Athena Gold (TSE:ATHA)
:ATHA
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Athena Gold
(ATHA)
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Rating:53Neutral
Price Target:
C$0.07
▲(1.43% Upside)
Action:ReiteratedDate:01/14/26
The score is held back primarily by weak fundamentals: no revenue history and ongoing cash burn despite a cleaner, low-debt balance sheet. Technicals are supportive with price above major moving averages and positive MACD, while valuation looks modest on P/E but is less dependable given early-stage, volatile profitability.
Positive Factors
Low leverage / conservative balance sheet
Consistently minimal debt materially reduces financial risk and interest burden, giving the company durable funding flexibility. For an exploration-stage miner this structural balance-sheet strength improves access to capital, supports JV negotiations, and cushions project timelines.
Negative Factors
No revenue history
Absence of revenue confirms a pre-production explorer with no operating cash inflows. Structurally this raises project-economic uncertainty, prevents self-funding of development, and makes progress and returns contingent on successful discoveries and continual external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservative balance sheet
Consistently minimal debt materially reduces financial risk and interest burden, giving the company durable funding flexibility. For an exploration-stage miner this structural balance-sheet strength improves access to capital, supports JV negotiations, and cushions project timelines.
Read all positive factors
Athena Gold (ATHA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$13.05M
Dividend YieldN/A
Average Volume (3M)76.85K
Price to Earnings (P/E)21.3
Beta (1Y)-0.51
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees1
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)<0.01
Shares Outstanding35,820,060
10 Day Avg. Volume51,343
30 Day Avg. Volume76,848
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)8.93
Price to Sales (P/S)0.00
P/FCF Ratio-77.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Athena Gold Business Overview & Revenue Model
Company Description
Athena Gold Corporation, an exploration stage company, engages in the acquisition and exploration of mineral resources in the United States. Its flagship property is its 100% owned the Excelsior Springs project comprising 2 EX and 88 ES contiguous...
How the Company Makes Money
null...
Athena Gold Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -147.29K | 0.00 | 0.00 | -1.30M | -752.00K | -277.00K |
| Net Income | -153.31K | -637.00K | 612.75K | -684.00K | -1.03M | -410.00K |
Balance Sheet | ||||||
| Total Assets | 7.58M | 6.99M | 6.74M | 6.24M | 6.12M | 158.99K |
| Cash, Cash Equivalents and Short-Term Investments | 1.29M | 618.40K | 2.81K | 15.07K | 72.82K | 8.99K |
| Total Debt | 102.47K | 103.42K | 0.00 | 106.21K | 0.00 | 43.95K |
| Total Liabilities | 763.57K | 838.00K | 423.16K | 1.28M | 1.07M | 244.68K |
| Stockholders Equity | 6.82M | 6.15M | 6.32M | 4.96M | 5.05M | -85.70K |
Cash Flow | ||||||
| Free Cash Flow | -931.64K | -711.05K | -696.22K | -956.05K | -656.64K | -197.44K |
| Operating Cash Flow | -886.64K | -666.05K | -696.22K | -926.83K | -656.64K | -197.44K |
| Investing Cash Flow | 49.23K | 26.24K | 0.00 | -29.21K | 0.00 | 0.00 |
| Financing Cash Flow | 1.35M | 879.08K | 683.95K | 898.30K | 720.48K | 208.88K |
Athena 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% | |
53 Neutral | C$13.05M | 21.30 | 19.89% | ― | ― | ― | |
49 Neutral | C$12.93M | -3.82 | -5.72% | ― | ― | -14.51% | |
| ― | C$26.72M | 6.58 | 6.24% | ― | ― | -970.00% | |
53 Neutral | C$19.19M | 1.18 | 593.89% | ― | ― | ― | |
51 Neutral | C$21.91M | -2.45 | 6.43% | ― | ― | -90.32% | |
51 Neutral | C$13.28M | -44.79 | -56.83% | ― | ― | -221.30% |
* Basic Materials Sector Average
TSE:ATHA
Athena Gold
0.49
-0.05
-9.19%
TSE:ENDR
Enduro Metals
0.17
0.04
27.82%
TSE:NOB
Noble Mineral Exploration
0.11
0.06
133.33%
TSE:RRI
Riverside Resources
0.24
0.09
59.86%
TSE:SNG
Silver Range Resources
0.14
0.06
68.75%
TSE:SAE
Sable Resources
0.06
0.03
100.00%
Athena Gold Corporate Events
Business Operations and StrategyM&A Transactions
Athena Gold Closes Forester Acquisition, Expands Ontario Gold Footprint
Positive
Mar 13, 2026
Athena Gold has completed the acquisition of the Forester Gold Project in northwestern Ontario by purchasing all shares of private firm Last Bounty Gold in an all-share deal, issuing 42 million Athena shares, or about 12% of the company on a non-d...
Business Operations and Strategy
Athena Gold Secures Permits and First Nation Pact for 5,000 m Drill Program at Laird Lake
Positive
Mar 2, 2026
Athena Gold has secured permits for a fully funded, 5,000-metre maiden diamond drill program at its Laird Lake project in Ontario’s Red Lake Gold District, with mobilization planned in the coming weeks. The program, comprising eight to ten h...
Business Operations and StrategyM&A Transactions
Athena Gold to Acquire Underexplored Forester Project Near Musselwhite Mine
Positive
Feb 26, 2026
Athena Gold Corporation has agreed to acquire 100% of the Forester Gold Project in northwestern Ontario through a low-cost, all-share transaction, adding a 4,900-hectare land package located less than 30 km from Orla Mining’s Musselwhite min...
Business Operations and Strategy
Athena Gold to Highlight North American Projects at PDAC 2026
Positive
Feb 25, 2026
Athena Gold Corporation will showcase its exploration portfolio at Booth 2149 during the PDAC 2026 convention in Toronto, a major global gathering for the mineral exploration and mining industry. By participating in this high-profile event, the co...
Business Operations and Strategy
Athena Gold Updates Exploration at Nevada and Ontario Projects as Drilling Advances and Permits Awaited
Positive
Feb 5, 2026
Athena Gold reported an exploration update from its Excelsior Springs Project in Nevada and Laird Lake Project in Ontario, highlighting new shallow high-grade gold intercepts and evidence of a potentially large-scale Carlin-style mineral system al...
Business Operations and Strategy
Athena Gold to Court Investors at 2026 Vancouver Resource Investment Conference
Positive
Jan 19, 2026
Athena Gold Corporation has announced its participation in the 2026 Vancouver Resource Investment Conference, where it will host investors at Booth 212 as part of efforts to raise its profile within the junior mining investment community. By showc...
Business Operations and StrategyPrivate Placements and Financing
Athena Gold Raises C$3.5 Million, Fully Funding Drilling Programs in Ontario
Positive
Dec 19, 2025
Athena Gold Corporation has closed the third and final tranche of its non-brokered private placement, bringing total gross proceeds to approximately C$3.5 million and fully funding its upcoming drilling programs. The financing, structured through ...
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.