G Mining Ventures (GMIN) AI Stock Analysis

• Market Cap: C$9.88B
• Dividend Yield: N/A
• Average Volume (3M): 510.44K
• Price to Earnings (P/E): 35.6
• Beta (1Y): 1.40
• Revenue Growth: 1069.24%
• EPS Growth: 4643.80%
• Country: CA
• Employees: 1,157
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.68
• Shares Outstanding: 227,824,780
• 10 Day Avg. Volume: 704,141
• 30 Day Avg. Volume: 510,436
• PEG Ratio: -0.01
• Price to Book (P/B): 1.21
• Price to Sales (P/S): 8.39
• P/FCF Ratio: -10.94
• 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$52.83
• Price Target Upside: 14.16% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: C$51.00 ▲(10.20% Upside)

The score is driven by strong technical momentum and a series of positive operational/project catalysts, supported by improved profitability and low leverage. It is held back primarily by weak cash conversion and deeply negative free cash flow, with valuation also looking relatively expensive at a 32.82 P/E and no dividend yield.

Positive Factors

High profitability and margins

A marked step-up to strong gross, EBIT and net margins indicates the company’s operations and processing are currently cash-generative at prevailing grades. Durable high margins improve the ability to self-fund sustaining capex, service debt and absorb commodity volatility if maintained.

Conservative balance sheet leverage

Low leverage provides financial flexibility to fund development and weather commodity cycles without urgent refinancing. A conservatively levered balance sheet reduces probability of distress, supports staged project spending and preserves optionality for strategic investments.

Advancing project and operational milestones

Concrete project milestones and secured financing materially de-risk the production growth profile. Progress on Oko West plus production and tax incentives enhance resource conversion and future revenue visibility, improving the durability of the company’s growth trajectory.

Negative Factors

Weak cash conversion from earnings

Significant divergence between net income and operating cash flow indicates earnings are not translating into liquid cash. This weak conversion constrains internal funding for sustaining/growth capex and raises reliance on external financing over the medium term until conversion improves.

Materially negative free cash flow

Large negative FCF reflects heavy investment or working-capital build that depletes liquidity. Persisting negative FCF increases funding needs, heightens execution risk for project payback, and can delay shareholder returns absent a demonstrable move to positive free cash flow.

Limited multi-year operating track record

A short operating history reduces confidence in sustainability of margins, recovery rates and cost structure across cycles. Without multi-cycle performance data, forecasting operating durability and capital intensity is more uncertain, raising execution and modeling risk.

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 exploration licenses covering an area of 76,116 hectares, and two applications for exploration licenses covering an area of 10,569 hectares located in Pará State, Brazil. The company was formerly known as Kanadario Gold Inc. The company was incorporated in 2017 and is based in Québec, Canada.

How the Company Makes Money

G Mining Ventures makes money by exploring and developing gold mining projects and ultimately producing and selling gold. The company's revenue model is primarily based on the extraction and sale of gold from its mining operations. This includes identifying promising gold deposits, conducting feasibility studies, and then developing these sites into productive mines. Once operational, the company sells the extracted gold on the open market, which constitutes its primary revenue stream. Additionally, G Mining Ventures may engage in strategic partnerships or joint ventures with other mining companies to share resources and expertise, contributing to its earnings. These partnerships can also provide additional funding or access to new mining opportunities, further enabling the company to expand its operations and increase revenue.

G Mining Ventures Financial Statement Overview

Summary

Strong profitability step-change and a conservatively levered balance sheet are positives, but cash generation is a major weakness: operating cash flow trails net income and free cash flow is deeply negative, increasing reliance on funding and execution.

Income Statement

Profitability improved sharply in 2024, with revenue of ~$145.3M and very strong margins (gross margin ~60%, EBIT margin ~52%, net margin ~43%), driving net income of ~$62.0M versus losses in prior years. The key weakness is limited multi-year comparability: 2020–2023 show no revenue and negative earnings, suggesting results are newly ramping and may be less proven through a full cycle.

Balance Sheet

The balance sheet looks conservatively levered, with total debt of ~$114.8M against equity of ~$1.01B (debt-to-equity ~0.11) and a sizable asset base (~$1.47B). Return on equity turned positive (~6.1%) after being negative in prior years, though the return profile is still modest relative to the step-up in profitability and could be pressured if earnings normalize.

Cash Flow

Cash generation is the main weak spot: 2024 operating cash flow was ~$28.5M versus net income of ~$62.0M, indicating weaker cash conversion. Free cash flow was materially negative (about -$111.5M) and also declined versus the prior period, consistent with heavy investment or working-capital build; while this can be strategic, it increases reliance on funding and execution to translate spending into durable cash returns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	491.58M	145.25M	0.00	0.00	0.00	0.00
Gross Profit	323.79M	87.43M	0.00	0.00	0.00	0.00
EBITDA	428.20M	96.62M	-7.25M	-5.22M	-2.79M	-333.24K
Net Income	244.44M	62.01M	-7.18M	-1.90M	-2.82M	-494.56K
Balance Sheet
Total Assets	2.45B	1.47B	583.48M	259.11M	119.10M	1.16M
Cash, Cash Equivalents and Short-Term Investments	131.67M	141.22M	52.40M	82.70M	56.96M	870.21K
Total Debt	119.68M	114.76M	32.66M	32.03K	85.52K	0.00
Total Liabilities	595.22M	462.83M	322.33M	15.47M	2.64M	64.47K
Stockholders Equity	1.86B	1.01B	261.15M	243.64M	116.48M	1.10M
Cash Flow
Free Cash Flow	53.16M	-111.47M	-62.49M	-65.41M	-4.52M	-404.12K
Operating Cash Flow	294.11M	28.49M	242.89M	-1.16M	-4.47M	-404.12K
Investing Cash Flow	-339.62M	-119.83M	-309.59M	-91.79M	-24.00M	-124.99K
Financing Cash Flow	5.89M	190.31M	31.55M	123.57M	83.07M	813.01K

