GoGold Resources (GGD) AI Stock Analysis

• Market Cap: C$1.14B
• Dividend Yield: N/A
• Average Volume (3M): 2.58M
• Price to Earnings (P/E): 45.8
• Beta (1Y): 1.83
• Revenue Growth: 104.08%
• EPS Growth: 832.86%
• Country: CA
• Employees: 229
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.03
• Shares Outstanding: 381,195,100
• 10 Day Avg. Volume: 3,146,284
• 30 Day Avg. Volume: 2,578,973
• PEG Ratio: 0.03
• Price to Book (P/B): 1.93
• Price to Sales (P/S): 6.85
• P/FCF Ratio: 19.44
• 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$3.99
• Price Target Upside: 33.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: C$3.50 ▲(17.06% Upside)

GoGold Resources scores well due to its strong financial performance, characterized by robust revenue growth and profitability. Technical analysis supports a positive outlook with bullish momentum. However, the high P/E ratio suggests the stock may be overvalued, which slightly tempers the overall score.

Positive Factors

Revenue Growth

Sustained ~56% year-over-year revenue growth reflects expanding production and stronger metal sales from core projects. Over 2-6 months this underpins internal funding for development, validates the operating model, and supports scalable cash generation without relying on one-off events.

Very Low Leverage

Extremely low debt-to-equity provides durable financial flexibility to fund exploration and capex from equity and cash, reduces refinancing and covenant risk, and preserves strategic optionality during commodity cycles, strengthening the company's resilience over the medium term.

Strong Cash Generation

Robust FCF growth and near 1:1 conversion of net income into cash indicate effective operational cash conversion. This durable cash generation supports sustained funding of development, reduces dilution risk, and enables disciplined capital allocation across projects over coming quarters.

Negative Factors

Commodity Price Exposure

Revenue and margins are structurally tied to gold and silver prices, creating persistent earnings and cash-flow volatility. Over 2-6 months adverse price moves can materially impair project economics, constrain development funding, and force reprioritization of capital, limiting predictability.

Asset Concentration Risk

Concentration in two primary projects, both in Mexico, increases execution and jurisdictional risk. Operational disruptions, permitting delays, or local regulatory changes at either site could disproportionately affect production and cash flow, reducing diversification and elevating medium-term downside risk.

Modest Return on Equity

An ROE around 6.7% suggests limited efficiency in converting shareholder capital into profits despite strong revenue growth. Over the medium term this may constrain investor returns unless operational margins improve, capital allocation becomes more productive, or metal prices rise materially.

GoGold Resources Business Overview & Revenue Model

Company Description

GoGold Resources Inc. engages in the exploration, development, and production of gold and silver primarily in Mexico. The company holds an interest in the Parral Tailings project, which covers an area of 141 hectares located in the state of Chihuahua, Mexico. It also holds an option to acquire 100% concessions of the Los Ricos project, which covers 42 concessions with an area of approximately 22,000 hectares situated in the Jalisco State, Mexico. The company is headquartered in Halifax, Canada.

How the Company Makes Money

GoGold Resources generates revenue primarily through the extraction and sale of gold and silver from its mining operations. The company employs a business model that focuses on developing and operating mining projects, which involves significant investment in exploration, resource development, and production. Key revenue streams include the sale of refined precious metals on the open market, and the company may also benefit from strategic partnerships with other mining firms or financial institutions which can provide additional funding or resources. The fluctuating prices of gold and silver in global markets directly impact the company's earnings, making effective resource management and operational efficiency crucial for maximizing profitability.

GoGold Resources Financial Statement Overview

Summary

GoGold Resources exhibits strong financial health with substantial revenue growth and high profitability margins. The balance sheet is robust with minimal leverage, and cash flow metrics are strong, reflecting excellent cash generation and liquidity.

Income Statement

GoGold Resources has demonstrated strong revenue growth with a 56.42% increase in the latest year, indicating robust sales performance. The company maintains a healthy gross profit margin of 39.37% and a net profit margin of 23.90%, reflecting efficient cost management and profitability. The EBIT and EBITDA margins are also strong at 33.51% and 39.85%, respectively, showcasing operational efficiency.

Balance Sheet

The balance sheet is solid with a very low debt-to-equity ratio of 0.0034, indicating minimal leverage and financial risk. Return on equity is moderate at 6.73%, suggesting reasonable profitability relative to shareholder equity. The equity ratio of 90.61% highlights a strong capital structure with significant equity financing.

