Liberty Gold (LGD) AI Stock Analysis

• Market Cap: C$525.17M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.91
• Revenue Growth: N/A
• EPS Growth: 0.31%
• Country: CA
• Employees: 14
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.01
• Shares Outstanding: 509,871,730
• 10 Day Avg. Volume: 1,300,381
• 30 Day Avg. Volume: 1,103,526
• PEG Ratio: 0.15
• Price to Book (P/B): 3.44
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.40
• 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$5.00
• Price Target Upside: 385.46% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: C$1.00 ▼(-2.91% Downside)

The score is primarily held back by poor financial performance (no revenue, ongoing losses, and sustained cash burn), partially offset by a low-debt balance sheet. Technicals are supportive of an uptrend but are overextended (high RSI/Stoch), while valuation signals are weak due to a negative P/E and no dividend yield.

Positive Factors

Low leverage / conservative balance sheet

Very low debt relative to equity provides structural solvency strength for an exploration company. It reduces near-term default risk, preserves access to project finance, and gives management flexibility to pursue permitting and drilling without heavy interest burdens or covenant pressure.

Strategic financing and partner support

A Centrella strategic investment and non-dilutive asset payment materially improve funding credibility and lower financing risk. An aligned industry partner can enable technical support, co-funding options, and better access to future capital for multi-stage exploration and development.

Project advancement: permitting, feasibility, drilling

Progress on permitting, feasibility studies and drilling reduces execution and regulatory risk for projects. These milestones increase the probability of moving to development or sale, and they create durable value drivers over many months as studies and permits mature.

Negative Factors

No revenue / persistent net losses

Absence of operating revenue and recurring net losses mean the business lacks self-sustaining economics. Over months this forces dependence on external capital, limits reinvestment into projects, and makes long-term viability contingent on successful financing or asset monetization.

Consistent negative operating and free cash flow

Persistent cash burn indicates operations do not generate funds for exploration or development. Even with year-over-year improvement, negative free cash flow creates ongoing dilution or debt needs, constraining the company’s ability to fund multi-stage project work without external financing.

Eroding equity and asset base

Declining equity and assets reflect sustained losses and capital depletion, weakening the company’s funding cushion. Over the medium term this reduces bargaining power with lenders/investors, increases dilution risk when raising funds, and constrains ability to scale or absorb setbacks.

Liberty Gold Business Overview & Revenue Model

Company Description

Liberty Gold Corp., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Canada, the United States and Turkey. The company primarily explores for gold, silver, lead, zinc, copper, and other precious and base metals. It principally holds 100% interests in the Goldstrike project, including 749 owned unpatented claims, 99 leased unpatented claims, 633 acres of leased patented claims, 160 acres of leased private land, and 926 acres of leased State covering an area of 7,194 hectares located in Washington County, southwest Utah; and the Black Pine project comprising 622 unpatented lode claims covering 4,845 hectares located in southeastern Idaho. The company also holds an option agreement to acquire a 100% interest in the Baxter Spring Gold project located in central Nevada. The company was formerly known as Pilot Gold Inc. and changed its name to Liberty Gold Corp. in May 2017. Liberty Gold Corp. was incorporated in 2010 and is based in Vancouver, Canada.

How the Company Makes Money

Liberty Gold makes money primarily through the exploration and development of its mineral properties, where the discovery of economically viable gold deposits can lead to the sale or joint venture of these projects with established mining companies. Revenue is generated from the sale of mineral rights or through partnerships, where a larger mining company may acquire an interest in a project to advance it towards production, typically involving upfront payments, milestone payments, and potentially a share of future revenue from gold production. Additionally, Liberty Gold may raise capital through equity financing to fund exploration activities, which can also contribute to its financial resources.

Liberty Gold Financial Statement Overview

Summary

Weak fundamentals driven by no revenue, persistent operating and net losses, and consistently negative operating/free cash flow. Positives are very low leverage and modest improvement in cash burn in 2024, but the shrinking equity/asset base underscores ongoing reliance on external funding.

Income Statement

The company reports no revenue across the period provided, which limits visibility into operating scale and business momentum. Profitability is consistently weak, with recurring operating losses (EBIT and EBITDA negative in most years) and net losses in every year except 2020. While losses narrowed in 2024 versus 2023 (net loss improved from about $20.2M to $18.1M), the overall earnings profile remains structurally unprofitable and highly dependent on non-operating factors rather than recurring sales.

