Goliath Resources (TSE:GOT)
:GOT
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Goliath Resources
(GOT)
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Rating:44Neutral
Price Target:
C$1.50
▼(-12.28% Downside)
Action:ReiteratedDate:03/20/26
The score is driven primarily by weak financial performance (no revenue, widening losses, and significant ongoing cash burn) and a strongly bearish technical setup (below key moving averages with negative MACD). Zero debt and improved equity modestly reduce balance-sheet risk, but negative earnings and no dividend limit valuation support.
Positive Factors
Conservative balance sheet (zero debt)
Zero debt materially lowers financial risk and eliminates interest expense, giving Goliath durable flexibility to fund exploration via equity or partner deals. This capital structure lengthens runway versus leveraged peers and improves negotiating power with potential JV/earn-in partners.
Negative Factors
No revenue and widening losses
The absence of operating revenue and widening net losses make the firm entirely pre-revenue and capital consuming. This persistent loss profile raises execution risk, lengthens the timeline to self-sustaining operations, and increases the likelihood of dilution from future financing rounds.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (zero debt)
Zero debt materially lowers financial risk and eliminates interest expense, giving Goliath durable flexibility to fund exploration via equity or partner deals. This capital structure lengthens runway versus leveraged peers and improves negotiating power with potential JV/earn-in partners.
Read all positive factors
Goliath Resources (GOT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$297.29M
Dividend YieldN/A
Average Volume (3M)352.67K
Price to Earnings (P/E)―
Beta (1Y)2.00
Revenue GrowthN/A
EPS Growth26.29%
CountryCA
Employees12
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding173,853,910
10 Day Avg. Volume264,742
30 Day Avg. Volume352,669
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)8.92
Price to Sales (P/S)0.00
P/FCF Ratio-10.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$5.25Price Target Upside207.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.18
Revenue Forecast (FY)N/A
Goliath Resources Business Overview & Revenue Model
Company Description
Goliath Resources Limited, a junior resource exploration company, engages in the acquisition and exploration of mineral properties in British Columbia, Canada. The company explores for gold, silver, copper, and molybdenum. It has an option to acqu...
How the Company Makes Money
null...
Goliath Resources Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Sep 2025 | Jun 2024 | Sep 2022 | Sep 2021 | Sep 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -31.70K | -111.79K | -108.04K | 0.00 | 0.00 | 0.00 |
| EBITDA | -25.18M | -30.86M | -24.98M | -20.97M | -13.52M | -5.81M |
| Net Income | -26.94M | -30.97M | -25.09M | -20.97M | -13.47M | -5.84M |
Balance Sheet | ||||||
| Total Assets | 52.79M | 45.25M | 4.65M | 9.98M | 14.86M | 5.93M |
| Cash, Cash Equivalents and Short-Term Investments | 49.38M | 43.40M | 3.14M | 9.09M | 13.55M | 5.24M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 12.17M | 11.92M | 1.25M | 3.86M | 642.57K | 459.77K |
| Stockholders Equity | 40.62M | 33.32M | 3.40M | 6.12M | 14.22M | 5.47M |
Cash Flow | ||||||
| Free Cash Flow | -41.01M | -28.06M | -18.74M | -17.15M | -7.98M | -2.77M |
| Operating Cash Flow | -41.01M | -28.06M | -18.71M | -16.95M | -7.98M | -2.77M |
| Investing Cash Flow | 4.65M | 0.00 | -22.68K | -200.90K | 0.00 | 0.00 |
| Financing Cash Flow | 60.66M | 57.16M | 12.86M | 12.67M | 16.38M | 7.77M |
Goliath Resources Technical Analysis
Neutral
1.71
Price Trends
1.99
Negative
2.27
Negative
2.42
Negative
Market Momentum
-0.10
Negative
43.42
Neutral
58.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GOT, the sentiment is Neutral. The current price of 1.71 is above the 20-day moving average (MA) of 1.64, below the 50-day MA of 1.99, and below the 200-day MA of 2.42, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 43.42 is Neutral, neither overbought nor oversold. The STOCH value of 58.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GOT.
