Harvest Gold (HVG) AI Stock Analysis

• Market Cap: C$7.84M
• Dividend Yield: N/A
• Average Volume (3M): 234.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.72
• Revenue Growth: N/A
• EPS Growth: -230.94%
• Country: CA
• Employees: N/A
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 120,654,790
• 10 Day Avg. Volume: 203,008
• 30 Day Avg. Volume: 234,594
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: C$0.06 ▼(-1.67% Downside)

The score is held down primarily by pre-revenue financials with widening losses and continued cash burn, alongside weak technical trend signals. Positive exploration progress and a debt-free balance sheet provide support but do not fully offset funding/dilution risk and the lack of profitability-based valuation support.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet provides financial stability and flexibility, allowing the company to invest in growth opportunities without the burden of interest payments.

Strategic Exploration Progress

Securing drill permits for the Mosseau Project marks a significant milestone, enhancing the company's exploration capabilities and potential for resource discovery.

Successful Fundraising

The successful fundraising effort strengthens the company's financial position, enabling continued exploration and operational activities, which are crucial for long-term growth.

Negative Factors

No Revenue Generation

The absence of revenue generation is a critical issue, impacting profitability and limiting the company's ability to sustain operations and invest in future growth.

Negative Cash Flow

Negative cash flow suggests operational inefficiencies and liquidity concerns, which can hinder the company's ability to fund projects and meet financial obligations.

Continuous Net Losses

Ongoing net losses erode shareholder value and raise concerns about the company's ability to achieve profitability, affecting long-term financial health.

Harvest Gold Business Overview & Revenue Model

Company Description

Harvest Gold Corporation, an exploration stage company, engages in the acquisition, exploration, and development of natural resource properties. It explores for copper-gold porphyry projects. The company holds 100% interest in the Emerson project that comprises 14 contiguous mineral claims covering an area of approximately 56 square kilometers located in British Columbia; and the Goathorn exploration project consists six contiguous mineral claims covering an area of 23 square kilometers located in British Columbia. Harvest Gold Corporation was incorporated in 2005 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Harvest Gold makes money through the sale of its bakery products to various customer segments. The company's revenue model is primarily based on direct sales to grocery stores, supermarkets, and food service providers. Additionally, HVG generates income through strategic partnerships with retail chains, enabling broader distribution and brand visibility. The company also benefits from economies of scale in production and distribution, contributing to its profitability. Key revenue streams include retail sales, wholesale contracts, and private label manufacturing for other brands.

Harvest Gold Financial Statement Overview

Summary

Harvest Gold faces significant challenges with no revenue generation and continuous net losses impacting overall profitability. While the balance sheet shows financial stability due to no debt, cash flow issues persist with negative free cash flow trends. The company must focus on revenue generation and cash flow improvement to enhance its financial health.

Income Statement

The company has reported no revenue, which is a significant concern as it affects all profitability ratios like gross profit margin and net profit margin, both of which are undefined. EBIT and EBITDA margins remain negative, showing operational losses. The absence of revenue growth further indicates stagnation in business activity.

Balance Sheet

The company exhibits a strong equity position with no debt, resulting in a debt-to-equity ratio of zero, which is favorable. However, total assets have been decreasing, and the return on equity is negative due to consistent net losses. Despite these challenges, the equity ratio remains high, reflecting financial stability.

Cash Flow

Free cash flow is negative, indicating cash outflows exceed inflows, though there is a reduction in cash burn over time. Operating cash flow to net income ratio is below 1, suggesting inefficiencies in converting income into cash. The lack of stable operating cash flow presents liquidity concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-3.06M	-357.01K	-263.00K	-309.00K	-744.00K	-440.00K
Net Income	-3.08M	-2.63M	-464.00K	-435.00K	-594.00K	-504.00K
Balance Sheet
Total Assets	3.90M	1.03M	2.79M	3.04M	3.51M	1.13M
Cash, Cash Equivalents and Short-Term Investments	2.29M	170.69K	311.84K	514.81K	819.03K	818.21K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	334.27K	290.95K	212.48K	79.10K	112.90K	146.58K
Stockholders Equity	3.57M	737.21K	2.57M	2.96M	3.39M	978.46K
Cash Flow
Free Cash Flow	-711.20K	-436.69K	-335.01K	-524.88K	-2.95M	-490.79K
Operating Cash Flow	-865.16K	-436.69K	―	-227.28K	-665.50K	-266.26K
Investing Cash Flow	-914.76K	-396.69K	22.06K	-76.94K	-2.33M	-208.54K
Financing Cash Flow	3.38M	692.23K	0.00	0.00	2.99M	1.16M

Harvest Gold Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HVG, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.08, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 44.94 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HVG.

