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Independence Gold
(IGO)
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Rating:53Neutral
Price Target:
C$0.15
▲(26.67% Upside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn) and a negative P/E with no dividend support. These risks are partially offset by strong technical momentum, with the stock trading above major moving averages and a positive MACD, though overbought indicators add near-term volatility risk.
Positive Factors
Low Leverage
Very low debt reduces mandatory financing costs and default risk, giving the explorer more flexibility to fund geological work. This is a relative strength, although it does not offset the need for external capital caused by cash burn.
Negative Factors
No Revenue Base
No revenue means the company has no operating income stream to fund exploration, overhead, or future development. Its financial outlook therefore depends on successful discoveries and continued access to external financing rather than customer demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low debt reduces mandatory financing costs and default risk, giving the explorer more flexibility to fund geological work. This is a relative strength, although it does not offset the need for external capital caused by cash burn.
Read all positive factors
Independence Gold (IGO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$31.67M
Dividend YieldN/A
Average Volume (3M)922.17K
Price to Earnings (P/E)―
Beta (1Y)1.90
Revenue GrowthN/A
EPS Growth44.27%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.02
Shares Outstanding263,947,850
10 Day Avg. Volume1,159,303
30 Day Avg. Volume922,172
Financial Highlights & Ratios
PEG Ratio1.20
Price to Book (P/B)2.37
Price to Sales (P/S)0.00
P/FCF Ratio-3.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Independence Gold Business Overview & Revenue Model
Company Description
Independence Gold Corp., established in Vancouver, Canada, in 2011, specializes in the acquisition, exploration, and assessment of sites prospective for gold and silver deposits across North America. The company wholly owns several significant pro...
How the Company Makes Money
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Independence Gold Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -80.38K | -99.53K | -98.78K | -95.82K | -99.14K |
| EBITDA | -5.94M | -5.33M | -3.68M | -2.15M | -2.54M |
| Net Income | -6.04M | -5.46M | -3.81M | -2.28M | -8.95M |
Balance Sheet | |||||
| Total Assets | 11.04M | 14.50M | 8.47M | 6.46M | 7.01M |
| Cash, Cash Equivalents and Short-Term Investments | 6.39M | 9.75M | 3.61M | 1.58M | 2.03M |
| Total Debt | 139.93K | 244.57K | 420.78K | 523.12K | 601.26K |
| Total Liabilities | 1.04M | 1.53M | 866.29K | 749.39K | 787.76K |
| Stockholders Equity | 10.00M | 12.98M | 7.60M | 5.71M | 6.23M |
Cash Flow | |||||
| Free Cash Flow | -6.50M | -4.56M | -3.39M | -1.82M | -2.57M |
| Operating Cash Flow | -6.45M | -4.56M | -3.36M | -1.82M | -2.57M |
| Investing Cash Flow | -30.11K | -3.47K | -25.45K | -3.47K | 38.02K |
| Financing Cash Flow | 3.14M | 10.70M | 5.41M | 1.43M | 1.69M |
Independence Gold Technical Analysis
Positive
0.12
Price Trends
0.11
Positive
0.10
Positive
0.10
Positive
Market Momentum
<0.01
Negative
70.38
Negative
61.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IGO, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.11, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 70.38 is Negative, neither overbought nor oversold. The STOCH value of 61.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:IGO.
Independence Gold Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$31.67M | -7.01 | -53.48% | ― | ― | 44.27% | |
48 Neutral | C$25.77M | -14.92 | -3.47% | ― | ― | 71.25% | |
47 Neutral | C$24.53M | -27.18 | -40.13% | ― | ― | 33.12% | |
44 Neutral | C$14.46M | -10.48 | -81.53% | ― | ― | -30.85% | |
44 Neutral | C$17.63M | -4.97 | 261.00% | ― | ― | 63.82% |
* General Sector Average
TSE:IGO
Independence Gold
0.15
0.00
0.00%
TSE:IRV
Irving Resources
0.27
0.03
10.20%
TSE:RAK
Rackla Metals
0.24
-0.55
-69.87%
TSE:RDU
Radius Gold
0.13
-0.01
-7.14%
TSE:SWA
Sarama Resources
0.04
>-0.01
-12.50%
TSE:NBRK
New Break Resources Ltd.
0.28
0.20
250.00%
Independence Gold Corporate Events
Business Operations and Strategy
Independence Gold Hits High-Grade Gold-Silver at Tommy Vein, 3Ts Project
Positive
Aug 19, 2026
Independence Gold Corp. reported strong drill results from the Tommy Vein System at its 3Ts Gold and Silver Project in British Columbia, with hole 3TS-26-34 intersecting 31.04 metres grading 9.07 g/t gold and 70.56 g/t silver. A second hole drille...
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.