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Freeman Gold Corp (FMAN) AI Stock Analysis

9 Followers
TSE:FMAN

Freeman Gold Corp

(TSXV:FMAN)

Select Model
Rating:44Neutral
Price Target:CAD 0.25â–¼(-11.79% Downside)
Action:reiterated
Date:10/18/26

The score is primarily weighed down by weak financial performance (no revenue, recurring losses, and significant negative free cash flow that increases financing dependence). Technicals also detract due to a clear downtrend versus major moving averages and negative momentum. Valuation offers limited support because the negative P/E reflects ongoing losses and there is no dividend yield data to offset risk.

Positive Factors
Low LeverageLow leverage and a substantial equity base provide financial flexibility relative to many pre-revenue peers. This supports continued exploration activity and gives the company more capacity to manage obligations without the immediate balance-sheet pressure associated with heavy debt.
Negative Factors
No Operating RevenueThe absence of operating revenue means Freeman Gold has no demonstrated commercial cash-generating base to support exploration and corporate costs. Progress therefore depends on advancing assets toward monetization, while the timing and scale of any future revenue remain uncertain.

Freeman Gold Corp (FMAN) vs. iShares MSCI Canada ETF (EWC)

-25%0%25%50%75%100%125%TSE:FMAN+40.00%EWC+21.06%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
CAD 62.27M
Dividend Yield
―
Average Volume (3M)
125.61K
Price to Earnings (P/E)
-30.4
Beta (1Y)
1.05
Revenue Growth
―
EPS Growth
44.71%
Country
Canada
Employees
0
Sector
Basic Materials
Sector Strength
61
Industry
Gold

Freeman Gold Corp Business Overview & Revenue Model

Company Description

Freeman Gold Corp. is dedicated to securing, investigating, and appraising mineral deposits across Canada and the United States. Its primary holding is the wholly-owned Lemhi gold project, strategically located in Lemhi County, Idaho. This substantia...

How the Company Makes Money

Freeman Gold Corp does not typically generate recurring operating revenue because it is an exploration-stage company without disclosed commercial production in the available information. Instead, it is generally funded through capital markets financi...

Freeman Gold Corp Financial Statement Overview

Summary

Balance sheet strength (low leverage with debt-to-equity around 0.09–0.10 and substantial equity base) supports near-term flexibility, but overall financial performance is heavily constrained by no revenue, persistent net losses, and ongoing cash burn. Operating cash flow is consistently negative (TTM about -$2.25M) and free cash flow is materially negative and worsening (TTM about -$10.9M), increasing reliance on external financing.

Income Statement

18Very Negative

Balance Sheet

64Positive

Cash Flow

22Negative
Financial statement breakdown
BreakdownTTMNov 2025Nov 2024Nov 2023Nov 2022Nov 2021
Income Statement
Total Revenue000000
Gross Profit0000-126.00K-87.03K
EBITDA-2.15M-4.54M027.64K-3.10M-3.40M
Net Income-2.88M-5.43M-32.24K-1.67M726.44K-3.49M
Balance Sheet
Total Assets43.15M44.28M30.92M28.35M29.97M31.33M
Cash, Cash Equivalents and Short-Term Investments5.23M11.69M4.41M2.33M5.31M20.05M
Total Debt3.70M3.67M033.69K107.06K0
Total Liabilities4.62M5.15M477.95K1.44M1.85M5.25M
Stockholders Equity38.53M39.13M30.44M26.90M28.12M26.08M
Cash Flow
Free Cash Flow-10.93M-8.00M-1.64M-1.16M-14.82M-4.97M
Operating Cash Flow-2.25M-2.45M-952.68K-1.16M-2.07M-2.35M
Investing Cash Flow-7.34M-5.57M-549.88K-1.74M-12.86M-2.62M
Financing Cash Flow-23.15K15.29M3.54M-78.87K-34.53K19.86M

Freeman Gold Corp Technical Analysis

Technical Analysis SentimentNegative
Last Price0.28

Price Trends

50DMA0.34Negative
100DMA0.35Negative
200DMA0.34Negative

Market Momentum

MACD-0.02Negative
RSI45.81Neutral
STOCH83.33Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FMAN, the sentiment is Negative. The current price of 0.28 is above the 20-day moving average (MA) of 0.27, below the 50-day MA of 0.34, and below the 200-day MA of 0.34, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 45.81 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FMAN.

