G Mining Ventures (TSE:GMIN)
TSX:GMIN
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G Mining Ventures
(TSX:GMIN)
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Rating:73Outperform
Price Target:
C$52.00
▼(-7.52% Downside)
Action:UpgradedDate:04/16/26
The score is driven primarily by strong 2025 financial performance and a low-leverage balance sheet, supported by clear bullish technical trend and momentum. It is held back by a relatively full valuation (P/E ~23) and the still-developing track record of consistent free cash flow.
Positive Factors
Revenue Growth & Profitability
The company delivered materially higher revenues and very strong gross and net margins in 2025, reflecting successful scale-up toward commercial production. Durable impact: higher earnings power supports reinvestment, working capital coverage and a clearer path to sustained operating cash generation if production consistency holds.
Negative Factors
Cash Flow Volatility
Historic swings between negative and positive free cash flow indicate the company’s cash conversion is not yet stable. Durably, volatile FCF complicates capital allocation, heightens rollover and liquidity risk, and makes consistent funding of sustaining capex and debt servicing more uncertain across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Profitability
The company delivered materially higher revenues and very strong gross and net margins in 2025, reflecting successful scale-up toward commercial production. Durable impact: higher earnings power supports reinvestment, working capital coverage and a clearer path to sustained operating cash generation if production consistency holds.
Read all positive factors
G Mining Ventures (GMIN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.19B
Dividend YieldN/A
Average Volume (3M)905.40K
Price to Earnings (P/E)23.4
Beta (1Y)2.01
Revenue Growth301.50%
EPS Growth1151.14%
CountryCA
Employees1,157
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.53
Shares Outstanding237,672,400
10 Day Avg. Volume865,093
30 Day Avg. Volume905,399
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)4.83
Price to Sales (P/S)11.59
P/FCF Ratio60.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$63.25Price Target Upside12.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)1.82
Revenue Forecast (FY)C$776.38M
G Mining Ventures Business Overview & Revenue Model
Company Description
G Mining Ventures Corp. engages in the acquisition, exploration, evaluation, and development of mineral properties. Its flagship project is the Tocantinzinho gold project that includes two mining concessions covering an area of 12,889 hectares, 23...
How the Company Makes Money
G Mining Ventures makes money primarily by producing and selling gold once its mining operations are in production. Its core revenue stream is the sale of gold (typically priced off prevailing market benchmarks) generated from mined ore processed ...
G Mining Ventures Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The earnings call reflected a strong start to the year with solid financial results and significant resource growth at Oko West. Operational efficiencies were evident despite weather challenges and unplanned downtime. The company maintained a disciplined approach to cost management and resource development, setting a positive outlook for the remainder of the year.Positive Updates
Strong Financial Performance
Revenue was $98 million with an average realized gold price of $2,766 per ounce. Income from mining operations reached $60 million, maintaining a 61% margin. Adjusted EBITDA was $69 million, and adjusted net income stood at $35 million or $0.16 per share.
Negative Updates
Challenges Due to Weather
Heavy rainfall impacted access to higher grade benches at TZ, but the company managed by drawing from surface stockpiles.
Read all updates
Q1-2025 Updates
Positive
Negative
Strong Financial Performance
Revenue was $98 million with an average realized gold price of $2,766 per ounce. Income from mining operations reached $60 million, maintaining a 61% margin. Adjusted EBITDA was $69 million, and adjusted net income stood at $35 million or $0.16 per share.
