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Cabral Gold Inc (TSE:CBR)
:CBR

Cabral Gold (CBR) AI Stock Analysis

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TSE:CBR

Cabral Gold

(CBR)

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Neutral 53 (OpenAI - 5.2)
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Neutral 53 (OpenAI - 5.2)
,
Neutral 53 (OpenAI - 5.2)
Rating:53Neutral
Price Target:
C$1.00
▲(25.00% Upside)
Action:ReiteratedDate:03/17/26
The score is held back primarily by weak financial performance (no revenue, recurring losses, and persistent negative free cash flow), partially offset by a low-debt balance sheet. Technicals are a clear positive with a strong uptrend and supportive momentum, while valuation is constrained by negative earnings and no dividend data.
Positive Factors
Low financial leverage
Very low debt materially reduces solvency and interest-cost risk over the medium term. For an exploration-stage miner this preserves optionality to endure capital-raising cycles, supports flexibility in structuring JV or offtake deals, and limits bankruptcy probability while projects are de-risked.
Concentrated asset position
A focused land package in the Tapajós gold district gives the company scalable optionality: concentrated exploration and resource-definition work can produce material resource growth if drilling is successful. Structured technical and economic studies signal a methodical path toward project development.
Improving FCF trends
Although free cash flow remains negative, observed improvements in multiple years indicate management can reduce cash burn or better sequence expenditures. If sustained, this trend lowers near-term financing frequency, reduces dilution risk, and strengthens project advancement capacity over several quarters.
Negative Factors
No operating revenue
The company is pre-revenue, so it lacks internally generated operating cash flows to fund exploration or development. This structural absence of revenue means long-term value creation depends entirely on discovery conversion, successful permitting and capital markets access, raising execution and dilution risk.
Persistent negative cash flow
Consistent annual cash burn forces reliance on external financing for ongoing exploration and studies. Over a multi-quarter horizon this increases the probability of frequent equity raises or asset dilution, constrains the ability to self-fund development and can pressure project timelines if markets tighten.
Volatile, negative returns
Material ROE volatility and recent deep negatives imply earnings are driven by non-operating items and not by durable value creation. This undermines confidence in the company’s capacity to generate shareholder returns from operations and increases dependence on external capital and risky monetization paths.

Cabral Gold (CBR) vs. iShares MSCI Canada ETF (EWC)

Cabral Gold Business Overview & Revenue Model

Company DescriptionCabral Gold Inc. operates as a mineral exploration and development company with primary focus on gold properties in Brazil. Its flagship project is the Cuiú Cuiú gold project located in the state of Para in northern Brazil. Cabral Gold Inc. was formerly known as San Angelo Oil Limited. Cabral Gold Inc. is based in Vancouver, Canada.
How the Company Makes MoneyCabral Gold does not have publicly available, consistent information indicating ongoing operating revenue from gold production or other commercial operations; its activities are primarily exploration and project advancement. As a result, the company’s funding is typically associated with raising capital (e.g., equity financings) to finance exploration, engineering, and corporate activities rather than earning material revenue from product sales. Any future monetization would generally be expected to come from (a) developing and operating a mine to sell gold (and potentially by-products, if applicable), (b) selling project interests or mineral properties, (c) forming joint ventures/partnerships where another party funds development in exchange for an interest, or (d) selling a royalty/streaming interest; however, specific active revenue-generating arrangements, production sales, or definitive commercial partnership terms are not available here and are therefore null.

