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Montage Gold Corp.
(TSX:MAU)
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Rating:53Neutral
Price Target:
C$19.50
▼(-2.50% Downside)
Action:Reiterated
Date:08/19/26
The score is primarily constrained by weak financial performance (pre-revenue, sizable ongoing losses, and materially negative free cash flow that implies continued funding needs). Technicals are a meaningful positive, with a strong uptrend versus key moving averages and positive MACD, partially offset by a stretched stochastic. Valuation contributes little support due to negative earnings (negative P/E) and no dividend yield data.
Positive Factors
Strong Equity Base and Modest Leverage
A sizable equity base and limited leverage provide financial resilience for an early-stage developer. This structure may help Montage fund exploration and development while reducing near-term dependence on high-cost debt.
Negative Factors
Pre-Revenue Business Model
Montage has not yet established an operating revenue stream, so its investment case depends on advancing projects toward construction, production, or another monetization event. This creates substantial execution and timing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Equity Base and Modest Leverage
A sizable equity base and limited leverage provide financial resilience for an early-stage developer. This structure may help Montage fund exploration and development while reducing near-term dependence on high-cost debt.
Read all positive factors
Montage Gold Corp. (MAU) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$7.81B
Dividend YieldN/A
Average Volume (3M)1.00M
Price to Earnings (P/E)―
Beta (1Y)1.98
Revenue GrowthN/A
EPS Growth42.62%
CountryCA
Employees35
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.13
Shares Outstanding405,195,300
10 Day Avg. Volume748,711
30 Day Avg. Volume1,002,801
Financial Highlights & Ratios
PEG Ratio1.60
Price to Book (P/B)30.24
Price to Sales (P/S)0.00
P/FCF Ratio-8.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$20.67Price Target Upside3.33% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)<0.01
Revenue Forecast (FY)C$128.43M
Montage Gold Corp. Business Overview & Revenue Model
Company Description
Headquartered in Vancouver, Canada, Montage Gold Corp. is a precious metals exploration and development firm. The company's primary focus is identifying and advancing mineral properties, with its flagship asset being the Koné Gold Project. This si...
How the Company Makes Money
Montage Gold Corp. does not have publicly available information in this context indicating that it is generating recurring revenue from producing gold or selling products/services. As an exploration and development-stage company, its potential pat...
Montage Gold Corp. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | 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 | -1.00M | -802.81K | -295.00K | -231.38K | -190.98K | -181.01K |
| EBITDA | -42.36M | -33.19M | -68.47M | -24.19M | -8.62M | -23.33M |
| Net Income | -48.43M | -50.45M | -67.66M | -24.42M | -9.78M | -23.46M |
Balance Sheet | ||||||
| Total Assets | 1.30B | 731.14M | 368.40M | 45.69M | 51.97M | 23.41M |
| Cash, Cash Equivalents and Short-Term Investments | 158.50M | 207.02M | 165.49M | 6.72M | 8.69M | 10.71M |
| Total Debt | 64.40M | 0.00 | 553.00K | 139.55K | 0.00 | 0.00 |
| Total Liabilities | 847.81M | 614.70M | 162.97M | 1.34M | 2.17M | 1.10M |
| Stockholders Equity | 419.39M | 116.64M | 205.28M | 44.34M | 49.80M | 22.31M |
Cash Flow | ||||||
| Free Cash Flow | -519.09M | -395.58M | -92.08M | -17.79M | -8.18M | -22.79M |
| Operating Cash Flow | -23.24M | -35.18M | -45.77M | -17.41M | -7.93M | -22.62M |
| Investing Cash Flow | -480.69M | -360.58M | -116.53M | 184.50K | -15.08M | -169.95K |
| Financing Cash Flow | 583.60M | 473.15M | 321.49M | 15.86M | 21.26M | 45.00K |
Montage Gold Corp. Technical Analysis
Positive
20.00
Price Trends
17.71
Positive
16.40
Positive
14.40
Positive
Market Momentum
0.45
Positive
53.82
Neutral
53.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAU, the sentiment is Positive. The current price of 20 is above the 20-day moving average (MA) of 19.51, above the 50-day MA of 17.71, and above the 200-day MA of 14.40, indicating a neutral trend. The MACD of 0.45 indicates Positive momentum. The RSI at 53.82 is Neutral, neither overbought nor oversold. The STOCH value of 53.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MAU.
Montage Gold Corp. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | C$5.05B | 12.19 | 43.77% | 0.09% | 49.49% | 73.36% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | C$4.55B | -44.11 | -15.60% | ― | 53.83% | 64.41% | |
58 Neutral | C$3.32B | -41.72 | -60.63% | ― | ― | -104.86% | |
53 Neutral | C$7.81B | -109.18 | -25.28% | ― | ― | 42.62% | |
53 Neutral | C$4.75B | 151.84 | 3.10% | ― | ― | ― | |
52 Neutral | C$2.14B | -6.33 | -85.63% | 29.41% | 67.80% | -2.37% |
* Basic Materials Sector Average
TSE:MAU
Montage Gold Corp.
19.36
13.44
227.03%
TSE:SEA
Seabridge Gold
43.73
19.58
81.08%
TSE:WDO
Wesdome Gold Mines
34.00
14.82
77.27%
TSE:SGD
Snowline Gold Corp.
17.59
6.68
61.23%
TSE:IAU
i-80 Gold Corp
2.43
1.17
92.86%
TSE:AAUC
Allied Gold Corporation
31.60
10.13
47.18%
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.