Read all positive updates
Company Guidance
In the call, G Mining Ventures provided detailed guidance for their operations in the first quarter of 2025. They reported the production of 35,578 ounces of gold at a cash cost of $689 per ounce and an all-in sustaining cost (AISC) of $960 per ounce, maintaining their first quartile cost position. The company generated an adjusted EBITDA of $69 million and free cash flow of $36 million, ending the quarter with $149 million in cash. Looking forward, they aim to produce between 175,000 and 200,000 ounces for the year, with over 56% of production expected in the second half as grades and throughput increase. Additionally, sustaining capital expenditures are anticipated to total $40 million in Q2, with $22 million projected for the second half, focused primarily on capitalized waste stripping. The Oko West project remains on track for a construction decision in the second half, supported by a robust feasibility study indicating a 12-year mine life with an average annual gold production of 350,000 ounces at a first quartile AISC of $1,123 per ounce.G Mining Ventures Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 590.83M | 145.25M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 405.93M | 87.43M | 0.00 | 0.00 | 0.00 |
| EBITDA | 442.02M | 96.62M | -7.25M | -5.22M | -2.79M |
| Net Income | 292.90M | 62.01M | -7.18M | -1.90M | -2.82M |
Balance Sheet | |||||
| Total Assets | 1.95B | 1.47B | 583.48M | 259.11M | 119.10M |
| Cash, Cash Equivalents and Short-Term Investments | 134.30M | 141.22M | 52.40M | 82.70M | 56.96M |
| Total Debt | 141.18M | 114.76M | 32.66M | 32.03K | 85.52K |
| Total Liabilities | 531.72M | 462.83M | 322.33M | 15.47M | 2.64M |
| Stockholders Equity | 1.42B | 1.01B | 261.15M | 243.64M | 116.48M |
Cash Flow | |||||
| Free Cash Flow | 113.64M | -111.47M | -62.49M | -65.41M | -4.52M |
| Operating Cash Flow | 312.94M | 28.49M | 242.89M | -1.16M | -4.47M |
| Investing Cash Flow | -314.72M | -119.83M | -309.59M | -91.79M | -24.00M |
| Financing Cash Flow | -14.23M | 190.31M | 31.55M | 123.57M | 83.07M |
G Mining Ventures Technical Analysis
Positive
56.23
Price Trends
49.34
Positive
44.83
Positive
34.12
Positive
Market Momentum
2.27
Negative
63.41
Neutral
78.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GMIN, the sentiment is Positive. The current price of 56.23 is above the 20-day moving average (MA) of 48.51, above the 50-day MA of 49.34, and above the 200-day MA of 34.12, indicating a bullish trend. The MACD of 2.27 indicates Negative momentum. The RSI at 63.41 is Neutral, neither overbought nor oversold. The STOCH value of 78.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GMIN.
G Mining Ventures Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$8.96B | 27.69 | 12.71% | 0.66% | 47.17% | ― | |
73 Outperform | C$11.19B | 23.37 | 20.84% | ― | 301.50% | 1151.14% | |
66 Neutral | C$111.34M | 12.43 | 33.85% | ― | 117.33% | 597.46% | |
65 Neutral | C$476.79M | 42.28 | 8.03% | 0.97% | 53.23% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$40.89M | -2.06 | -38.02% | ― | -41.27% | 62.12% |
* Basic Materials Sector Average
TSE:GMIN
G Mining Ventures
47.08
27.96
146.23%
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Metalla Royalty & Streaming
8.96
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117.48%
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6.92
2.57
58.93%
TSE:EMPR
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0.88
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TSE:STRR
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147.62%
TSE:TFPM
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43.36
14.99
52.84%
G Mining Ventures Corporate Events
Business Operations and StrategyM&A Transactions
G Mining Ventures to Acquire G2 Goldfields, Creating Tier-One Guyana Gold Hub
Positive
Apr 9, 2026
G Mining Ventures has agreed to acquire G2 Goldfields in an all-share transaction that consolidates their adjacent Oko West and Oko-Ghanie gold projects in Guyana into a single tier-one Oko Project. The combined operation is expected to become one...
Business Operations and StrategyFinancial Disclosures
G Mining Ventures Triples Gold Reserves on Oko West Feasibility Study
Positive
Mar 12, 2026
G Mining Ventures reported a 221% year-over-year increase in proven and probable gold reserves to 6.52 million ounces at an average grade of 1.60 g/t as of year-end 2025, underpinned by the addition of 4.64 million ounces of reserves at its Oko We...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
La Mancha Raises Stake in G Mining Ventures to 19.9% in C$427 Million Top-Up
Positive
Mar 9, 2026
G Mining Ventures said its largest shareholder, La Mancha Investments, has exercised its top-up right to raise its stake to 19.9%, underscoring long-term support for the miner’s strategy to become an intermediate gold producer. The company w...
Business Operations and StrategyPrivate Placements and Financing
La Mancha Increases Stake in G Mining Ventures with $427 Million Top-Up Investment
Positive
Mar 9, 2026
G Mining Ventures has announced that its largest shareholder, La Mancha, will exercise its top-up right to increase its stake to 19.9%, underscoring continued confidence in the company’s growth strategy and Latin American gold portfolio. The...
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.