Nation Gold Corp. (NATN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 21.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.91
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 16,329,920
• 10 Day Avg. Volume: 24,850
• 30 Day Avg. Volume: 21,865
• PEG Ratio: 0.66
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.25
• 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: 48 Neutral
• Price Target: C$0.17 ▼(-6.67% Downside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is held back primarily by the absence of revenue and ongoing negative cash flow despite improving loss control. A debt-free balance sheet provides some financial stability, while technical indicators suggest only mixed, modest momentum and valuation remains constrained by unprofitability.

Positive Factors

Debt-free balance sheet

A zero-debt capital structure materially reduces fixed financing costs and bankruptcy risk, giving management flexibility to finance exploration or operations via equity or internal cash. This durable strength improves resilience during prolonged cash burn or volatile commodity cycles.

Equity cushion and improving ROE

A remaining equity cushion plus steadily improving return on equity indicates reduced value erosion and that loss control measures are having effect. This trend supports longer runway and lessens immediate solvency risk compared with peers who have eroded equity or heavy leverage.

Narrowing losses through cost control

Consistent reduction in net losses shows durable improvement in operating discipline and cost structure. If maintained, tighter loss profiles reduce future financing needs and increase the chance of reaching break-even, a fundamental step toward sustainable operations.

Negative Factors

No reported revenue

Zero reported revenue is a structural weakness: without demonstrated top-line generation, margins remain hypothetical and the business model lacks proof of commercialization. Long-term viability hinges on creating sustainable revenues, not just expense control.

Ongoing negative cash flow

Persistently negative operating and free cash flows mean the company consumes cash to operate, requiring recurring financing or asset sales unless reversed. This structural cash burn elevates dilution and funding risk over the medium term despite improvements from peak outflows.

Shrinking equity from accumulated losses

Declining shareholders' equity erodes the balance-sheet buffer against shocks and reduces optionality for investing in growth. Combined with no revenue and negative cash flow, declining equity raises the likelihood of future dilution or asset monetization to fund operations.

Nation Gold Corp. Business Overview & Revenue Model

Company Description

Nation Gold Corp. engages in the acquisition, exploration, and development of mineral resource properties. The company explores for gold and silver deposits. It holds a 100% interest in the Cattle Creek property comprising 4 mineral claims that cover an area of 539.16 hectares located in the southern Monashee Pass area, Vernon Mining Division, British Columbia. The company was incorporated in 2017 and is headquartered in Vancouver, Canada.

Nation Gold Corp. Financial Statement Overview

Summary

Losses have narrowed materially (net loss improved to about -62k in 2025) and the company carries no debt, but it reports zero revenue across all periods and continues to post negative operating and free cash flow (2025 OCF about -65k; FCF about -87k), keeping business and funding risk elevated.

Income Statement

The company reports no revenue across all provided annual periods, which limits visibility into operating progress and keeps profitability structurally negative. Losses have narrowed materially versus 2022–2023 (net loss improved from about -264k in 2022 and -166k in 2023 to about -82k in 2024 and -62k in 2025), showing better cost control. However, margins are effectively non-existent due to zero revenue, and the business remains loss-making with no clear top-line trajectory in the data.

Balance Sheet

The balance sheet is conservatively financed with zero reported debt, reducing financial risk and interest burden. Equity remains sizable (about 890k in 2025), providing a cushion, though it has trended down from 2022–2025 as losses accumulated (equity ~1.14M in 2022 to ~0.89M in 2025). Returns on equity are negative each year, but the magnitude has improved meaningfully (from roughly -23% in 2022 to about -7% in 2025), indicating reduced value erosion even as profitability remains negative.

Cash Flow

Cash generation is weak: operating cash flow is negative in most years and is still negative in 2025 (about -65k), with free cash flow also negative (about -87k). While cash burn has improved substantially versus the very large outflow in 2022 (operating and free cash flow around -559k), the company has not demonstrated consistent, sustainable positive cash flow (2021 was positive but not repeated). Free cash flow growth is volatile and less meaningful given negative base cash flows, and ongoing cash burn implies potential future financing needs despite the debt-free structure.

