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The latest announcement is out from Artemis Gold ( (TSE:ARTG) ).
Artemis Gold reported record fourth-quarter 2025 production of 68,480 ounces of gold at its Blackwater Mine, lifting full-year output to 192,808 ounces in the operation’s first year. The strong quarterly performance was driven by higher mill feed grades and improved recoveries, while plant availability recovered to over 93% in December after addressing design and construction deficiencies linked to the former EPC contractor. For 2026, the company forecasts production of 265,000 to 290,000 ounces of gold at all-in sustaining costs of US$925 to US$1,025 per ounce, positioning Blackwater among the lowest-cost gold operations globally and supporting robust margins at current gold prices. Artemis is advancing a Phase 1A expansion to lift nameplate mill capacity from 6 Mtpa to 8 Mtpa by late 2026 and the larger Expanded Phase 2 project to increase throughput to 21 Mtpa and annual production to more than 500,000 ounces by the end of 2028, a growth plan that would more than triple current processing capacity and establish Blackwater as one of the three largest single gold mines in Canada.
The most recent analyst rating on (TSE:ARTG) stock is a Hold with a C$38.00 price target. To see the full list of analyst forecasts on Artemis Gold stock, see the TSE:ARTG Stock Forecast page.
Spark’s Take on TSE:ARTG Stock
According to Spark, TipRanks’ AI Analyst, TSE:ARTG is a Neutral.
The score is driven primarily by improving financial performance (strong TTM margins and operating cash flow) but tempered by negative free cash flow and increased leverage. Technicals are supportive but neutral in momentum, while valuation is a headwind due to a high P/E and no dividend yield. Positive corporate developments around Blackwater expansion and operations provide an additional lift, with execution/capex scale remaining the key risk.
To see Spark’s full report on TSE:ARTG stock, click here.
More about Artemis Gold
Artemis Gold Inc. is a Canadian gold mining company focused on the development and operation of the Blackwater Mine in central British Columbia. The company operates in the precious metals sector, producing gold through large-scale open-pit mining and milling, with a strategic emphasis on low-cost, high-margin production and significant capacity expansion to position Blackwater among the largest single gold mines in Canada.
Average Trading Volume: 407,557
Technical Sentiment Signal: Buy
Current Market Cap: C$9.02B
Learn more about ARTG stock on TipRanks’ Stock Analysis page.