First Mining Gold (FF) AI Stock Analysis

• Market Cap: C$165.29M
• Dividend Yield: N/A
• Average Volume (3M): 1.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: N/A
• EPS Growth: -158.67%
• Country: CA
• Employees: 33
• Sector: Basic Materials
• Sector Strength: 57
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 1,080,329,700
• 10 Day Avg. Volume: 1,315,932
• 30 Day Avg. Volume: 1,081,183
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -170.30
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$0.35
• Price Target Upside: 133.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

First Mining Gold faces challenges typical of development-stage mining companies, such as lack of revenue and negative cash flow. However, its strong balance sheet and recent positive corporate developments provide a foundation for potential future growth. The technical outlook is mixed, with the stock trading below short-term averages but near a key support level. The valuation reflects the company's current unprofitability. Overall, the stock is positioned for potential growth if project advancements continue as planned.

Positive Factors

Liquidity

The revised terms improve FF's liquidity through a near-term cash payment, and offer additional capital if the warrants are exercised, which should further support FF's financial position.

Project Development

The 2025 program at Duparquet marks a significant step up in scale and demonstrates First Mining’s commitment to advancing the project.

Negative Factors

Derivative Liability

The net loss was primarily driven by a C$5.0M fair value loss on FF's Silver Stream derivative liability.

Financial Performance

First Mining recorded no revenue and a net loss of about C$5.6M, or (C$0.01) per share, during the quarter.

First Mining Gold Business Overview & Revenue Model

Company Description

First Mining Gold (FF) is a Canadian gold exploration and development company focused on acquiring and advancing high-quality mineral assets in North America. The company is committed to developing its portfolio of gold projects, which include key assets such as the Springpole Gold Project and the Goldlund Gold Project, both located in Ontario, Canada. First Mining Gold's core operations involve the exploration, development, and potential production of gold resources, aiming to create value for its shareholders through strategic advancement of its projects.

How the Company Makes Money

First Mining Gold generates revenue primarily through the exploration and development of its gold properties, with an emphasis on increasing the value of these assets for eventual sale or partnership with larger mining companies. The company may engage in joint ventures, sell interests in its projects, or enter into royalty agreements to secure funding and share the risks associated with mining exploration and development. Additionally, First Mining Gold may raise capital through equity financing to support its ongoing exploration activities and operational expenditures. Revenue generation is heavily dependent on the successful advancement of its projects to stages where they become attractive for acquisition by major players in the mining sector or can commence production, thereby enabling cash flow through gold sales.

First Mining Gold Financial Statement Overview

Summary

First Mining Finance's financial statements reveal significant challenges, particularly with negative income and cash flow positions, which are typical of a company in the exploration phase. The company has no revenue and faces substantial financial pressures with persistent negative EBIT and EBITDA. The balance sheet indicates low debt but declining assets and cash reserves, posing risks. Overall, financial performance reflects the need for strategic improvements.

Income Statement

First Mining Finance's income statement reveals significant challenges, with consistently negative gross profit and net income over the years, indicating ongoing operational challenges. The company has reported zero revenue, which is typical for a mining company in exploration phases, but the persistent negative earnings before interest and taxes (EBIT) and earnings before interest, taxes, depreciation, and amortization (EBITDA) suggest substantial financial pressures. The lack of revenue growth and the negative profit margins reflect poor profitability and financial instability.

Balance Sheet

The balance sheet shows a relatively stable equity base with a declining total debt, resulting in low debt-to-equity ratios, which is a positive indicator of financial structure. However, the company's total assets have decreased slightly over time, and stockholders' equity has seen some reduction. The firm's equity ratio remains strong due to low liabilities, but the declining cash reserves and asset base present potential risks for future operations.