Goliath Resources 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% | |
61 Neutral | C$347.27M | 597.10 | 2.21% | ― | 694.29% | ― | |
46 Neutral | C$479.96M | -55.40 | -4.59% | ― | ― | -14.43% | |
46 Neutral | C$238.77M | -20.48 | -22.79% | ― | ― | -34.83% | |
46 Neutral | C$448.43M | -132.34 | -5.28% | ― | ― | -71.82% | |
44 Neutral | C$297.29M | -26.97 | -90.85% | ― | ― | 26.29% | |
43 Neutral | C$455.38M | -32.59 | -105.31% | ― | ― | -198.87% |
* Basic Materials Sector Average
TSE:GOT
Goliath Resources
1.79
0.09
5.29%
TSE:BRC
Blackrock Silver
1.30
0.97
288.06%
TSE:SLVR
Silver Tiger Metals
0.90
0.58
181.25%
TSE:SSV
Southern Silver Exploration
0.61
0.37
154.17%
TSE:SM
Sierra Madre Gold & Silver Ltd.
1.79
1.19
198.33%
TSE:BRVO
Bravo Mining Corp.
3.48
0.80
29.85%
Goliath Resources Corporate Events
Business Operations and StrategyM&A Transactions
Goliath Resources Secures 100% of Golddigger Property and Lets McEwen Warrants Expire
Positive
Mar 10, 2026
Goliath Resources has secured full ownership of its Golddigger Property in British Columbia’s Golden Triangle, issuing 3,000,000 common shares to the J2 Syndicate to acquire the remaining 51% interest and consolidate 100% control over the hi...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Goliath Resources Seeks Six-Month Extension on McEwen Inc. Warrants
Positive
Feb 28, 2026
Goliath Resources Limited, a precious metals explorer in British Columbia’s Golden Triangle, is advancing large-scale drilling programs in a stable Canadian mining jurisdiction. Backed by high-profile investors and aligned with academic-indu...
Business Operations and Strategy
Goliath Boosts Grades and Expands High-Grade Surebet Discovery in B.C.’s Golden Triangle
Positive
Feb 24, 2026
Goliath Resources reported that incorporating silver, copper, lead and zinc into assays from its Surebet discovery increased overall gold-equivalent grades by an average 19.6% in 56 drill holes, with standout intercepts including 24.16 g/t AuEq ov...
Business Operations and StrategyFinancial Disclosures
Goliath Reports Stronger Gold-Equivalent Grades and Plans Expanded Drilling at Surebet
Positive
Feb 19, 2026
Goliath Resources reported updated gold-equivalent drill results from its Surebet discovery in British Columbia’s Golden Triangle, showing an average 13.2% increase in grade when silver, copper, lead and zinc are included in 54 holes. Multip...
Business Operations and StrategyDelistings and Listing Changes
Goliath Resources Upgrades to OTCQX as Golden Triangle Position Strengthens
Positive
Feb 17, 2026
Goliath Resources has upgraded its U.S. trading status from the OTCQB Venture Market to the higher-tier OTCQX Best Market, where it now trades under the symbol GOTRF, a move that underscores its adherence to stronger financial and governance stand...
Business Operations and Strategy
Goliath Resources to Showcase Surebet Discovery at PDAC 2026 Core Shack
Positive
Jan 28, 2026
Goliath Resources has been selected to showcase drill core from its Surebet high-grade gold discovery at PDAC 2026’s Core Shack, a prominent platform at the world’s leading mineral exploration and mining convention, highlighting the pr...
Business Operations and Strategy
Goliath Resources Moves to Full Ownership of Golddigger Property, Trims Royalty Burden
Positive
Jan 22, 2026
Goliath Resources has amended its option agreement with The J2 Syndicate to accelerate its ownership of the Golddigger property in British Columbia’s Golden Triangle from 49% to 100%, while cutting the net smelter royalty on the asset from 3...
Business Operations and Strategy
Goliath Resources Expands High-Grade Gold Mineralization at Surebet With Strong 2025 Drill Results
Positive
Jan 20, 2026
Goliath Resources has reported final gold-only assay results from 70 drill holes in its 2025 campaign at the Surebet project, confirming high-grade gold mineralization across five main zones, including standout intercepts such as 19.13 g/t gold ov...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Goliath Resources Shareholders Approve All Meeting Matters as Board Opts Against Share Consolidation
Positive
Jan 15, 2026
Goliath Resources Limited reported that all items at its January 14, 2026 annual and special shareholders’ meeting were approved, including the re-election of its board of directors, re-appointment of its auditor, re-approval and amendment o...
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.