Breakdown	TTM	Apr 2025	Apr 2024	Apr 2023	Apr 2022	Apr 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	-72.28K	0.00	0.00	-165.79K	-263.87K	-219.01K
Net Income	-65.32K	-61.88K	-82.15K	-165.79K	-263.87K	-219.01K
Balance Sheet
Total Assets	883.39K	891.48K	956.65K	1.04M	1.14M	582.38K
Cash, Cash Equivalents and Short-Term Investments	683.92K	692.74K	779.85K	857.28K	980.63K	436.15K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	3.13K	1.05K	4.34K	3.20K	3.67K	286.55K
Stockholders Equity	880.27K	890.43K	952.31K	1.03M	1.14M	295.84K
Cash Flow
Free Cash Flow	-86.34K	-87.11K	-77.44K	-123.34K	-559.27K	6.13K
Operating Cash Flow	-64.27K	-65.05K	-57.53K	-106.36K	-559.27K	21.75K
Investing Cash Flow	-22.07K	-22.07K	-19.91K	-16.98K	0.00	-15.63K
Financing Cash Flow	0.00	0.00	0.00	0.00	1.10M	428.53K

Nation Gold Corp. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NATN, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.23, below the 50-day MA of 0.22, and above the 200-day MA of 0.14, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 37.26 is Neutral, neither overbought nor oversold. The STOCH value of 7.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NATN.

Nation Gold Corp. 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%
NUG	49 Neutral	C$1.23M	-54.68	-88.34%	―	―	99.38%
NATN	48 Neutral	―	-26.13	―	―	―	―
STW	43 Neutral	C$982.78K	-9.21	-10.56%	―	―	67.32%
KGC	42 Neutral	C$3.81M	-34.21	-22.19%	―	―	-4.55%
LP	34 Underperform	C$1.24M	-3.84	―	―	―	―

Nation Gold Corp. Corporate Events

Nation Gold Begins OTCQB Trading to Expand U.S. Investor Reach

Nation Gold Corp., a Vancouver-based exploration company targeting large precious metals deposits in Tier 1 jurisdictions, recently secured a definitive agreement to acquire the historic Bonito gold-silver project in New Mexico and also holds the Cattle Creek Project in British Columbia. The company is led by experienced mining, exploration and capital markets professionals aiming to unlock value from underexplored, historically productive assets.

Nation Gold has commenced trading on the OTCQB Venture Market in the U.S. under the symbol NATNF, while its shares continue to trade on the Canadian Securities Exchange under NATN. The OTCQB listing is intended to expand the company’s visibility, broaden its U.S. shareholder base and improve trading liquidity, positioning Nation Gold to better access U.S. equity capital as it advances its growing project portfolio.

The most recent analyst rating on (TSE:NATN) stock is a Hold with a C$0.23 price target. To see the full list of analyst forecasts on Nation Gold Corp. stock, see the TSE:NATN Stock Forecast page.

Nation Gold Revises Private Placement Terms and Hires IR Firm Momentum

Nation Gold Corp. has amended the terms of its non-brokered private placement, now targeting up to 7.5 million units at $0.20 each for gross proceeds of up to $1.5 million, with an option to increase to 7.8 million units and $1.56 million. Each unit comprises one common share and one-half warrant, exercisable at $0.25 for 24 months, with proceeds earmarked for general working capital and closing expected around March 13, 2026, subject to Canadian Securities Exchange policies and a four-month hold period.

The company may pay cash and warrant-based finder’s fees to arm’s length intermediaries and has engaged Momentum Public Relations Inc. for a six-month mandate to provide strategic business development and investor relations services. Momentum will receive a monthly cash fee and 400,000 stock options that vest over six months, aligning investor outreach and market awareness efforts with Nation Gold’s ongoing financing and its planned acquisition and advancement of the Bonito Project.

The most recent analyst rating on (TSE:NATN) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Nation Gold Corp. stock, see the TSE:NATN Stock Forecast page.

Nation Gold to Acquire 100% of Bonito Gold-Silver Project in New Mexico

Nation Gold Corp. has signed a definitive agreement for its U.S. subsidiary to acquire 100% of the Bonito gold-silver project in the Nogal-Bonito Mining District of New Mexico, a 25-claim property with road access, nearby infrastructure and a history of precious metals production in the region. The Bonito project has seen roughly US$10 million in historical exploration by previous operators, including 75 shallow drill holes totaling about 3,000 metres, historical underground development and multiple gold-bearing breccia zones, but it has never been drill-tested below 120 metres despite indications of a near-surface gold-silver system overlying a potentially larger porphyry-style copper-gold-molybdenum target. Management frames the acquisition as a share-based deal that preserves cash for a planned 2026 exploration program and aligns with Nation Gold’s strategy of securing underexplored, scalable gold assets in supportive jurisdictions at a time of rising gold and silver prices and a new U.S. federal designation of the metals as strategic, potentially enhancing the project’s strategic importance for shareholders and stakeholders.

The most recent analyst rating on (TSE:NATN) stock is a Hold with a C$0.30 price target. To see the full list of analyst forecasts on Nation Gold Corp. stock, see the TSE:NATN Stock Forecast page.