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Steppe Gold (STGO) AI Stock Analysis
Steppe Gold
(TSX:STGO)
The score is driven primarily by strong margins, solid cash generation, and an improved but still leveraged balance sheet, indicating a sound yet somewhat cyclical financial foundation. Technicals contribute positively as the stock trades above key moving averages with firm momentum, although extended indicators and high beta heighten near-term volatility risk. A relatively low P/E versus the company’s profitability supports the rating by offering an appealing valuation, but the lack of a dividend and past earnings volatility keep the score in the upper-middle range rather than the highest tier.
Steppe Gold (STGO) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 246.76M
- Dividend Yield
- ―
- Average Volume (3M)
- 242.11K
- Price to Earnings (P/E)
- 7.2
- Beta (1Y)
- 2.55
- Revenue Growth
- 104.20%
- EPS Growth
- -43.82%
- Country
- Canada
- Employees
- 783
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Gold
Steppe Gold Business Overview & Revenue Model
Company Description
Operating within Mongolia, Steppe Gold Ltd. focuses on the acquisition, exploration, development, and production of precious metals. The company's principal endeavors include the Altan Tsagaan Ovoo (ATO) gold and silver project, which holds a single...
How the Company Makes Money
Steppe Gold primarily makes money by producing and selling gold and silver from its operations, with revenue recognized from the sale of metal produced at its ATO Gold Mine. The company’s main revenue stream is the sale of gold-silver doré (and/or re...
Steppe Gold Financial Statement Overview
Summary
Strong profitability with ~62% gross margins, healthy operating and cash earnings margins, and solid operating/free cash flow generation support a high score, while meaningful leverage, moderating growth, and a history of earnings and cash flow volatility prevent a top-tier rating.
Income Statement
78PositiveBalance Sheet
72PositiveCash Flow
75Positive| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 302.00M | 254.13M | 178.13M | 54.24M | 62.37M | 24.05M |
| Gross Profit | 186.64M | 139.17M | 96.28M | 29.41M | 30.82M | 9.65M |
| EBITDA | 146.18M | 99.68M | 109.85M | 101.59M | 26.52M | 3.68M |
| Net Income | 35.85M | 32.73M | 61.35M | 56.34M | 15.96M | -22.68M |
Balance Sheet | ||||||
| Total Assets | 382.78M | 358.38M | 352.14M | 98.29M | 72.66M | 146.28M |
| Cash, Cash Equivalents and Short-Term Investments | 126.80M | 172.08M | 144.18M | 6.01M | 2.88M | 4.07M |
| Total Debt | 174.42M | 129.47M | 187.15M | 36.05M | 9.52M | 81.50M |
| Total Liabilities | 221.03M | 215.55M | 242.08M | 50.29M | 55.44M | 139.26M |
| Stockholders Equity | 161.84M | 142.89M | 110.09M | 48.59M | 17.72M | 7.27M |
Cash Flow | ||||||
| Free Cash Flow | 91.49M | 84.59M | 67.66M | 3.14M | 12.79M | -15.95M |
| Operating Cash Flow | 143.50M | 114.33M | 81.83M | 8.20M | 18.71M | -7.04M |
| Investing Cash Flow | -65.31M | -25.95M | -11.99M | -5.23M | -5.92M | -3.88M |
| Financing Cash Flow | -63.79M | -68.43M | -37.61M | 592.00K | -13.19M | -1.47M |
Steppe Gold Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:STGO, the sentiment is Negative. The current price of 1.40 is below the 20-day moving average (MA) of 1.52, below the 50-day MA of 1.68, and below the 200-day MA of 1.54, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 35.36 is Neutral, neither overbought nor oversold. The STOCH value of 26.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:STGO.
Steppe Gold Peers Comparison
Overall Rating
- TSE:STGO78Outperform
TSE:MMY77Outperform
TSE:FDR54Neutral
TSE:MAI49Neutral
TSE:LGD42Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:STGO | 78Outperform | CAD 353.96M | 7.24 | 23.94% | ― | 104.20% | -43.82% |
| TSE:MMY | 77Outperform | CAD 244.23M | 2.54 | 35.15% | ― | 66.66% | 73.04% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| TSE:FDR | 54Neutral | CAD 913.94M | -59.79 | -8.30% | ― | ― | -51.78% |
| TSE:MAI | 49Neutral | CAD 432.20M | -301.69 | 4.79% | ― | 1140.10% | 79.14% |
| TSE:LGD | 42Neutral | CAD 1.06B | 42.73 | 37.94% | ― | ― | ― |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:STGO | Steppe Gold Ltd. | 1.40 | -0.71 | -33.65% | |
| TSE:LGD | Liberty Gold Corp. | 1.93 | 1.19 | 160.81% | |
| TSE:MAI | Minera Alamos | 3.93 | 0.13 | 3.42% | |
| TSE:MMY | Monument Mining | 0.70 | -0.20 | -22.01% | |
| TSE:FDR | Founders Metals, Inc. | 6.35 | 2.46 | 63.24% |
Steppe Gold Corporate Events
Steppe Gold Boosts Revenue, Reshapes Debt as ATO Expansion Advances
PositiveSteppe Gold reported a sharp rise in second-quarter 2026 revenue to $61.8 million, driven by higher realized gold prices and increased production, although it posted a small net loss of $0.2 million for the period. For the first half of 2026, the min...
Steppe Gold Announces Passing of Audit Committee Chair Dr. Zamba Batjargal
NegativeSteppe Gold Ltd. has announced the passing of Dr. Zamba Batjargal, Chair of the Audit Committee and an independent director since 2017, marking the loss of a key figure in its governance structure. A former Mongolian environment minister, diplomat an...
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: Aug 18, 2026