Balance Sheet

The balance sheet is conservatively levered, with very low debt relative to equity (debt-to-equity staying roughly ~0.5%–2.2% across the years), which reduces solvency risk. However, the equity base has been shrinking notably from 2020–2024 (about $44.2M down to $21.2M) alongside declining total assets (about $60.4M to $24.4M), reflecting ongoing losses and cash burn. Returns on equity are deeply negative in recent years, highlighting that capital is not currently generating profits.

Cash Flow

Cash generation is a major weak point: operating cash flow and free cash flow are negative in every year shown, indicating the business is not self-funding. There is some improvement in 2024 versus 2023 (operating cash burn improved from about -$15.8M to -$13.4M; free cash burn improved from about -$16.8M to -$13.5M), but free cash flow remains meaningfully negative. Free cash flow is consistently close to net income in magnitude, suggesting losses are largely translating into cash outflows rather than being offset by non-cash items.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-128.17K	0.00	0.00	-353.00K	-337.00K	-269.00K
EBITDA	-21.65M	-16.41M	-16.96M	-28.22M	-24.87M	-15.06M
Net Income	-23.10M	-18.14M	-20.19M	-21.10M	-30.29M	7.48M
Balance Sheet
Total Assets	70.20M	24.44M	35.34M	47.95M	53.33M	60.39M
Cash, Cash Equivalents and Short-Term Investments	45.16M	6.97M	9.08M	19.81M	17.26M	16.83M
Total Debt	521.57K	255.63K	126.60K	330.31K	598.78K	407.03K
Total Liabilities	7.26M	3.28M	4.93M	5.35M	13.00M	8.14M
Stockholders Equity	45.23M	21.16M	27.64M	38.95M	32.80M	44.18M
Cash Flow
Free Cash Flow	-14.59M	-13.46M	-16.75M	-24.91M	-21.70M	-14.18M
Operating Cash Flow	-16.64M	-13.44M	-15.80M	-24.51M	-20.94M	-14.13M
Investing Cash Flow	3.53M	3.16M	-80.52K	6.80M	7.06M	8.79M
Financing Cash Flow	49.85M	9.07M	5.39M	22.61M	14.32M	6.91M

Liberty Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:LGD, the sentiment is Positive. The current price of 1.03 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 0.88, and above the 200-day MA of 0.56, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 79.33 is Negative, neither overbought nor oversold. The STOCH value of 87.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:LGD.

Liberty Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BYN	58 Neutral	C$455.87M	-244.44	-5.60%	―	―	-445.00%
NEXG	53 Neutral	C$306.82M	-5.32	-27.21%	―	―	―
SIG	53 Neutral	C$342.58M	-58.28	-10.44%	―	―	-69.66%
GOLD	49 Neutral	C$448.93M	-27.47	-10.17%	―	―	37.78%
LGD	47 Neutral	C$525.17M	-15.82	-49.70%	―	―	0.31%

Liberty Gold Corporate Events

Liberty Gold Drilling Expands High-Grade Oxide Gold at Black Pine’s Rangefront Zone

Liberty Gold has reported new reverse circulation and core drilling results from its 2025 program at the Black Pine Oxide Gold Project in Idaho, highlighting both infill and step-out holes aimed at tightening the geological model and expanding the resource base ahead of a feasibility study. The latest assays underscore the growing importance of the Rangefront Zone, where hole LBP1197 returned 0.86 g/t gold over 123.4 metres including 2.45 g/t over 24.4 metres, and step-out holes such as LBP1213 and LBP1201 have extended high-grade mineralization 300 metres to the northeast while new shallow oxide zones are expected to convert previously modeled waste into resources at the margins. Infill drilling across the project, particularly in historically under-drilled and higher-grade areas, is expected to upgrade Inferred to Indicated resources and increase total ounces, reinforcing the continuity and expansion potential of the Black Pine system and positioning Rangefront, with a current footprint of roughly 1,500 by 1,000 metres and still open, as a key driver of future resource growth.

