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P2 Gold
(PGLD)
Select Model
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Rating:52Neutral
Price Target:
C$1.50
▲(21.95% Upside)
Action:Reiterated
Date:10/02/26
The score is held down primarily by weak financial performance (pre-revenue profile, ongoing losses, and consistent cash burn), which increases financing/dilution risk despite a healthier balance sheet. Offsetting this, technicals are relatively strong with price above key moving averages and positive momentum. Valuation remains challenging to assess due to negative earnings and no dividend support.
Positive Factors
Improved balance sheet
The stronger TTM capital position and minimal reported debt reduce near-term solvency pressure and give P2 Gold more financial flexibility than in prior periods. This does not eliminate funding needs, but it provides a healthier base for advancing exploration and technical work.
Negative Factors
Pre-revenue business model
The absence of recurring revenue shows that P2 Gold has not reached a producing or self-sustaining operating stage. Its financial progress therefore depends on advancing mineral assets toward a future transaction or mine, leaving current results exposed to development timing and funding requirements.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet
The stronger TTM capital position and minimal reported debt reduce near-term solvency pressure and give P2 Gold more financial flexibility than in prior periods. This does not eliminate funding needs, but it provides a healthier base for advancing exploration and technical work.
Read all positive factors
P2 Gold (PGLD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$447.49M
Dividend YieldN/A
Average Volume (3M)468.37K
Price to Earnings (P/E)―
Beta (1Y)2.37
Revenue GrowthN/A
EPS Growth-2078.18%
CountryCA
Employees5
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.11
Shares Outstanding292,474,580
10 Day Avg. Volume499,155
30 Day Avg. Volume468,370
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)50.01
Price to Sales (P/S)0.00
P/FCF Ratio-38.58
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)-0.06
Revenue Forecast (FY)N/A
P2 Gold Business Overview & Revenue Model
Company Description
P2 Gold Inc. operates as an emerging mining firm, dedicated to securing, exploring, and developing mineral assets throughout Canada and the United States. Its core exploration activities target deposits rich in gold, copper, silver, lead, and zinc...
How the Company Makes Money
P2 Gold is an exploration-stage company, and publicly available information does not indicate recurring operating revenue from selling metals or providing services. Its primary economic model is to create value by acquiring mineral rights and then...
P2 Gold Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
55
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -22.38K | -24.16K | -36.25K | -164.00K | -151.00K | -129.00K |
| EBITDA | -19.07M | -4.54M | 4.29M | -6.09M | -14.70M | -27.58M |
| Net Income | -25.60M | -10.09M | 4.15M | -4.46M | -12.94M | -27.39M |
Balance Sheet | ||||||
| Total Assets | 17.13M | 11.13M | 685.10K | 310.64K | 2.41M | 8.45M |
| Cash, Cash Equivalents and Short-Term Investments | 16.38M | 10.32M | 539.95K | 46.61K | 1.47M | 7.80M |
| Total Debt | 504.55K | 7.50M | 2.36M | 545.00K | 133.45K | 251.07K |
| Total Liabilities | 2.37M | 8.85M | 2.89M | 9.67M | 12.25M | 12.90M |
| Stockholders Equity | 14.76M | 2.28M | -2.21M | -9.36M | -9.83M | -4.45M |
Cash Flow | ||||||
| Free Cash Flow | -13.61M | -2.96M | -1.64M | -4.70M | -13.39M | -7.69M |
| Operating Cash Flow | -13.60M | -2.96M | -1.64M | -4.70M | -13.30M | -7.61M |
| Investing Cash Flow | 824.87K | 32.29K | 1.83K | -98.00 | 70.98K | -223.04K |
| Financing Cash Flow | 28.64M | 12.31M | 2.13M | 3.27M | 6.90M | 14.00M |
P2 Gold Technical Analysis
Positive
1.23
Price Trends
1.17
Positive
0.97
Positive
0.87
Positive
Market Momentum
0.09
Negative
64.97
Neutral
82.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PGLD, the sentiment is Positive. The current price of 1.23 is below the 20-day moving average (MA) of 1.32, above the 50-day MA of 1.17, and above the 200-day MA of 0.87, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 64.97 is Neutral, neither overbought nor oversold. The STOCH value of 82.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PGLD.
P2 Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$297.84M | 11.54 | 33.47% | ― | 47.74% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | C$220.66M | -38.26 | -3.37% | ― | ― | -106.53% | |
52 Neutral | C$447.49M | -14.21 | -284.95% | ― | ― | -2078.18% | |
46 Neutral | C$143.11M | -5.91 | -69.66% | ― | ― | -0.41% | |
43 Neutral | C$77.75M | -6.65 | -45.78% | ― | ― | -361.40% | |
41 Neutral | C$82.21M | -3.91 | 215.19% | ― | -50.78% | -2.27% |
* Basic Materials Sector Average
TSE:PGLD
P2 Gold
1.51
1.23
439.29%
TSE:CKG
Chesapeake Gold
2.90
0.22
8.21%
TSE:OCG
Outcrop Gold Corp
0.29
-0.07
-19.44%
TSE:ORV
Orvana Minerals
2.17
1.45
201.39%
TSE:NVRO
EnviroGold Global
0.16
-0.02
-8.82%
TSE:SGO
Sonoro Gold
0.18
-0.03
-12.50%
P2 Gold Corporate Events
Business Operations and Strategy
P2 Gold Advances Gabbs Feasibility Study and Ups Mill Throughput Plan
Positive
Sep 21, 2026
P2 Gold has confirmed that feasibility work at its Gabbs gold-copper project is on schedule, with an updated mineral resource for the Sullivan, Lucky Strike and Car Body zones expected in the fourth quarter of 2026 and a full feasibility study tar...
Business Operations and Strategy
P2 Gold Advances Gabbs Project With Strong Car Body Metallurgy and Feasibility Progress
Positive
Aug 25, 2026
P2 Gold reported metallurgical test results from the Car Body Zone at its Gabbs Project, showing rapid and strong gold recoveries of up to 95.6% over 73 days from oxide column leach tests. Complementary diamond drilling at Car Body delivered near-...
Business Operations and Strategy
P2 Gold Hits Long High-Grade Intervals as Gabbs Drilling Thickens Lucky Strike Mineralization
Positive
Aug 12, 2026
P2 Gold reported significant drill results from ten reverse circulation and four diamond holes at the Lucky Strike Zone on its Gabbs Project in Nevada, including one of the longest high-grade gold-copper intervals and the thickest mineralized inte...
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.