Cabral Gold Financial Statement Overview

Summary
Financials reflect an exploration-stage profile: revenue is consistently 0, operating losses persist, and free cash flow is negative every year (ongoing cash burn and funding reliance). The main positive is very low leverage, which reduces near-term balance sheet risk.
Income Statement
12
Very Negative
The company is still pre-revenue (revenue is 0 across the annual periods provided), and profitability remains weak with consistently negative gross profit and large operating losses. Net income has been volatile—profitable in 2023 but back to sizable losses in 2024 and 2025—suggesting results are driven by non-operating items rather than a durable earnings base. Overall, the income statement reflects an exploration-stage profile with limited visibility to sustainable margins.
Balance Sheet
48
Neutral
Leverage is very low (total debt is minimal to zero in most years), which reduces financial risk. However, equity and assets fluctuate meaningfully over time, and returns on equity are mostly negative (with a sharp swing from positive in 2023 to deeply negative again in 2024–2025), highlighting ongoing losses and potential dependence on external funding. The balance sheet is conservatively levered, but value creation and stability remain concerns.
Cash Flow
18
Very Negative
Cash generation is weak: operating cash flow and free cash flow are negative every year shown, indicating persistent cash burn. Free cash flow has improved in some years (positive growth rates in 2022, 2023, and 2025), but it remains materially negative, implying continued funding needs. Overall cash flow quality is pressured by the lack of operating inflows and ongoing investment/spend requirements.
BreakdownTTMDec 2025Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-233.18K-128.93K-578.43K-656.81K-629.87K-372.37K
EBITDA-12.88M-15.20M-6.70M-4.52M-9.49M-10.84M
Net Income-13.10M-15.33M-7.28M1.12M-10.35M-11.21M
Balance Sheet
Total Assets15.11M15.11M6.08M8.63M6.30M9.53M
Cash, Cash Equivalents and Short-Term Investments8.05M8.05M1.77M3.90M1.41M4.90M
Total Debt0.000.000.0014.83K1.09M38.90K
Total Liabilities1.78M1.78M582.60K576.97K2.82M908.84K
Stockholders Equity13.33M13.33M5.50M8.06M3.48M8.62M
Cash Flow
Free Cash Flow-13.56M-11.85M-6.97M-5.44M-8.39M-11.14M
Operating Cash Flow-11.27M-9.66M-6.40M-5.10M-7.67M-9.08M
Investing Cash Flow-2.29M-2.19M-573.35K-343.93K-615.99K-2.06M
Financing Cash Flow20.33M18.23M4.76M7.98M4.73M10.63M

Cabral Gold Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.80
Price Trends
50DMA
0.82
Positive
100DMA
0.73
Positive
200DMA
0.57
Positive
Market Momentum
MACD
0.10
Negative
RSI
63.73
Neutral
STOCH
66.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CBR, the sentiment is Positive. The current price of 0.8 is below the 20-day moving average (MA) of 0.93, below the 50-day MA of 0.82, and above the 200-day MA of 0.57, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 63.73 is Neutral, neither overbought nor oversold. The STOCH value of 66.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CBR.

Cabral Gold Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
C$199.21M8.3221.93%145.27%
64
Neutral
C$152.11M11.0023.36%379.90%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
55
Neutral
C$211.56M-6.50-30.36%-6.54%
53
Neutral
C$287.98M-7.55-119.43%-9300.00%
49
Neutral
C$179.08M-18.94-5.92%-7.14%
44
Neutral
C$138.58M-7.19
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:CBR
Cabral Gold
1.09
0.73
198.63%
TSE:GG
Golconda Gold
2.79
2.47
771.88%
TSE:NCAU
Newcore Gold
0.63
0.05
8.62%
TSE:XTG
Xtra-Gold Resource
3.28
1.18
56.19%
TSE:OMI
Orosur Mining
0.35
0.15
75.00%
TSE:RVG
Revival Gold
0.78
0.45
134.85%

Cabral Gold Corporate Events

Business Operations and Strategy
Cabral Gold Hits Bonanza-Grade Intercept at Jerimum Cima in Brazil
Positive
Mar 12, 2026

Cabral Gold reported exceptional new diamond drill results from the Jerimum Cima target at its Cuiú Cuiú Gold District in Brazil, including an intercept of 9.5 meters grading 87.4 grams per tonne gold, with a higher-grade sub-interval of 2.9 meters at 285.5 grams per tonne in hole DDH372. Management highlighted that these are among the strongest grades ever drilled in the district and that the high-grade zone is likely part of a larger mineralized system not yet included in the company’s current resource base.

