Argo Gold Inc (TSE:ARQ)
:ARQ
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Argo Gold
(ARQ)
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Rating:44Neutral
Price Target:
C$0.11
▲(18.89% Upside)
Action:Reiterated
Date:05/02/26
The score is held down primarily by weak and volatile financial performance (2025 deterioration in revenue, margins, and net income) and increased leverage, partially offset by recent positive operating cash flow. Technicals are mixed/neutral and do not provide a strong momentum tailwind, while valuation is constrained by a negative P/E and no dividend yield support in the provided data.
Positive Factors
Operating Cash Flow Strength
Sustained positive operating cash flow across 2024–2025 provides durable support for near-term exploration activity and working capital needs without immediate reliance on equity issuance. For a junior miner, recurring operating inflows improve funding optionality for drilling and project advancement even amid episodic net losses.
Negative Factors
Rising Leverage
A sharp jump in leverage cuts financial flexibility and raises solvency risk if operational performance weakens. For a junior explorer that relies on periodic financing, a higher debt burden increases interest and covenant pressures, constraining the company's ability to fund ongoing exploration or react to adverse commodity or financing conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating Cash Flow Strength
Sustained positive operating cash flow across 2024–2025 provides durable support for near-term exploration activity and working capital needs without immediate reliance on equity issuance. For a junior miner, recurring operating inflows improve funding optionality for drilling and project advancement even amid episodic net losses.
Read all positive factors
Argo Gold (ARQ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$7.21M
Dividend YieldN/A
Average Volume (3M)33.65K
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth-32.20%
EPS Growth-311.67%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding72,087,776
10 Day Avg. Volume31,354
30 Day Avg. Volume33,653
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)9.99
Price to Sales (P/S)2.85
P/FCF Ratio-144.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.34Price Target Upside277.78% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)C$1.91M
Argo Gold Business Overview & Revenue Model
Company Description
Argo Gold Inc., a development stage company, focuses on the exploration and development of mineral properties in northwestern Ontario. The company explores for gold, silver, cobalt, and zinc deposits. Its flagship project is the 100% owned Uchi go...
How the Company Makes Money
null...
Argo Gold Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.52M | 2.24M | 952.69K | 0.00 | 0.00 |
| Gross Profit | 445.12K | 1.24M | 662.99K | -3.36K | -2.14K |
| EBITDA | 346.17K | 949.88K | -25.43K | -1.44M | -2.17M |
| Net Income | -920.95K | 437.08K | -280.00K | -1.45M | -2.18M |
Balance Sheet | |||||
| Total Assets | 2.28M | 3.30M | 2.78M | 1.09M | 2.14M |
| Cash, Cash Equivalents and Short-Term Investments | 130.02K | 289.92K | 74.89K | 85.37K | 1.15M |
| Total Debt | 1.11M | 1.11M | 1.11M | 0.00 | 0.00 |
| Total Liabilities | 1.85M | 1.83M | 1.83M | 478.43K | 79.16K |
| Stockholders Equity | 432.77K | 1.47M | 949.13K | 613.73K | 2.06M |
Cash Flow | |||||
| Free Cash Flow | -29.98K | 238.17K | -1.67M | -815.06K | -1.98M |
| Operating Cash Flow | 116.07K | 952.43K | 122.01K | -807.70K | -1.98M |
| Investing Cash Flow | -156.62K | -714.26K | -1.73M | -6.92K | 673.68K |
| Financing Cash Flow | -119.35K | -23.14K | 1.68M | 0.00 | 322.00K |
Argo Gold Technical Analysis
Positive
0.09
Price Trends
0.10
Positive
0.10
Negative
0.08
Positive
Market Momentum
<0.01
Negative
51.19
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ARQ, the sentiment is Positive. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and above the 200-day MA of 0.08, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 51.19 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ARQ.
Argo Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | C$5.57M | 2.34 | ― | ― | ― | ― | |
44 Neutral | C$7.21M | -1.14 | -6.09% | ― | -32.20% | -311.67% | |
43 Neutral | C$6.80M | -7.56 | -93.08% | ― | ― | -306.96% | |
43 Neutral | C$3.81M | -34.21 | -22.19% | ― | ― | -53.57% | |
42 Neutral | C$3.64M | 15.92 | -89.21% | ― | ― | 52.00% | |
| ― | C$4.97M | -6.73 | -13.58% | ― | ― | -675.56% |
* Basic Materials Sector Average
TSE:ARQ
Argo Gold
0.10
0.02
25.00%
TSE:HVG
Harvest Gold
0.06
>-0.01
-8.33%
TSE:KGC
Kestrel Gold
0.04
0.00
0.00%
TSE:VGD
Visible Gold Mines
0.15
0.07
80.72%
TSE:GCN
Goldcliff Resource
0.05
0.02
125.00%
TSE:EDGM
Edgemont Gold Corp.
0.18
0.03
20.00%
Argo Gold Corporate Events
Business Operations and Strategy
Argo Gold Expands Land Position at Hurdman Silver-Zinc Project in Ontario
Positive
Apr 14, 2026
Argo Gold has expanded its Hurdman Silver-Zinc Project in northern Ontario by staking an additional 35 square kilometres of mineral claims, bringing its total land package to 60 square kilometres. The enlarged holding now covers known silver-zinc ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Argo Gold Posts Solid January Oil Cash Flow and Adds Advisory Strength
Positive
Mar 18, 2026
Argo Gold reported January 2026 oil production of 2,254 barrels, averaging 73 barrels per day, generating oil revenue of $129,344 and net operating cash flow of $80,891 from its interests in the Lindbergh and Lloyd fields. The company also success...
Business Operations and StrategyExecutive/Board Changes
Argo Gold Grants 4 Million Stock Options to Directors and Consultants
Positive
Mar 2, 2026
Argo Gold Inc. has granted 4,000,000 stock options to its directors and consultants, exercisable at $0.12 per share and expiring on March 1, 2029, with the resulting common shares subject to a four-month hold period from the grant date. The move e...
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.