Cash Flow

Cash flow performance is impressive with a significant free cash flow growth rate of 85.10%, indicating strong cash generation capabilities. The operating cash flow to net income ratio of 1.14 and free cash flow to net income ratio of 0.996 suggest efficient conversion of income into cash, supporting liquidity and operational stability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	101.38M	101.38M	36.50M	30.26M	36.05M	53.23M
Gross Profit	31.90M	39.91M	12.19M	-3.95M	5.32M	24.63M
EBITDA	40.41M	40.41M	10.70M	-6.24M	6.77M	13.79M
Net Income	24.23M	24.23M	1.58M	-7.89M	692.00K	7.08M
Balance Sheet
Total Assets	397.69M	397.69M	312.43M	302.42M	264.68M	225.32M
Cash, Cash Equivalents and Short-Term Investments	141.11M	141.11M	72.03M	95.23M	73.34M	66.84M
Total Debt	1.21M	1.21M	788.00K	775.00K	1.02M	959.00K
Total Liabilities	37.42M	37.42M	27.93M	20.87M	24.35M	19.06M
Stockholders Equity	360.27M	360.27M	284.50M	281.56M	240.33M	206.26M
Cash Flow
Free Cash Flow	27.65M	35.74M	-11.88M	-8.46M	-1.18M	12.10M
Operating Cash Flow	27.75M	35.87M	-10.68M	-7.42M	-976.00K	12.38M
Investing Cash Flow	-14.66M	-18.74M	-11.20M	-14.90M	-24.70M	-19.70M
Financing Cash Flow	57.06M	79.98M	-976.00K	44.40M	32.43M	20.45M

GoGold Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.99
• 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:GGD, the sentiment is Positive. The current price of 2.99 is above the 20-day moving average (MA) of 2.93, above the 50-day MA of 2.68, and above the 200-day MA of 2.30, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 56.71 is Neutral, neither overbought nor oversold. The STOCH value of 72.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GGD.

GoGold Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASM	78 Outperform	$1.33B	39.76	14.35%	―	65.77%	458.38%
GGD	74 Outperform	C$1.14B	45.79	5.38%	―	104.08%	832.86%
ITR	71 Outperform	C$915.94M	42.53	15.43%	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NUAG	60 Neutral	C$931.77M	-192.05	-2.40%	―	―	40.00%
ABRA	41 Neutral	$1.69B	-30.23	-122.96%	―	―	-171.41%

GoGold Resources Corporate Events

GoGold Resources Reports Record Financial Results for 2025

GoGold Resources announced record financial results for the year ending September 30, 2025, with Parral revenue doubling to $72.5 million from the sale of 2.1 million silver equivalent ounces. The company reported a net income of $17 million and cash flows from operations of $26 million, with a strong outlook for 2026 due to high silver prices. With over $240 million in cash and no debt, GoGold is well-positioned to advance its Los Ricos projects, aiming to maximize shareholder value amid favorable commodity prices.

The most recent analyst rating on (TSE:GGD) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on GoGold Resources stock, see the TSE:GGD Stock Forecast page.

GoGold Resources Secures C$144 Million in Bought Deal Financing

GoGold Resources has successfully closed a C$144 million bought deal financing, issuing over 54 million units at C$2.65 each, including a 15% over-allotment option. The proceeds will be directed towards the exploration and development of the Los Ricos projects and general corporate purposes, potentially enhancing the company’s operational capabilities and market position in the precious metals sector.

The most recent analyst rating on (TSE:GGD) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on GoGold Resources stock, see the TSE:GGD Stock Forecast page.

GoGold Resources Files Final Prospectus for C$125 Million Offering

GoGold Resources has filed a final short form prospectus for a C$125 million bought deal public offering of 47,170,000 units, priced at C$2.65 per unit, with BMO Capital Markets leading the syndicate of underwriters. This offering, expected to close on November 27, 2025, includes an option for underwriters to purchase an additional 15% of the offering to cover over-allotments. The Toronto Stock Exchange has conditionally approved the offering, which is not registered under U.S. securities laws, highlighting GoGold’s strategic financial maneuvers to bolster its operations and market presence.

The most recent analyst rating on (TSE:GGD) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on GoGold Resources stock, see the TSE:GGD Stock Forecast page.

GoGold Resources Secures C$125 Million Financing for Project Expansion

GoGold Resources Inc. has announced a C$125 million bought deal financing agreement with a syndicate of underwriters led by BMO Capital Markets. The proceeds from this offering will be used for the exploration and development of the company’s Los Ricos projects and general corporate purposes. This strategic move is expected to bolster GoGold’s financial position and support its ongoing projects in Mexico, potentially enhancing its market presence and operational capabilities.

The most recent analyst rating on (TSE:GGD) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on GoGold Resources stock, see the TSE:GGD Stock Forecast page.

GoGold Resources Reports 45% Increase in Annual Production

GoGold Resources has reported a significant 45% increase in annual production, reaching 2,150,192 silver equivalent ounces for the year ending September 30, 2025. This boost in production, primarily from the Parral Tailings mine, has resulted in improved cash flow and a strong balance sheet, positioning the company well for upcoming projects, including the development of Los Ricos North and South. The increase in production and robust financial position are expected to enhance GoGold’s operational capabilities and market positioning.

The most recent analyst rating on (TSE:GGD) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on GoGold Resources stock, see the TSE:GGD Stock Forecast page.