The company said the results point to a central, very high-grade core at Jerimum Cima surrounded by lower-grade stockwork mineralization within a mineralized corridor up to 200 meters wide and extending at least 750 to 900 meters along strike, remaining open to the east and at depth. Ongoing and planned drilling will focus on defining the size and continuity of both the near-surface gold-in-oxide cap and the underlying primary mineralization, a strategy that could materially expand the project’s resource potential and enhance Cabral’s positioning within the emerging Cuiú Cuiú gold camp.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Cabral Gold Wins Key Brazilian Permit for Full Mining License at Cuiú Cuiú
Positive
Mar 10, 2026

Cabral Gold has secured the key Licença Prévia (LP) for a full mining license at its Cuiú Cuiú gold district in Pará, Brazil, marking a major permitting milestone for the project. The LP, issued by the Pará state environmental council, validates the project’s environmental and social foundations following fully approved public hearings in Cuiú Cuiú and Itaituba.

With the LP in place, Cabral can pursue expansion of its Phase 1 gold-in-oxide operation, now under construction, from 500,000 tonnes per year under existing trial licenses toward a planned 1 million tonnes per year plant capacity and beyond. The approval also significantly de-risks the larger Phase 2 hard rock mine development by clarifying the path to securing installation and operating licenses, materially reducing permitting risk and enhancing the project’s long-term value potential.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.88 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and Strategy
Cabral Gold Keeps Cuiú Cuiú Heap Leach Project on Budget and Track for Late-2026 Gold Output
Positive
Mar 5, 2026

Cabral Gold reports that construction of its Phase 1 gold-in-oxide heap leach project at the Cuiú Cuiú Gold District in Brazil is 54% complete, with 71% of project costs committed and more than 90% of major equipment procurement finalized. The project remains on budget and on schedule for plant commissioning in the third quarter of 2026 and commercial production in the fourth quarter of 2026, underpinning the company’s transition from explorer to producer.

Engineering work, including detailed designs for wet systems and geotechnical studies for waste facilities, is progressing ahead of plan, reducing risk to the project’s critical path. Long-lead items such as the ADR plant and ROM ore bin are in advanced stages of fabrication, while expenditures continue to track the existing pre-feasibility study assumptions.

Cabral highlights strong safety performance, with 93,625 work hours logged in 2026 without a lost-time incident and 283 employees and contractors currently on site. The workforce is entirely Brazilian, with 70% from the state of Pará, underscoring the project’s local economic impact and potentially bolstering community and regulatory support.

Infrastructure development is also well advanced, with the permanent mine camp and project offices under construction alongside a new private airstrip and accommodation capacity for 136 personnel targeted for completion by the end of March 2026. In-fill drilling of the MG oxide starter pit is 75% complete and will support detailed mine design for mining start-up in mid-2026, aligning mine preparation with the plant’s commissioning timeline.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.88 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and Strategy
Cabral Gold Extends Jerimum Cima Mineralized Zone With High-Grade Drill Hits in Brazil
Positive
Jan 26, 2026

Cabral Gold reported strong new diamond drill results from the Jerimum Cima target at its Cuiú Cuiú Gold District in Brazil, including intercepts of 9.5 metres grading 5.74 g/t gold and 3.8 metres grading 10.80 g/t gold, which have extended the main east–west mineralized zone by at least 175 metres to the east and increased its traced strike length to 750 metres, with the zone remaining open. The drilling also identified several previously unrecognized narrow high‑grade structures both southeast and on the western margin of the main zone, reinforcing management’s view that Jerimum Cima hosts both a significant gold‑in‑oxide blanket and a substantial underlying primary gold system within a major fault corridor, and supporting plans for further drilling, detailed drone‑based magnetic surveys, and the potential calculation of an initial resource in the area.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.80 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Cabral Gold Names Industry Veteran Jon Gilligan as Non-Executive Chair to Steer Cuiú Cuiú Development
Positive
Jan 21, 2026