Harvest Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
VGD	54 Neutral	C$5.20M	2.57	―	―	―	38.50%
TRU	48 Neutral	C$9.04M	-110.00	-46.43%	―	―	94.57%
HVG	45 Neutral	C$7.84M	-1.41	-93.08%	―	―	-230.94%
WINS	42 Neutral	C$4.56M	-1.65	-107.25%	―	―	―
EDGM	42 Neutral	C$4.97M	-13.64	-13.58%	―	―	-50.00%
GCN	27 Underperform	$4.25M	-11.76	-75.44%	―	―	-64.52%

Harvest Gold Corporate Events

Harvest Gold Expands Gold-Silver-Copper System at Mosseau Dilation Zone

Harvest Gold reported the second set of assay results from its maiden drill program at the Mosseau property, highlighting the discovery of a significant gold-silver-copper halo associated with a major structural dilation zone southeast of the historical Morono deposit. The latest five holes from the northern area encountered thick intervals of anomalous and locally high-grade Au-Ag-Cu mineralization, confirming a regionally extensive and complex gold-rich system that bears similarities to known gold-rich base metal deposits in the Abitibi. Notably, drilling both down-dip of the Morono deposit and more than 300 metres to its southeast returned multiple wide zones of anomalous gold and copper, as well as narrower higher-grade intercepts, providing new, compelling exploration targets and supporting the potential for a sizeable mineralized system at Mosseau.

The most recent analyst rating on (TSE:HVG) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Harvest Gold stock, see the TSE:HVG Stock Forecast page.

Harvest Gold Advances Quebec Gold Portfolio with Share Issuances and Cash Payment

Harvest Gold Corporation has issued 2,250,000 common shares at a deemed price of $0.06 per share and made a $100,000 cash payment as part of its mineral property option agreements on the Mosseau and Urban Barry gold properties in Quebec, advancing its land position along the Urban Barry Greenstone Belt. The share issuances, which are subject to standard Canadian securities hold periods, further consolidate the company’s exposure to a 17.7 km gold-bearing structure at Mosseau and additional ground in the Eeyou Istchee James Bay/Abitibi region, reinforcing its strategic focus on building a sizeable, contiguous gold exploration footprint in a highly prospective district.

Harvest Gold Completes Maiden Mosseau Drill Program and Advances Quebec Exploration Portfolio

Harvest Gold Corporation has completed its maiden 21-hole, 4,692-metre diamond drill program on the northern and central areas of its flagship Mosseau project in Quebec’s Abitibi Urban Barry belt, with full assay results expected in January alongside data from additional magnetic, prospecting and soil sampling work carried out in 2025. The company also advanced regional exploration across its Urban Barry and LaBelle properties through till sampling and high-resolution airborne magnetic surveys, confirmed key structural extensions such as the Kiask River Corridor, and raised approximately $3.43 million in non-brokered private placements to fund these programs, strengthening its exploration pipeline and positioning within a highly prospective gold district for 2026.

Harvest Gold Unveils New Mineralized Horizon at Mosseau Property

Harvest Gold Corporation announced the discovery of a new mineralized horizon at the Trench 1B target in its Mosseau property, located in the Urban Barry Belt in Quebec’s Abitibi region. The initial assay results from the company’s maiden drill program revealed a 600-meter strike length horizon with significant gold and base metal mineralization. This discovery, which includes promising gold grades and semi-massive sulphides, supports the potential to expand historical mineralization and enhance the company’s positioning in the gold exploration industry.

Harvest Gold Resumes Drilling at Mosseau Property

Harvest Gold Corporation announced the resumption of diamond drilling in the central area of its Mosseau property, part of its flagship project in the Urban Barry Belt, Quebec. The central area, which has seen less exploration, is now accessible with new roads and drill pads prepared. The company plans to drill approximately 2,800 meters in this area as part of its 5,000-meter drill program. Assay results from the northern area are expected soon, and the fall exploration program on the southern part of Mosseau and Labelle properties is underway. This development is crucial for Harvest Gold’s exploration efforts, potentially enhancing its position in the mining industry and impacting stakeholders positively.