Montage Gold Corp. (TSE:MAU)
TSX:MAU
Want to see TSE:MAU full AI Analyst Report?
Top Page
Montage Gold Corp.
(TSX:MAU)
Select Model
Select Model
Rating:49Neutral
Price Target:
C$15.00
▼(-11.92% Downside)
Action:Reiterated
Date:05/16/26
The score is held down primarily by weak financial performance (no revenue, large losses, and significant cash burn with very negative free cash flow). Technicals are comparatively supportive with price above major moving averages and positive momentum indicators, but the negative P/E and lack of dividend limit valuation support.
Positive Factors
Low leverage / equity cushion
Balance sheet shows modest debt (TTM ~6.4M; zero in 2025) alongside a substantial equity base (~110.2M TTM). Low leverage gives financial flexibility for multi-stage exploration, lowering near-term default risk and supporting continued project funding without heavy interest costs.
Negative Factors
No revenue / ongoing net losses
Montage is a pre-production developer with zero reported revenue and sustained net losses (TTM ~-40.3M). Without production or revenue visibility, the firm remains reliant on external funding and faces execution risk to reach cash-generating operations, making long-term viability contingent on project success.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / equity cushion
Balance sheet shows modest debt (TTM ~6.4M; zero in 2025) alongside a substantial equity base (~110.2M TTM). Low leverage gives financial flexibility for multi-stage exploration, lowering near-term default risk and supporting continued project funding without heavy interest costs.
Read all positive factors
Montage Gold Corp. (MAU) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$5.44B
Dividend YieldN/A
Average Volume (3M)503.17K
Price to Earnings (P/E)―
Beta (1Y)1.98
Revenue GrowthN/A
EPS Growth58.03%
CountryCA
Employees35
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.12
Shares Outstanding364,309,500
10 Day Avg. Volume480,948
30 Day Avg. Volume503,169
Financial Highlights & Ratios
PEG Ratio1.59
Price to Book (P/B)30.24
Price to Sales (P/S)0.00
P/FCF Ratio-8.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$18.90Price Target Upside10.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)C$101.82M
Montage Gold Corp. Business Overview & Revenue Model
Company Description
Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 1,442 square kilometers located in the ...
How the Company Makes Money
null...
Montage Gold Corp. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
63
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -994.60K | -802.81K | 0.00 | -231.38K | -190.98K | -181.01K |
| EBITDA | -36.56M | -33.19M | -68.47M | -24.19M | -8.62M | -23.33M |
| Net Income | -40.27M | -50.45M | -67.66M | -24.42M | -9.89M | -23.46M |
Balance Sheet | ||||||
| Total Assets | 738.35M | 731.14M | 368.40M | 45.69M | 51.97M | 23.41M |
| Cash, Cash Equivalents and Short-Term Investments | 84.37M | 207.02M | 165.49M | 6.72M | 8.69M | 10.71M |
| Total Debt | 6.43M | 0.00 | 553.00K | 139.55K | 0.00 | 0.00 |
| Total Liabilities | 628.47M | 614.70M | 162.97M | 1.34M | 2.17M | 1.10M |
| Stockholders Equity | 110.19M | 116.64M | 205.28M | 44.34M | 49.80M | 22.31M |
Cash Flow | ||||||
| Free Cash Flow | -473.64M | -395.58M | -92.08M | -17.79M | -8.18M | -22.79M |
| Operating Cash Flow | -20.52M | -35.18M | -45.77M | -17.41M | -7.93M | -22.62M |
| Investing Cash Flow | -443.21M | -360.58M | -116.53M | 184.50K | -15.08M | -169.95K |
| Financing Cash Flow | 527.77M | 473.15M | 321.49M | 15.86M | 21.26M | 45.00K |
Montage Gold Corp. Technical Analysis
Negative
17.03
Price Trends
14.85
Negative
13.83
Positive
10.28
Positive
Market Momentum
>-0.01
Negative
44.45
Neutral
57.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAU, the sentiment is Negative. The current price of 17.03 is above the 20-day moving average (MA) of 14.36, above the 50-day MA of 14.85, and above the 200-day MA of 10.28, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 44.45 is Neutral, neither overbought nor oversold. The STOCH value of 57.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MAU.
Montage Gold Corp. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | C$4.03B | 7.85 | 46.09% | ― | 59.18% | 115.75% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$4.35B | -158.93 | -6.39% | ― | ― | -408.67% | |
51 Neutral | C$4.85B | -16.93 | -34.14% | ― | 51.21% | 7.83% | |
49 Neutral | C$5.44B | -179.86 | -34.88% | ― | ― | 58.03% | |
49 Neutral | C$2.65B | -15.46 | -64.06% | ― | ― | -84.02% | |
47 Neutral | C$1.73B | -4.05 | -66.87% | ― | 135.64% | 18.28% |
* Basic Materials Sector Average
TSE:MAU
Montage Gold Corp.
14.01
10.01
250.25%
TSE:SEA
Seabridge Gold
37.89
20.83
122.10%
TSE:WDO
Wesdome Gold Mines
26.88
8.47
46.01%
TSE:SGD
Snowline Gold Corp.
14.42
7.05
95.66%
TSE:IAU
i-80 Gold Corp
2.01
1.26
168.00%
TSE:AAUC
Allied Gold Corporation
38.00
20.30
114.69%
Montage Gold Corp. Corporate Events
Business Operations and Strategy
Montage Gold Expands African Footprint With New Mauritania Exploration Permits
Positive
Apr 14, 2026
Montage Gold Corp. has secured five greenfield gold exploration permits in northern Mauritania, covering about 2,103 square kilometres of Birimian greenstone belts following a competitive tender and due diligence process. The tenements are positio...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Montage Gold Wins African Gold Investor Backing for Acquisition Schemes
Positive
Apr 13, 2026
Montage Gold Corp. reported that shareholders and optionholders of African Gold Limited have voted in favour of schemes of arrangement for Montage to acquire 100% of African Gold’s shares and to cancel its options in exchange for new Montage...
Business Operations and Strategy
Montage Gold Lifts Koné Project Resources and Grades Ahead of First Pour
Positive
Mar 30, 2026
Montage Gold has reported a significant upgrade to the mineral resources at its Koné project in Côte d’Ivoire, driven by 174,000 meters of drilling in 2025 across the main Koné and Gbongogo Main deposits and satellite targets....
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.