GoldMining (TSE:GOLD)
TSX:GOLD
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GoldMining
(TSX:GOLD)
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Rating:46Neutral
Price Target:
C$1.50
▼(-10.71% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak fundamentals (no revenue, ongoing losses, and continued cash burn) and bearish technicals (below key moving averages with negative MACD), partially offset by a strong low-debt balance sheet and positive corporate progress on leadership and project milestones.
Positive Factors
Very low leverage / strong balance sheet
Extremely low leverage (TTM debt-to-equity ~0.002) provides durable financial flexibility to fund exploration and development without immediate refinancing pressure. Over the next several months this reduces solvency risk, preserves optionality for JVs or asset sales, and supports opportunistic project spending.
Negative Factors
No revenue and persistent operating losses
No reported revenue and persistent operating losses mean the business is not self-funding its operations or development. Over 2–6 months this structural earnings gap forces reliance on external financing or asset dispositions, limiting freedom to accelerate project work and increasing execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
Extremely low leverage (TTM debt-to-equity ~0.002) provides durable financial flexibility to fund exploration and development without immediate refinancing pressure. Over the next several months this reduces solvency risk, preserves optionality for JVs or asset sales, and supports opportunistic project spending.
Read all positive factors
GoldMining (GOLD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$359.11M
Dividend YieldN/A
Average Volume (3M)565.67K
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue GrowthN/A
EPS Growth37.78%
CountryCA
Employees33
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.04
Shares Outstanding213,757,480
10 Day Avg. Volume530,678
30 Day Avg. Volume565,671
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)1.76
Price to Sales (P/S)0.00
P/FCF Ratio-17.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$5.21Price Target Upside210.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.15
Revenue Forecast (FY)N/A
GoldMining Business Overview & Revenue Model
Company Description
GoldMining Inc., a mineral exploration company, focuses on the acquisition, exploration, and development of gold assets in the Americas. It also operates a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United...
How the Company Makes Money
GoldMining Inc. generates revenue primarily through the acquisition, exploration, and potential development of mineral resources, including gold and copper. The company seeks to add value by assessing and advancing its portfolio of mining projects...
GoldMining Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -346.00K | -331.00K | -237.00K | -210.00K | -186.00K |
| EBITDA | -25.54M | -23.70M | -23.20M | -13.41M | -11.19M |
| Net Income | -13.48M | -25.29M | -28.76M | -13.20M | 100.36M |
Balance Sheet | |||||
| Total Assets | 237.96M | 120.96M | 136.88M | 147.33M | 200.16M |
| Cash, Cash Equivalents and Short-Term Investments | 26.38M | 11.88M | 21.59M | 8.35M | 11.71M |
| Total Debt | 299.00K | 387.00K | 395.00K | 9.08M | 12.65M |
| Total Liabilities | 8.36M | 5.80M | 4.46M | 12.24M | 24.45M |
| Stockholders Equity | 226.79M | 113.76M | 129.24M | 135.09M | 175.70M |
Cash Flow | |||||
| Free Cash Flow | -23.22M | -23.18M | -23.39M | -11.13M | -7.97M |
| Operating Cash Flow | -23.22M | -22.53M | -22.72M | -10.99M | -7.92M |
| Investing Cash Flow | 2.04M | -1.04M | -3.76M | -6.42M | -2.39M |
| Financing Cash Flow | 34.38M | 13.35M | 39.88M | 13.91M | 12.77M |
GoldMining Technical Analysis
Neutral
1.68
Price Trends
2.04
Negative
1.99
Negative
1.72
Negative
Market Momentum
-0.11
Negative
43.90
Neutral
76.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GOLD, the sentiment is Neutral. The current price of 1.68 is below the 20-day moving average (MA) of 1.74, below the 50-day MA of 2.04, and below the 200-day MA of 1.72, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 43.90 is Neutral, neither overbought nor oversold. The STOCH value of 76.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GOLD.
GoldMining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | C$347.24M | 192.23 | -2.68% | ― | ― | -74.07% | |
53 Neutral | C$350.36M | -39.83 | -10.35% | ― | ― | -69.66% | |
47 Neutral | C$388.66M | -88.74 | -1.51% | ― | ― | 62.97% | |
46 Neutral | C$359.11M | -29.69 | -8.36% | ― | ― | 37.78% | |
46 Neutral | C$528.99M | -44.17 | -3.53% | ― | ― | -445.00% | |
46 Neutral | C$293.81M | -28.98 | -29.59% | ― | ― | 50.13% |
* Basic Materials Sector Average
TSE:GOLD
GoldMining
1.68
0.66
64.71%
TSE:BYN
Banyan Gold
1.27
1.05
477.27%
TSE:RDS
Radisson Mining Resources
0.80
0.51
171.19%
TSE:TUD
Tudor Gold
0.95
0.41
75.93%
TSE:SIG
Sitka Gold Corp.
0.90
0.41
83.67%
TSE:MFG
Mayfair Gold
4.38
1.20
37.74%
GoldMining Corporate Events
Business Operations and StrategyExecutive/Board Changes
GoldMining Taps Veteran Engineer Imola Götz to Steer Project Development Push
Positive
Mar 5, 2026
GoldMining Inc. has appointed veteran mining engineer Imola Götz as Vice President, Project Development, tasking her with overseeing engineering, procurement, construction management and project controls across its portfolio of resource-stage...
Business Operations and Strategy
GoldMining Highlights Positive PEA Milestone at Alaska Whistler Project
Positive
Mar 2, 2026
GoldMining has hailed a positive initial economic assessment completed by its majority-owned subsidiary U.S. GoldMining on the Whistler gold-copper project in Alaska. Management says the study supports its long-term vision for the asset and unders...
Financial DisclosuresRegulatory Filings and Compliance
GoldMining Files Annual Financial Reports and Disclosure for 2025
Neutral
Feb 28, 2026
GoldMining Inc. has filed its annual financial statements, management’s discussion and analysis, annual information form and its annual report for the year ended November 30, 2025. These filings, which provide updated details on the company&...
Business Operations and Strategy
GoldMining Extends Deep Gold Mineralization and Identifies Large New Target at São Jorge Project in Brazil
Positive
Jan 26, 2026
GoldMining Inc. reported new assay results from its 2025 diamond core drilling program at the São Jorge Project in Brazil, including a deep intercept of 19 metres grading 1.00 g/t gold within a broader 73-metre zone beneath the current resour...
Business Operations and StrategyExecutive/Board Changes
GoldMining Taps Veteran Mining Financier Martin Dumont for Corporate Development and IR Role
Positive
Jan 22, 2026
GoldMining Inc. has appointed Martin Dumont as Vice President, Corporate Development and Investor Relations, adding a seasoned finance and mining-sector professional to its executive team. Dumont, whose background spans corporate development at Sa...
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.