Want to see TSE:VGZ full AI Analyst Report?
Vista Gold (VGZ) AI Stock Analysis
Vista Gold
(TSX:VGZ)
The score is held back primarily by weak financial performance (no revenue, persistent operating losses, and ongoing cash burn) and bearish technicals. Offsetting this, the latest earnings call highlighted strong Mt Todd feasibility economics and recent financing progress, which improves near-term funding flexibility but leaves execution and future dilution risks.
Vista Gold (VGZ) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 363.47M
- Dividend Yield
- ―
- Average Volume (3M)
- 146.26K
- Price to Earnings (P/E)
- -39.2
- Beta (1Y)
- 2.80
- Revenue Growth
- ―
- EPS Growth
- 7.50%
- Country
- Canada
- Employees
- 13
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Gold
Vista Gold Business Overview & Revenue Model
Company Description
Established in 1983 and based in Littleton, Colorado, Vista Gold Corp. and its affiliated companies focus on the assessment, acquisition, exploration, and advancement of gold development ventures, primarily operating in Australia. The company's most...
How the Company Makes Money
Vista Gold does not have an operating gold mine and, as a result, does not generate recurring revenue from gold sales. Its business model is centered on increasing the value of its Mt Todd gold project through technical studies, resource/reserve work...
Vista Gold Earnings Call Summary
The call emphasizes strong balance sheet improvements (cash +$35.9M, debt-free), clear execution milestones toward detailed engineering in 2027, positive technical program results, strengthened Australia-based leadership, and robust project economics (AISC $1,500/oz; $300M annual free cash flow at $3,300/oz). Offsetting these positives are higher near-term losses and operating costs driven by team additions and water management, increases in exploration and admin expenses (many >25%), ongoing permitting with final approvals expected in 2027, and operational complexity from dewatering. On balance the progress on funding, technical de-risking, permitting momentum and strong project economics outweigh the near-term cost increases and schedule/operational risks.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided that Vista is well funded to continue pre‑development with cash of $49.5M at quarter end (up from $13.6M at YE2025) following a March 2026 offering that generated ~$42M net, remains debt‑free, reported a Q2 net loss of $3.0M (Q2’25: $2.4M) and H1 net loss of $6.0M (H1’25: $5.1M), and saw exploration/holding costs rise to $2.5M in Q2’26 (Q2’25: $1.8M) and $4.2M for H1’26 (H1’25: $3.3M) while corporate admin was $850k in Q2’26 (Q2’25: $680k) and $2.5M for H1’26 (H1’25: $2.0M), partially offset by ≈$300k higher interest income; operational guidance includes permit modification submissions with additional approvals expected in H2 2026 and final approvals in 2027, commencement of detailed engineering and design in 2027 followed by an approximate 27‑month construction and commissioning period, completion of metallurgical and tailings characterization results late this quarter, phased dewatering and site works this year, zero reportable incidents in the quarter, and project economics assuming AISC $1,500/oz and a conservative gold price of $3,300/oz that yield ~USD300M annual free cash flow and a feasibility NAV per share of $14.89 (≈9× current share price).
Vista Gold Financial Statement Overview
Summary
Low leverage and essentially no debt support financial flexibility, but operating fundamentals are weak: no reported revenue, recurring negative EBIT, and consistently negative operating/free cash flow indicating ongoing cash burn and reliance on external funding or catalysts.
Income Statement
18Very NegativeBalance Sheet
66PositiveCash Flow
27Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -146.00K | -88.00K | -55.00K | -40.00K | -45.00K | -49.00K |
| EBITDA | -8.39M | -7.41M | -7.12M | -6.54M | -8.29M | -11.89M |
| Net Income | -8.54M | -7.50M | 11.25M | -6.58M | -4.93M | -15.24M |
Balance Sheet | ||||||
| Total Assets | 52.32M | 16.27M | 18.97M | 8.93M | 10.99M | 16.34M |
| Cash, Cash Equivalents and Short-Term Investments | 49.54M | 13.62M | 16.95M | 6.07M | 8.11M | 13.14M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.56M | 1.17M | 1.07M | 3.98M | 957.00K | 2.05M |
| Stockholders Equity | 50.77M | 15.11M | 17.91M | 4.95M | 10.03M | 14.29M |
Cash Flow | ||||||
| Free Cash Flow | -8.09M | -7.36M | -6.08M | -5.91M | -7.42M | -10.76M |
| Operating Cash Flow | -7.22M | -6.61M | -5.74M | -5.86M | -7.41M | -10.62M |
| Investing Cash Flow | -865.00K | -742.00K | 15.59M | 2.95M | 2.88M | 2.63M |
| Financing Cash Flow | 44.41M | 4.03M | 1.02M | 871.00K | -113.00K | 12.98M |
Vista Gold Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VGZ, the sentiment is Neutral. The current price of 3.49 is below the 20-day moving average (MA) of 3.74, below the 50-day MA of 3.51, and above the 200-day MA of 3.16, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.83 is Neutral, neither overbought nor oversold. The STOCH value of 26.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:VGZ.
Vista Gold Risk Analysis
Vista Gold disclosed 39 risk factors in its most recent earnings report. Vista Gold reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskVista Gold Peers Comparison
Overall Rating
TSE:MMY77Outperform
TSE:TRX66Neutral
TSE:RDS56Neutral- TSE:VGZ51Neutral
TSE:AUXX39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:MMY | 77Outperform | CAD 244.23M | 2.54 | 35.15% | ― | 66.66% | 73.04% |
| TSE:TRX | 66Neutral | CAD 430.11M | -14.29 | -26.91% | ― | 139.67% | -6769.23% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| TSE:RDS | 56Neutral | CAD 462.89M | -111.11 | -3.61% | ― | ― | -18.03% |
| TSE:VGZ | 51Neutral | CAD 507.93M | -39.21 | -25.50% | ― | ― | 7.50% |
| TSE:AUXX | 39Underperform | CAD 530.21M | -8.97 | -38.19% | ― | ― | -302.12% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:VGZ | Vista Gold | 3.49 | 1.25 | 55.80% | |
| TSE:TRX | Trx Gold Corporation | 1.31 | 0.49 | 59.76% | |
| TSE:MMY | Monument Mining | 0.70 | -0.20 | -22.01% | |
| TSE:RDS | Radisson Mining Resources | 0.90 | 0.22 | 32.35% | |
| TSE:AUXX | Gold X2 Mining Inc. | 5.24 | 1.94 | 58.79% |
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: Mar 24, 2026