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GoldMining
(TSX:GOLD)
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Rating:44Neutral
Price Target:
C$1.00
▼(-37.11% Downside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by weak operating fundamentals (no reported revenue, widening losses, and persistent negative free cash flow). A strong, low-leverage balance sheet partially offsets this risk, but technicals also point to a sustained downtrend with bearish momentum despite oversold readings. Valuation provides limited support due to negative earnings and no stated dividend yield.
Positive Factors
Very low leverage
Extremely low debt relative to equity limits financial strain and reduces refinancing exposure while the company advances its mineral properties. This conservative capital structure preserves flexibility to fund exploration, technical studies, or partnerships without the burden of substantial fixed obligations.
Negative Factors
No reported revenue
The absence of reported revenue indicates that the company has not established recurring operating income from its mineral portfolio. Until projects are monetized or reach production, financial performance remains dependent on asset transactions and external funding rather than a self-sustaining revenue base.
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Positive Factors
Negative Factors
Very low leverage
Extremely low debt relative to equity limits financial strain and reduces refinancing exposure while the company advances its mineral properties. This conservative capital structure preserves flexibility to fund exploration, technical studies, or partnerships without the burden of substantial fixed obligations.
Read all positive factors
GoldMining (GOLD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$224.10M
Dividend YieldN/A
Average Volume (3M)256.92K
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue GrowthN/A
EPS Growth-100.77%
CountryCA
Employees43
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.16
Shares Outstanding215,484,090
10 Day Avg. Volume292,776
30 Day Avg. Volume256,917
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)1.76
Price to Sales (P/S)0.00
P/FCF Ratio-17.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$4.08Price Target Upside156.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.18
Revenue Forecast (FY)N/A
GoldMining Business Overview & Revenue Model
Company Description
GoldMining Inc. is a mineral exploration enterprise primarily involved in the acquisition, discovery, and advancement of gold properties throughout the Americas. It maintains a diverse array of early-stage gold and gold-copper projects situated in...
How the Company Makes Money
GoldMining’s primary economic model is asset-value creation rather than operating cash flow from producing mines. The company seeks to make money mainly by (1) acquiring mineral properties it believes are undervalued, (2) investing in exploration ...
GoldMining Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -357.00K | -346.00K | -331.00K | -237.00K | 1.19M | -186.00K |
| EBITDA | -38.41M | -25.54M | -23.70M | -23.93M | -13.35M | -11.19M |
| Net Income | -33.30M | -13.48M | -25.29M | -28.76M | -13.20M | 100.36M |
Balance Sheet | ||||||
| Total Assets | 210.45M | 237.96M | 120.96M | 136.88M | 147.33M | 200.16M |
| Cash, Cash Equivalents and Short-Term Investments | 48.24M | 26.38M | 11.90M | 21.59M | 8.35M | 11.71M |
| Total Debt | 225.00K | 299.00K | 387.00K | 395.00K | 9.08M | 12.65M |
| Total Liabilities | 8.45M | 8.36M | 5.80M | 4.46M | 12.24M | 24.45M |
| Stockholders Equity | 200.02M | 226.79M | 113.76M | 129.24M | 135.09M | 175.70M |
Cash Flow | ||||||
| Free Cash Flow | -32.94M | -23.22M | -23.18M | -22.50M | -11.13M | -7.97M |
| Operating Cash Flow | -32.25M | -23.22M | -22.53M | -21.83M | -10.99M | -7.92M |
| Investing Cash Flow | -1.70M | 2.04M | -1.04M | -3.76M | -6.42M | -2.39M |
| Financing Cash Flow | 43.92M | 34.38M | 13.35M | 39.88M | 13.91M | 12.77M |
GoldMining Technical Analysis
Negative
1.59
Price Trends
1.34
Negative
1.32
Negative
1.60
Negative
Market Momentum
-0.08
Positive
28.65
Positive
40.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GOLD, the sentiment is Negative. The current price of 1.59 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.34, and below the 200-day MA of 1.60, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 28.65 is Positive, neither overbought nor oversold. The STOCH value of 40.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:GOLD.
GoldMining 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% | |
57 Neutral | C$288.61M | -57.38 | -1.96% | ― | ― | ― | |
56 Neutral | C$462.89M | -111.11 | -3.61% | ― | ― | -18.03% | |
55 Neutral | C$710.68M | -121.95 | -5.10% | ― | ― | -11.93% | |
50 Neutral | C$355.80M | -44.32 | -9.32% | ― | ― | -88.78% | |
50 Neutral | C$208.13M | -9.74 | -42.82% | ― | ― | -120.53% | |
44 Neutral | C$224.10M | -6.62 | -14.88% | ― | ― | -100.77% |
* Basic Materials Sector Average
TSE:GOLD
GoldMining
1.04
-0.89
-46.11%
TSE:BYN
Banyan Gold
1.50
0.70
87.50%
TSE:RDS
Radisson Mining Resources
0.90
0.19
26.76%
TSE:TUD
Tudor Gold
0.70
-0.14
-16.67%
TSE:SIG
Sitka Gold Corp.
0.82
-0.24
-22.64%
TSE:MFG
Mayfair Gold
3.10
-1.04
-25.12%
GoldMining Corporate Events
Business Operations and Strategy
GoldMining Confirms Nearly 400 Metres of Continuous Gold-Copper Mineralization at Yarumalito
Positive
Oct 6, 2026
GoldMining reported initial assay results from its 2026 diamond drilling program at the 100%-owned Yarumalito gold-copper project in Colombia’s Mid Cauca belt, confirming wide intervals of porphyry-style mineralization from surface. Drill ho...
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.