Want to see TSE:IGO full AI Analyst Report?
Top Page
Independence Gold
(IGO)
Select Model
Select Model
Rating:50Neutral
Price Target:
C$0.21
▲(16.67% Upside)
Action:Reiterated
Date:09/06/26
Overall score is held back primarily by weak financial performance (no revenue, sizable ongoing losses, and persistent negative free cash flow implying financing/dilution risk). Technicals provide some support via a clear uptrend and positive MACD, but overbought readings (RSI/Stoch) and high beta raise near-term risk. Valuation remains unattractive/unclear due to negative earnings and no dividend yield.
Positive Factors
Very Low Leverage
Minimal debt reduces solvency pressure and limits interest obligations while the company advances exploration assets. This gives management greater flexibility than a highly leveraged explorer, although the benefit depends on preserving capital as cash losses continue.
Negative Factors
No Operating Revenue
Without operating revenue, the company cannot currently fund exploration from internally generated sales and has limited visibility into future operating leverage. Progress therefore depends on exploration success, asset transactions, or continued access to external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Minimal debt reduces solvency pressure and limits interest obligations while the company advances exploration assets. This gives management greater flexibility than a highly leveraged explorer, although the benefit depends on preserving capital as cash losses continue.
Read all positive factors
Independence Gold (IGO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$55.43M
Dividend YieldN/A
Average Volume (3M)526.05K
Price to Earnings (P/E)―
Beta (1Y)1.76
Revenue GrowthN/A
EPS Growth22.08%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.02
Shares Outstanding263,947,850
10 Day Avg. Volume713,846
30 Day Avg. Volume526,054
Financial Highlights & Ratios
PEG Ratio1.20
Price to Book (P/B)2.37
Price to Sales (P/S)0.00
P/FCF Ratio-3.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Independence Gold Business Overview & Revenue Model
Company Description
Independence Gold Corp., established in Vancouver, Canada, in 2011, specializes in the acquisition, exploration, and assessment of sites prospective for gold and silver deposits across North America. The company wholly owns several significant pro...
How the Company Makes Money
Independence Gold is an exploration-stage company and, based on publicly available information, does not have disclosed recurring revenue from mineral production. As a result, its ability to fund operations is typically driven by capital-raising a...
Independence Gold Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
67
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -82.31K | -80.38K | -99.53K | -98.78K | -95.82K | -99.14K |
| EBITDA | -6.51M | -5.94M | -5.33M | -3.68M | -2.15M | -2.54M |
| Net Income | -6.00M | -6.04M | -5.46M | -3.81M | -2.28M | -8.95M |
Balance Sheet | ||||||
| Total Assets | 8.69M | 11.04M | 14.50M | 8.47M | 6.46M | 7.01M |
| Cash, Cash Equivalents and Short-Term Investments | 3.96M | 6.39M | 9.75M | 3.61M | 1.58M | 2.03M |
| Total Debt | 92.19K | 139.93K | 244.57K | 420.78K | 523.12K | 601.26K |
| Total Liabilities | 1.64M | 1.04M | 1.53M | 866.29K | 749.39K | 787.76K |
| Stockholders Equity | 7.05M | 10.00M | 12.98M | 7.60M | 5.71M | 6.23M |
Cash Flow | ||||||
| Free Cash Flow | -5.19M | -6.50M | -4.56M | -3.39M | -1.82M | -2.57M |
| Operating Cash Flow | -5.19M | -6.45M | -4.56M | -3.36M | -1.82M | -2.57M |
| Investing Cash Flow | -55.00K | -30.11K | -3.47K | -25.45K | -3.47K | 38.02K |
| Financing Cash Flow | 3.84M | 3.14M | 10.70M | 5.41M | 1.43M | 1.69M |
Independence Gold Technical Analysis
Positive
0.18
Price Trends
0.13
Positive
0.11
Positive
0.11
Positive
Market Momentum
0.02
Negative
74.44
Negative
91.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IGO, the sentiment is Positive. The current price of 0.18 is above the 20-day moving average (MA) of 0.15, above the 50-day MA of 0.13, and above the 200-day MA of 0.11, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 74.44 is Negative, neither overbought nor oversold. The STOCH value of 91.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:IGO.
Independence Gold Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | C$55.43M | -8.61 | -68.53% | ― | ― | 22.08% | |
48 Neutral | C$23.79M | -13.26 | -3.51% | ― | ― | 71.25% | |
47 Neutral | C$18.52M | -14.68 | -83.66% | ― | ― | -30.85% | |
45 Neutral | C$24.53M | -9.71 | -68.49% | ― | ― | -1878.57% | |
44 Neutral | C$17.63M | -4.25 | 269.55% | ― | ― | 63.82% |
* General Sector Average
TSE:IGO
Independence Gold
0.21
0.08
61.54%
TSE:IRV
Irving Resources
0.24
0.01
6.67%
TSE:RAK
Rackla Metals
0.25
-0.64
-72.16%
TSE:RDU
Radius Gold
0.16
0.02
10.34%
TSE:SWA
Sarama Resources
0.04
>-0.01
-22.22%
TSE:NBRK
New Break Resources Ltd.
0.27
0.13
92.86%
Independence Gold Corporate Events
Business Operations and Strategy
Independence Gold Confirms High-Grade Continuity at Goofy Vein on 3Ts Project
Positive
Aug 31, 2026
Independence Gold has reported additional high-grade gold and silver drill results from the recently discovered Goofy Vein at its 3Ts Gold Project in British Columbia. A key hole intersected 9.23 metres grading 5.12 g/t gold and 33.04 g/t silver a...
Business Operations and Strategy
Independence Gold Hits High-Grade Gold-Silver at Tommy Vein, 3Ts Project
Positive
Aug 19, 2026
Independence Gold Corp. reported strong drill results from the Tommy Vein System at its 3Ts Gold and Silver Project in British Columbia, with hole 3TS-26-34 intersecting 31.04 metres grading 9.07 g/t gold and 70.56 g/t silver. A second hole drille...
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.