Scorpio Gold (SGLD) AI Stock Analysis

Scorpio Gold

(TSXV:SGLD)

Select Model

Rating:45Neutral

Price Target:CAD 0.23▼(-8.40% Downside)

Action:reiterated

Date:10/15/26

The score is held down primarily by weak financial performance (minimal revenue base, ongoing operating losses, and persistent negative operating/free cash flow) and bearish technical signals (price below key moving averages with negative MACD and sub-50 RSI). Valuation is only moderately supportive via a mid-range P/E and no dividend yield data, so it does not offset the operational and momentum risks.

Positive Factors

Low leverageA debt-free or minimally levered balance sheet reduces mandatory financing costs and gives Scorpio Gold more flexibility while advancing its properties. This provides greater resilience than a highly indebted explorer, although the benefit depends on preserving capital through future development spending.

Negative Factors

No operating revenueThe absence of meaningful operating revenue shows that the company has not yet established a producing cash-generating business. Persistent gross, EBIT, and EBITDA losses make funding project advancement dependent on capital resources or asset actions rather than internally generated sales.

Scorpio Gold (SGLD) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 83.08M
Dividend Yield: ―
Average Volume (3M): 591.98K
Price to Earnings (P/E): 17.9
Beta (1Y): 3.28
Revenue Growth: ―
EPS Growth: ―
Country: Canada
Employees: 0
Sector: General
Sector Strength: 55
Industry: Gold

Scorpio Gold Business Overview & Revenue Model

Company Description

Scorpio Gold Corporation, together with its subsidiaries, engages in the exploitation, exploration, and development of mineral resource properties in the United States. The company holds a 100% interest in the Manhattan District, located in the Walke...

How the Company Makes Money

Scorpio Gold’s primary economic model is to create value from gold mineral properties through exploration and, when in operation, gold production. When mining operations are active, the company generates revenue mainly from the sale of produced preci...

Scorpio Gold Financial Statement Overview

Summary

Overall fundamentals are weak: revenue is effectively zero with negative gross profit and deeply loss-making operating results (negative EBIT/EBITDA). Cash generation is a major issue with negative operating cash flow and consistently negative free cash flow. The balance sheet is a relative bright spot with low current leverage and improved equity, but it has not translated into stable operating or cash performance.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

16Very Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	0	0	0	0	0	3.24M
Gross Profit	-205.88K	-318.66K	-316.61K	0	0	-1.79M
EBITDA	-6.65M	-5.87M	-4.36M	-2.20M	-2.95M	-3.42M
Net Income	2.38M	3.11M	-15.25M	-2.27M	-2.21M	-4.68M
Balance Sheet
Total Assets	23.95M	22.19M	17.13M	14.69M	14.45M	13.79M
Cash, Cash Equivalents and Short-Term Investments	2.58M	8.34M	0	294.85K	331.90K	278.98K
Total Debt	0	507.60K	1.02M	4.47M	3.05M	450.00K
Total Liabilities	3.08M	2.87M	16.78M	11.92M	9.62M	7.33M
Stockholders Equity	20.87M	19.32M	349.09K	2.77M	4.83M	6.46M
Cash Flow
Free Cash Flow	-8.98M	-11.46M	-5.45M	-1.51M	-2.55M	-4.27M
Operating Cash Flow	-4.01M	-5.29M	-4.36M	-1.44M	-1.69M	-2.60M
Investing Cash Flow	-6.08M	-331.47K	-2.30M	130.52K	-687.56K	-1.72M
Financing Cash Flow	12.22M	13.79M	6.37M	1.27M	2.43M	450.00K

Scorpio Gold Technical Analysis

Technical Analysis SentimentNegative

Last Price0.25

Price Trends

50DMA0.29Negative

100DMA0.29Negative

200DMA0.34Negative

Market Momentum

MACD-0.01Negative

RSI42.55Neutral

STOCH29.63Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SGLD, the sentiment is Negative. The current price of 0.25 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.29, and below the 200-day MA of 0.34, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 42.55 is Neutral, neither overbought nor oversold. The STOCH value of 29.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SGLD.

Scorpio Gold Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TSE:SGLD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TSE:AE	47Neutral	CAD 181.70M	-11.11	-38.04%	―	―	-35.45%
TSE:GWM	47Neutral	CAD 91.02M	-9.89	-48.06%	―	―	0.24%
TSE:SGLD	45Neutral	CAD 83.56M	17.94	11.95%	―	―	―
TSE:ECR	42Neutral	CAD 84.77M	-48.72	-5.12%	―	―	87.43%
TSE:BLLG	40Underperform	CAD 94.83M	-18.43	-20.85%	―	―	13.27%

* General Sector Average

Performance Comparison

TSE:SGLD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:SGLD	Scorpio Gold	0.24	-0.06	-20.00%
TSE:ECR	Cartier Resources	0.19	-0.02	-9.52%
TSE:GWM	Galway Metals	0.84	0.19	29.23%
TSE:BLLG	Blue Lagoon Resources Inc	0.54	-0.15	-21.74%
TSE:AE	American Eagle Gold Corp	0.90	0.41	81.82%

Scorpio Gold Corporate Events

Business Operations and Strategy

Scorpio Gold’s Manhattan Drilling Highlights Support Resource Growth and Potential Goldwedge Restart

Positive

Oct 14, 2026

Scorpio Gold Corp. has reported new assay results from eight diamond drill holes in Phase Two of its Manhattan District Project in Nevada, highlighted by hole 26MN-124 at the Goldwedge target, which intersected 2.94 g/t gold over 36.42 metres includi...

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 15, 2026

Scorpio Gold AI Stock Analysis