The most recent analyst rating on (TSE:LGD) stock is a Hold with a C$0.98 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold’s Black Pine Project Accepted into U.S. FAST-41 Permitting Framework

Liberty Gold Corp. has secured acceptance of its Black Pine Oxide Gold Project in southeastern Idaho into the U.S. Federal Permitting Improvement Steering Committee’s FAST-41 framework as a Covered Project, granting the company access to a coordinated federal and state permitting timetable and a project advisor to improve interagency alignment, transparency and accountability. Management and Idaho’s Lieutenant Governor framed the move as a key milestone that underscores Black Pine’s maturity as a brownfield development and its potential economic benefits for rural communities, while Liberty Gold continues to push forward on feasibility-level engineering, ongoing environmental baseline work and parallel state and federal permitting efforts for what is described as one of the largest undeveloped gold projects in the Great Basin.

The most recent analyst rating on (TSE:LGD) stock is a Hold with a C$0.84 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold Refocuses Utah Portfolio, Bundles Critical Minerals Assets for Potential Sale

Liberty Gold has refined its strategy for its Utah portfolio, choosing to keep its Goldstrike Oxide Gold Project as a core gold development asset while separating and bundling nearby Antimony Ridge and the newly acquired Gage Project into a distinct critical minerals package. The company has expanded the Goldstrike land position with 35 additional claims, is advancing permitting, water rights and internal economic studies, and is targeting disciplined capital allocation to maximize long-term value. At Antimony Ridge, Liberty Gold has drilled-ready, fully permitted targets over a more than 3-kilometre strike of surface antimony and gold mineralization, while the Gage acquisition adds 181 claims and state leases over historic mines and prospects along a critical metals belt surrounding the past-producing Apex Mine, historically the only primary U.S. producer of gallium and germanium. By actively pursuing divestiture options for this enlarged critical minerals package, the company aims to unlock value from non-core assets and sharpen its focus on gold development, potentially broadening its appeal to both precious metals and critical minerals investors.

The most recent analyst rating on (TSE:LGD) stock is a Hold with a C$0.92 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold Reports Promising Infill Drilling Results at Black Pine Project

Liberty Gold Corp. has announced consistent gold grades from its infill drilling program at the Black Pine Gold Project in Idaho. The results strengthen the company’s geological model, indicating potential resource growth and improved waste to ore ratios, which could positively impact future feasibility studies and resource updates.

The most recent analyst rating on (TSE:LGD) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold Achieves Key Permitting Milestone for Black Pine Project

Liberty Gold Corp. has achieved a significant milestone in the permitting process for its Black Pine Gold Project in Idaho, as the United States Forest Service and Bureau of Land Management have deemed the Mine Plan of Operations administratively complete. This development paves the way for the next stage of the federal permitting process, including the National Environmental Policy Act review, which will involve extensive stakeholder engagement and environmental impact studies. The achievement underscores Liberty Gold’s commitment to advancing the project under a collaborative framework with federal and state agencies, aligning with Idaho’s strategic permitting initiatives.

The most recent analyst rating on (TSE:LGD) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold Advances Feasibility Study for Black Pine Project

Liberty Gold has commenced the Feasibility Study engineering phase for its Black Pine Oxide Gold Project in Idaho, marking a significant step towards completing the Full Feasibility Study by early Q4 2026. The company has re-engaged M3 Engineering & Technology Corp. as the lead consultant, along with other key consultants from the Preliminary Feasibility Study phase, to ensure continuity and efficiency. This strategic move aims to solidify Liberty Gold’s position in the industry and prepare for construction readiness, highlighting the project’s potential impact on its operations and stakeholders.

The most recent analyst rating on (TSE:LGD) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.

Liberty Gold’s Strategic Moves and Project Advancements in Q3 2025

Liberty Gold Corp. announced significant developments in Q3 2025, including a strategic investment from Centerra Gold Inc., which acquired a 9.9% stake in the company, and the receipt of a staged payment for the sale of its interest in the TV Tower project. The company also strengthened its management team with key appointments to advance the Black Pine project, where recent metallurgical testing and drilling results indicate promising gold extraction rates and potential for resource expansion. These developments position Liberty Gold to enhance its operational capabilities and explore further growth opportunities.

The most recent analyst rating on (TSE:LGD) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Liberty Gold stock, see the TSE:LGD Stock Forecast page.