G Mining Ventures Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 46.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 46.28 is above the 20-day moving average (MA) of 44.67, above the 50-day MA of 39.93, and above the 200-day MA of 26.47, indicating a bullish trend. The MACD of 1.97 indicates Positive momentum. The RSI at 55.36 is Neutral, neither overbought nor oversold. The STOCH value of 23.27 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TFPM	78 Outperform	C$9.63B	33.06	11.27%	0.66%	43.27%	―
GMIN	72 Outperform	C$9.88B	35.61	17.77%	―	1069.24%	4643.80%
VOXR	67 Neutral	$492.90M	-174.71	-2.13%	0.97%	11.95%	-44.15%
EMPR	67 Neutral	C$135.26M	28.72	17.02%	―	112.93%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
STRR	52 Neutral	C$33.03M	-1.03	-64.35%	―	-47.93%	-538.46%

G Mining Ventures Corporate Events

G Mining Ventures Sets 2026–27 Outlook With Higher Output, Lower Costs and Heavy Spend on Oko West

G Mining Ventures has issued its operational outlook for 2026 and 2027, projecting steady production growth and improving costs at its Tocantinzinho Gold Mine in Brazil while advancing Oko West in Guyana toward first gold in the second half of 2027. The company expects TZ to produce 160,000–190,000 ounces of gold in 2026 and 200,000–235,000 ounces in 2027, with a heavier production profile in the second half of 2026 as higher-grade ore comes online and a full-year contribution from Phase 2 ore driving the 2027 increase. Cash operating costs are forecast at $736–$865 per ounce in 2026, improving to $633–$743 in 2027, while all-in sustaining costs are projected to fall by roughly 20% year-on-year, underpinned by disciplined spending and operational efficiencies. Sustaining capital at TZ is guided at $69–$81 million in 2026 and $62–$74 million in 2027, with a significant growth capital program of $514–$568 million in 2026 and $217–$240 million in 2027 dedicated mainly to developing Oko West. The company is also planning its largest-ever exploration budget of $42–$50 million in 2026, spread across Gurupi, Oko West and TZ, and says its balance sheet and cash flow generation should support this aggressive growth and exploration agenda, reinforcing its longer-term production and cost profile for stakeholders.

The most recent analyst rating on (TSE:GMIN) stock is a Buy with a C$47.00 price target. To see the full list of analyst forecasts on G Mining Ventures stock, see the TSE:GMIN Stock Forecast page.

G Mining Ventures Posts Strong First Full Year of Output at Brazil’s Tocantinzinho Mine

G Mining Ventures reported robust preliminary operational results for the fourth quarter and full year 2025 at its Tocantinzinho gold mine in Brazil, marking the operation’s first full year of commercial production. The mine produced 47,346 ounces of gold in the fourth quarter and 171,871 ounces for the year, processing 4,086 kt of ore at an average grade of 1.44 g/t with recoveries of 90.6%, while gold sales closely matched production. An 18% quarter-on-quarter increase in the average mining rate to 64,700 tonnes per day, driven by the commissioning of additional mining equipment, underscores improving mine and plant productivity. Management highlighted that these gains were achieved alongside strong safety performance, with a very low lost time injury frequency rate, reinforcing Tocantinzinho’s role as a key growth asset for G Mining Ventures and supporting its ambition to evolve into a mid-tier precious metals producer ahead of full financial disclosure due at the end of March.

The most recent analyst rating on (TSE:GMIN) stock is a Buy with a C$45.00 price target. To see the full list of analyst forecasts on G Mining Ventures stock, see the TSE:GMIN Stock Forecast page.

G Mining Ventures Secures Mining License for Oko West Project

G Mining Ventures has received a Mining License for its Oko West Gold Project in Guyana, marking a significant milestone in the project’s development. This approval allows for full construction and commercial gold production, positioning Oko West as a key asset for the company. The project is set to begin pre-production open-pit mining in early 2026, with the initial mining equipment fleet already being assembled. This development is expected to enhance GMIN’s industry positioning and deliver economic and social benefits to Guyana.

The most recent analyst rating on (TSE:GMIN) stock is a Buy with a C$45.00 price target. To see the full list of analyst forecasts on G Mining Ventures stock, see the TSE:GMIN Stock Forecast page.

G Mining Ventures Reports Strong Q3 2025 Results and Advances Key Projects

G Mining Ventures reported strong financial and operational results for Q3 2025, with a significant increase in gold production and robust financial performance, including record revenues and free cash flow. The company is advancing its Oko West project to full construction, backed by secured financing, and is enhancing profitability at its Tocantinzinho mine through tax incentives. These developments position G Mining Ventures for multi-asset growth and long-term value creation for shareholders.

The most recent analyst rating on (TSE:GMIN) stock is a Buy with a C$43.00 price target. To see the full list of analyst forecasts on G Mining Ventures stock, see the TSE:GMIN Stock Forecast page.

G Mining Ventures Strengthens Financial Position with First Drawdown on Credit Facility

G Mining Ventures Corp. has successfully completed the first drawdown of US$80 million from its US$350 million revolving credit facility to advance the Oko Gold Project in Guyana. This refinancing move, which repays an existing loan, is expected to save the company approximately US$1.5 million annually in interest, thereby strengthening its financial position and supporting ongoing growth and development efforts.

The most recent analyst rating on (TSE:GMIN) stock is a Buy with a C$43.00 price target. To see the full list of analyst forecasts on G Mining Ventures stock, see the TSE:GMIN Stock Forecast page.