Freeman Gold Corp Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

TSE:FMAN against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
TSE:CCMTSE:CCM49NeutralCAD 148.27M-41.33-5.89%――-55.56%
TSE:FMANTSE:FMAN44NeutralCAD 86.65M-30.43-7.47%――44.71%
TSE:TECTTSE:TECT43NeutralCAD 215.43M-4.66-64.67%――-56.24%
TSE:YARRTSE:YARR34UnderperformCAD 66.05M-15.99-59.35%――-264.04%

* Basic Materials Sector Average

Performance Comparison

0%100%200%TSE:FMANTSE:CCMTSE:YARRTSE:TECTDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TSE:FMAN and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:FMANFreeman Gold Corporation0.280.0840.00%
TSE:CCMCanagold Resources Ltd.0.660.2455.29%
TSE:YARRSokoman Minerals Corp0.13-0.06-31.58%
TSE:TECTTectonic Metals, Inc.1.640.6667.35%

Freeman Gold Corp Corporate Events

Business Operations and StrategyRegulatory Filings and Compliance

Freeman Gold Seeks FAST-41 Status for Lemhi Project

Positive
Nov 9, 2026

Freeman Gold Corp. is a mineral exploration and development company focused on gold assets, including its wholly owned Lemhi Gold Project in Idaho, with a focus on advancing a North American mining project. The company submitted a FAST-41 Initiation...

Business Operations and StrategyRegulatory Filings and Compliance

Freeman Gold Launches Baseline Studies for Lemhi Project Permitting

Positive
Oct 8, 2026

Freeman Gold Corp. has launched comprehensive land use and socioeconomic baseline studies at its Lemhi Gold Project in Idaho, partnering with GSI Environmental to assess human and environmental conditions around the site. The work covers socioeconomi...

Business Operations and Strategy

Freeman Gold Launches Key Environmental Baseline Programs at Lemhi Project

Positive
Sep 21, 2026

Freeman Gold Corp. has begun baseline soil and geochemistry programs at its Lemhi Gold Project in Idaho to advance environmental characterization and support long-term mine planning. The work targets roughly 1,300 acres within the project’s anticipat...

Business Operations and StrategyRegulatory Filings and Compliance

Freeman Gold Launches Key Environmental Baseline Studies at Lemhi Project

Positive
Aug 27, 2026

Freeman Gold Corp. has begun baseline environmental studies for water and air resources at its Lemhi Gold Project in Idaho as part of advancing the asset toward full permitting. Working with GSI Environmental and Trinity Consultants, the company is c...

Business Operations and StrategyPrivate Placements and Financing

Freeman Gold Settles Debenture Interest With Share Issuance After TSX-V Approval

Positive
Aug 25, 2026

Freeman Gold Corp. has secured TSX Venture Exchange approval to settle annual interest on $1.2 million of its 10% unsecured convertible debentures through the issuance of 300,000 common shares at a deemed price of $0.40 per share. The shares, issued...

Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance

Freeman Gold to Settle Part of Debenture Interest in Shares, Easing Cash Burden

Positive
Aug 18, 2026

Freeman Gold Corp. said holders of $1.2 million principal of its 10% convertible unsecured debentures due 2030 have chosen to receive their 2026 annual interest payment in common shares instead of cash. Based on a TSX Venture Exchange closing price o...

Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance

Freeman Gold Files Lemhi Feasibility Report Showing Over US$1 Billion NPV at Current Gold Prices

Positive
Aug 13, 2026

Freeman Gold Corp. has filed a NI 43-101 technical report supporting the feasibility study for its Lemhi Gold Project in Idaho, confirming a base-case after-tax NPV of US$695.6 million, a 34.4% IRR and a 2.5-year payback at US$3,650 per ounce gold. T...

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: Oct 18, 2026