First Mining Gold (FF) AI Stock Analysis

• Market Cap: C$208.62M
• Dividend Yield: N/A
• Average Volume (3M): 1.32M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: N/A
• EPS Growth: -158.67%
• Country: CA
• Employees: 33
• Sector: Basic Materials
• Sector Strength: 66
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 1,080,941,900
• 10 Day Avg. Volume: 1,821,652
• 30 Day Avg. Volume: 1,317,974
• PEG Ratio: -0.18
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.93
• 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: 75.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 51 Neutral
• Price Target: ―

First Mining Gold's overall score reflects its status as a development-stage mining company. The robust balance sheet and positive corporate events are significant strengths, while the lack of revenue and profitability remain key concerns. Technical analysis shows positive momentum but suggests caution due to overbought conditions. Overall, the company's future potential is tied to its successful transition from exploration to production.

Positive Factors

Exploration program

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

Financial stability

First Mining maintains a strong balance sheet as the company remains well-capitalized to continue developing projects.

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.

Negative Factors

Fair value loss

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 Corp. develops and explores for gold projects. It also explores for silver, copper, and iron ore deposits. The company primarily holds interests in the Springpole Gold Project located in northwestern Ontario. It holds a portfolio of 8 mineral assets located in Canada and the United States, as well as has an option to acquire an 80% interest in Pelangio's Birch Lake and Birch Lake West properties located in northwestern Ontario. In addition, the company holds 80% interest in Hope Brook Gold Project covering approximately 26,650 hectares located in Newfoundland and includes six mineral licenses, as well as holds interest in Cameron Project comprising of 1,789 mining claims, 24 patented claims, and 4 mining leases located in Ontario. First Mining Gold Corp. was incorporated in 2005 and is headquartered in Vancouver, Canada.

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 Gold exhibits the characteristics of a development-phase mining company with no revenue and ongoing losses. While the balance sheet is robust with low leverage, the income statement and cash flow analysis reveal significant challenges in achieving profitability and positive cash flow.

Income Statement

The company has consistently reported zero revenue over the years, which is typical for mining exploration companies in the development phase. Gross profit, EBIT, and net income are negative, indicating ongoing operational losses. The absence of revenue growth and profitability poses significant challenges.

Balance Sheet

The company maintains a solid equity base with a high equity ratio, indicating financial stability. The debt-to-equity ratio is low, reflecting minimal leverage. However, the lack of revenue generation and negative net income are concerning for future equity returns.

Cash Flow

The company consistently reports negative free cash flow, reflecting ongoing cash outflows from operations and investments typical of a development-stage mining company. While financing cash flows are positive, indicating external funding, the sustainability of cash flows remains a concern.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
-486.00K	-479.00K	-235.00K	-168.00K	-146.00K
	EBIT
-7.79M	-9.60M	711.00K	15.09M	23.99M
	EBITDA
-17.48M	-6.60M	-6.82M	-9.61M	-35.54M
	Net Income Common Stockholders
-15.31M	-7.04M	-15.29M	-61.88M	-34.26M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
13.74M	12.47M	13.74M	42.90M	47.33M
	Total Assets
294.85M	286.07M	266.93M	260.31M	301.21M
	Total Debt
221.00K	172.00K	315.00K	442.00K	554.00K
	Net Debt
-11.13M	-12.04M	-13.24M	-29.07M	-28.35M
	Total Liabilities
50.41M	47.67M	39.26M	36.38M	57.66M
	Stockholders Equity
244.44M	238.39M	227.67M	223.93M	243.55M
Cash Flow		Free Cash Flow
-25.05M	-23.61M	-40.95M	-22.92M	-22.12M
	Operating Cash Flow
-3.95M	-5.10M	-5.08M	-6.44M	-4.22M
	Investing Cash Flow
-17.87M	-11.31M	-15.81M	1.85M	-12.82M
	Financing Cash Flow
20.74M	15.12M	4.89K	5.26M	40.34M

First Mining Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 0.2 is above the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.16, and above the 200-day MA of 0.14, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 66.20 is Neutral, neither overbought nor oversold. The STOCH value of 74.44 is Neutral, 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
FF	51 Neutral	C$208.62M	―	-7.19%	―	―	-158.67%
Sector *	51 Neutral	$2.03B	-1.27	-21.09%	3.98%	2.91%	-30.50%
THM		$192.79M	―	-6.29%	―	―	―
VGZ		$126.79M	13.19	97.51%	―	―	―
TAU	55 Neutral	C$256.46M	53.85	-0.81%	―	―	12.63%
GLDG		$151.49M	―	-22.20%	―	―	―
MFG	36 Underperform	C$186.87M	―	-49.68%	―	―	17.11%

First Mining Gold Corporate Events

First Mining Gold Expands Exploration at Duparquet Project

First Mining Gold Corp. has added a second drill rig to its Duparquet Gold Project in Quebec, as part of its 2025 exploration strategy to expand and delineate mineralization. The project, located in the prolific Abitibi gold region, covers a significant land package with a compliant gold resource and benefits from existing infrastructure. The company has also engaged GRA Enterprises LLC for investor relations and marketing services, highlighting its commitment to advancing the project’s development and enhancing stakeholder engagement.

Spark’s Take on TSE:FF Stock

According to Spark, TipRanks’ AI Analyst, TSE:FF is a Neutral.

First Mining Gold’s overall score reflects the challenges and opportunities typical for a development-stage mining company. The strong balance sheet and recent positive corporate events indicate potential for future growth, but the lack of revenue and profitability are significant concerns. The technical analysis shows positive momentum but suggests caution due to overbought conditions. The valuation is not attractive due to negative earnings, yet the company’s strategic progress offers some optimism.

To see Spark’s full report on TSE:FF stock, click here.

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.