Cash Flow

Cash flow analysis indicates persistent negative free cash flows, primarily driven by significant capital expenditures and negative operating cash flows. Despite occasional positive financing cash flow, the free cash flow to net income ratio remains unfavorable, suggesting difficulty in generating cash from operations. The negative free cash flow growth rate underscores the ongoing cash challenges faced by the company.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-319.00K	-479.00K	-235.00K	-168.00K	-146.00K	-171.00K
	EBIT
-7.59M	-9.60M	711.00K	15.09M	23.99M	-5.89M
	EBITDA
-16.75M	-6.60M	-6.82M	-9.61M	-35.54M	-6.27M
	Net Income Common Stockholders
-42.49M	-7.04M	-15.29M	-61.88M	-34.26M	-6.96M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
7.84M	12.47M	13.74M	42.90M	47.33M	7.68M
	Total Assets
271.53M	286.07M	266.93M	260.31M	301.21M	268.02M
	Total Debt
326.00K	172.00K	315.00K	442.00K	554.00K	648.00K
	Net Debt
-5.14M	-12.04M	-13.24M	-29.07M	-28.35M	-5.25M
	Total Liabilities
50.94M	47.67M	39.26M	36.38M	57.66M	5.69M
	Stockholders Equity
220.59M	238.39M	227.67M	223.93M	243.55M	262.33M
Cash Flow		Free Cash Flow
-23.10M	-23.61M	-40.95M	-22.92M	-22.12M	-10.35M
	Operating Cash Flow
-3.48M	-5.10M	-5.08M	-6.44M	-4.22M	-4.20M
	Investing Cash Flow
-11.70M	-11.31M	-15.81M	1.85M	-12.82M	-4.31M
	Financing Cash Flow
13.93M	15.12M	4.89K	5.26M	40.34M	9.30M

First Mining Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FF, the sentiment is Positive. The current price of 0.15 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.13, and above the 200-day MA of 0.13, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 74.40 is Negative, neither overbought nor oversold. The STOCH value of 95.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FF.

First Mining Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNT	81 Outperform	C$3.12B	20.10	26.82%	―	77.93%	236.93%
ORV	74 Outperform	C$86.07M	17.03	7.12%	―	-2.98%	―
Sector *	48 Neutral	$1.91B	-1.66	-22.29%	3.86%	0.68%	-27.44%
FF	46 Neutral	C$165.29M	―	-6.34%	―	―	-158.67%
SEA	42 Neutral	$1.74B	―	-3.92%	―	―	1.89%
NVO	36 Underperform	C$37.24M	―	-145.85%	―	―	―

First Mining Gold Corporate Events

First Mining Gold Corp. Reports 2024 Financial Results and Key Project Advancements

First Mining Gold Corp. reported its financial results for 2024, highlighting a cash balance of $13.7 million and significant equity in the Pickle Crow Project. Key developments include the positive Federal Conformity Determination for the Springpole Gold Project, successful exploration drill results, and the submission of the Final Environmental Impact Statement. The company also completed significant financing activities, raising over $15 million through private and public offerings, and engaged with local First Nations for community-based assessments. These developments position First Mining Gold for potential growth and enhanced stakeholder engagement.

First Mining Gold Announces 2024 Financial Results and Key Project Milestones

First Mining Gold Corp. released its year-end 2024 financial results, highlighting a cash and investments balance of $13.7 million and a $21.5 million equity interest in the Pickle Crow Project. Key developments included positive federal conformity for the Springpole Gold Project’s final EIS, promising exploration drill results, and strategic agreements with First Nations. The company also raised significant funds through private and public offerings, supporting its ongoing exploration and development initiatives.

First Mining Gold Amends Silver Stream Agreement with First Majestic

First Mining Gold Corp. has amended its agreement with First Majestic Silver Corp. to accelerate the final payment for the Springpole Silver Stream, now set as a cash-only payment of $5 million due by March 31, 2025. This agreement also revises the terms of warrants issued to First Majestic, reducing the exercise price and extending the expiry date, reflecting confidence in the Springpole Gold Project’s development. The project is expected to significantly impact Ontario’s economy by providing jobs, government revenue, and benefits to local communities, while supporting the clean energy sector.

First Mining Gold Corp. Launches Extensive 2025 Exploration Program at Duparquet Project

First Mining Gold Corp. has announced its 2025 exploration program at the Duparquet Gold Project, marking its largest exploration drill initiative since acquiring full ownership in 2022. The company plans to undertake approximately 18,000 meters of exploration drilling, targeting resource growth and development opportunities. This program builds on previous successes and aims to further advance resource confidence and discovery-level targets across the 5,800-hectare mineral tenure. The initiative is expected to unlock new growth catalysts for the project, which is strategically located in the Abitibi gold region.

First Mining Gold Expands Opportunities at Springpole Project

First Mining Gold Corp. announced favorable results from its East Extension Phase 1 diamond drilling program at the Springpole Gold Project, highlighting the potential for expanding mineralization within the existing pit design. The results demonstrate significant potential to convert existing waste into ore, potentially reducing the strip ratio and increasing processed ore tonnes, which could enhance the project’s economic viability and sustainability.