flow	-3.24M	-1.42M	-1.42M	-1.27M	-2.10M	-3.00M

Faircourt Gold Income A Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:FGX against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:ABX	88Outperform	CAD 84.99B	9.55	24.57%	2.52%	48.57%	142.08%
TSE:WPM	81Outperform	CAD 73.77B	25.79	22.96%	0.64%	88.63%	156.74%
TSE:AEM	78Outperform	CAD 117.58B	13.59	22.39%	1.05%	41.38%	77.84%
TSE:FNV	72Outperform	CAD 60.64B	29.37	19.08%	0.75%	71.54%	85.90%
TSE:K	72Outperform	CAD 33.40B	7.68	33.78%	0.76%	30.01%	83.51%
TSE:FGX	67Neutral	CAD 6.33M	2.26	45.99%	5.97%	194.83%	66.66%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

* Basic Materials Sector Average

Performance Comparison

TSE:FGX and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:FGX	Faircourt Gold Income A	2.48	0.00	0.00%
TSE:AEM	Agnico-Eagle Mines Limited	230.79	4.44	1.96%
TSE:ABX	Barrick Mining Corporation	51.64	6.14	13.49%
TSE:FNV	Franco-Nevada Corporation	314.41	51.94	19.79%
TSE:K	Kinross Gold Corp	28.16	-4.57	-13.95%
TSE:WPM	Wheaton Precious Metals	162.43	26.65	19.62%

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: Aug 04, 2026

Faircourt Gold Income A AI Stock Analysis

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