Cabral Gold has appointed veteran mining executive Dr. Jon Gilligan as non-executive chair, strengthening its leadership as it advances construction of the Phase 1 heap leach operation at its Cuiú Cuiú gold project in northern Brazil. Gilligan, who has more than four decades of global open-pit and heap-leach mining experience and currently leads Liberty Gold, has already contributed to Cabral’s growth through the establishment of a technical committee guiding the Cuiú Cuiú Phase 1 development, and his elevation to chair is intended to support the company’s push toward initial production later this year while emphasizing safety, disciplined execution, strong governance, and community engagement to unlock the broader district-scale potential for shareholders and local communities.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.80 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Cabral Gold Names Industry Veteran Jon Gilligan as Non-Executive Chair Amid Heap Leach Build-Out
Positive
Jan 21, 2026

Cabral Gold has appointed veteran mining executive Dr. Jon Gilligan as non-executive chair, strengthening the company’s leadership as it advances construction of its Phase 1 heap leach gold operation at the Cuiú Cuiú district in Brazil. Gilligan, who joined Cabral’s board in 2023 and has over 40 years’ global open-pit and heap leach mining experience with firms including Liberty Gold, Torex Gold, SSR Mining and BHP, has played a key role in establishing a technical committee that is guiding the current project build. Management highlighted that heap leach construction is progressing in Brazil with a clear path to initial production later this year, and indicated that Gilligan’s appointment is intended to reinforce governance, operational discipline and community engagement while the company seeks to pair near-term production with exploration aimed at realizing Cuiú Cuiú’s broader district-scale potential and long-term value creation for shareholders and local communities.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.80 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and Strategy
Cabral Gold Extends Machichie Main Mineralization and Discovers New Zone at Cuiú Cuiú
Positive
Jan 15, 2026

Cabral Gold reported new drill results from the Machichie Main gold deposit in Brazil’s Cuiú Cuiú district, where recent diamond and reverse circulation holes have both extended the main mineralized zone at depth and confirmed its continuity, including higher-grade intercepts such as 5 metres at 4.70 g/t gold and 6 metres at 1.78 g/t gold. The company also announced the discovery of a previously unrecognized mineralized zone about 100 metres south of Machichie Main that remains open in multiple directions, and said that construction of its Phase 1 gold-in-oxide heap-leach project is progressing ahead of plan, with exploration drilling being ramped up and an additional rig expected in February to support the definition of an initial hard-rock resource and further resource growth across the district.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.81 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and Strategy
Cabral Gold Extends Machichie Main Mineralization and Discovers New Gold Zone at Cuiú Cuiú
Positive
Jan 15, 2026

Cabral Gold has reported encouraging new drill results from the Machichie Main gold deposit at Cuiú Cuiú, including down-dip extensions of the main mineralized zone and the discovery of a previously unrecognized gold zone located about 100 metres south of Machichie Main, which remains open laterally and at depth. These results, combined with the resumption and ramp-up of drilling, the planned addition of a fourth drill rig, and continued construction progress on the Phase 1 gold-in-oxide heap-leach project, reinforce the potential for resource growth at Cuiú Cuiú and support Cabral’s efforts to define an initial hard-rock resource at Machichie Main while advancing toward near-term production.

The most recent analyst rating on (TSE:CBR) stock is a Hold with a C$0.81 price target. To see the full list of analyst forecasts on Cabral Gold stock, see the TSE:CBR Stock Forecast page.

Business Operations and StrategyDelistings and Listing ChangesProduct-Related Announcements
Cabral Gold Advances Construction of Phase 1 Cuiú Cuiú Gold Project, Eyes 2026 Production
Positive
Dec 17, 2025

Cabral Gold has provided a construction update regarding its ongoing Phase 1 heap leach project in Brazil, reporting progress in detailed engineering, procurement, and infrastructure development, all on schedule and budget for commercial production in Q4 2026. Additionally, the company upgraded its listing to the OTCQX market in the US, signaling improved market positioning and commitment to operational expansion, potentially benefiting both stakeholders and the local Brazilian workforce employed in the project.

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.Date of analysis: Mar 17, 2026