Nevgold Corp (NAU) AI Stock Analysis

• Market Cap: C$134.21M
• Dividend Yield: N/A
• Average Volume (3M): 433.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.10
• Revenue Growth: N/A
• EPS Growth: -38.35%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 131,581,850
• 10 Day Avg. Volume: 917,683
• 30 Day Avg. Volume: 433,067
• PEG Ratio: -0.95
• Price to Book (P/B): 0.82
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -9.14
• 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: 51 Neutral
• Price Target: C$1.00 ▼(-4.23% Downside)

The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and accelerating cash burn) and an unattractive earnings-based valuation (negative P/E with no dividend support). These are partially offset by strong technical strength, with the stock trading above key moving averages and showing positive momentum.

Positive Factors

Stronger equity base

Equity expansion gives the company a larger capital base to fund mine development and sustaining assets without immediately ramping leverage. A stronger equity buffer improves financing optionality and supports multi‑period project timelines common in mining, reducing short‑term refinancing risk.

Clear production-driven revenue model

A direct metals sales model ties revenue to physical production volumes and established third‑party buyers, providing a clear path to cash generation once operations scale. This durable link aligns incentives across operations, pricing exposure, and capital allocation decisions over multi‑year mine life cycles.

Transparent cash accounting

FCF closely following net income implies losses are cash‑based rather than large non‑cash accounting items, improving predictability of funding needs. For an exploration/development miner, transparent cash metrics aid realistic financing plans and reduce risk of hidden accrual adjustments distorting liquidity forecasts.

Negative Factors

No historical revenue

A pre‑revenue status means the business must rely on external capital rather than operations to sustain activity. Until production and sales commence at scale, the company lacks operating leverage, making long‑term viability contingent on successful project execution and continued financing availability.

Negative returns and widening losses

Negative ROE and increasing net losses indicate shareholder capital is being consumed rather than deployed productively. Over months this undermines equity value, raises the probability of diluted recapitalizations, and signals operational or development setbacks that must be addressed to achieve sustainable profitability.

Accelerating cash burn

Worsening cash burn increases dependence on external funding and shortens runway absent revenue. For a capital‑intensive miner, accelerating negative operating cash flow pressures project timelines, forces more frequent financing, and elevates dilution and execution risk over the coming 2–6 months unless cash generation reverses.

Nevgold Corp Business Overview & Revenue Model

Company Description

NevGold Corp. engages in the exploration and development of mineral properties. The company explores for gold and silver polymetallic deposits. It owns interests in the Limousine Butte and Cedar Wash projects in Nevada, the United States; and the Ptarmigan silver polymetallic project in British Columbia, Canada. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Nevgold Corp makes money primarily through the exploration and development of mineral resources, specifically gold and other precious metals. The company generates revenue by increasing the value of its mining projects through successful exploration and development strategies, which can lead to the sale of these assets to larger mining companies or the production and sale of extracted minerals. Additionally, Nevgold may engage in joint ventures or partnerships with other mining entities to share costs and risks, enhancing its financial position and enabling future growth. The company's earnings are significantly influenced by factors such as commodity prices, exploration success, and operational efficiency.

Nevgold Corp Financial Statement Overview

Summary

Pre-revenue profile with structurally negative profitability and widening losses in TTM. Cash burn remains significant and has worsened versus 2024, increasing dependence on external funding. The balance sheet is a partial offset with moderate leverage and expanded equity, but returns remain meaningfully negative.

Income Statement

The company reports no revenue across the historical periods provided, which limits operating leverage and keeps profitability structurally negative. Losses have widened in TTM (Trailing-Twelve-Months) (net loss of ~4.8M vs. ~3.5M in 2024), with EBITDA and EBIT also more negative, signaling rising spend without an offsetting topline. A modest positive is that losses have not been uniformly worsening every year (e.g., 2023 vs. 2022), but the overall earnings profile remains weak and highly dependent on external funding rather than business-generated income.

Balance Sheet

The balance sheet shows moderate leverage with debt-to-equity around ~0.15 in both 2024 and TTM (Trailing-Twelve-Months), which is not excessive on its face. Equity has grown over time (from ~5.9M in 2020 to ~25.1M in TTM), supporting a larger asset base (~31.3M in TTM). The key weakness is persistent negative returns on equity (about -20% in TTM), indicating shareholder capital is being consumed by ongoing losses, and total debt has increased materially since 2023, raising reliance on financing if losses continue.

Cash Flow

Cash generation is consistently negative, with operating cash flow and free cash flow both around -1.9M in TTM (Trailing-Twelve-Months). Cash burn appears to be accelerating versus 2024 (free cash flow growth ~-40% in TTM), increasing funding pressure. A relative positive is that free cash flow broadly tracks net income (free cash flow to net income ~1.0), suggesting losses are not being heavily masked by non-cash accounting items—but overall cash burn remains a central risk.

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	-70.26K	-68.88K	-67.91K	-62.45K	-9.14K	-3.86K
EBITDA	-4.44M	-3.35M	-2.31M	-2.44M	-2.88M	-73.18K
Net Income	-4.83M	-3.47M	-2.59M	-2.53M	-2.89M	-59.97K
Balance Sheet
Total Assets	31.29M	29.32M	22.28M	18.42M	11.11M	6.30M
Cash, Cash Equivalents and Short-Term Investments	2.22M	1.14M	151.52K	2.50M	2.76M	91.70K
Total Debt	3.67M	3.31M	210.74K	272.77K	301.50K	0.00
Total Liabilities	5.42M	5.76M	2.47M	825.73K	608.56K	351.77K
Stockholders Equity	25.06M	22.75M	18.81M	17.60M	10.50M	5.95M
Cash Flow
Free Cash Flow	-1.93M	-2.04M	-1.12M	-2.04M	-2.22M	-100.93K
Operating Cash Flow	-1.93M	-2.04M	-1.12M	-2.01M	-1.24M	-70.66K
Investing Cash Flow	-1.49M	-2.11M	-2.12M	-4.28M	-2.85M	-30.80K
Financing Cash Flow	5.09M	5.14M	875.97K	6.02M	6.88M	191.85K

Nevgold Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.04
• 50DMA: Positive
• 100DMA: Positive
• 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:NAU, the sentiment is Positive. The current price of 1.04 is below the 20-day moving average (MA) of 1.15, above the 50-day MA of 0.96, and above the 200-day MA of 0.53, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 42.76 is Neutral, neither overbought nor oversold. The STOCH value of 9.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NAU.

Nevgold Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EMPR	67 Neutral	C$137.79M	27.44	17.02%	―	112.93%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SCOT	52 Neutral	C$146.53M	-6.53	―	―	―	63.18%
VIPR	52 Neutral	C$156.38M	-8.12	-62.47%	―	―	-57.64%
NAU	51 Neutral	C$134.21M	-20.33	-20.26%	―	―	-38.35%
ELR	48 Neutral	C$109.89M	-3.54	-28.77%	―	-19.44%	-2980.00%
PGLD	46 Neutral	C$198.43M	109.59	36.70%	―	―	-66.51%

Nevgold Corp Corporate Events

NevGold Expands High-Grade Gold-Antimony Mineralization and Unveils New Oxide Gold Discovery at Limousine Butte

NevGold reported high-grade oxide antimony and gold intercepts from step-out drilling at the Bullet Zone within its Limousine Butte project, including 5.89% antimony over 3.0 meters within a broader 53.3-meter zone of gold-antimony mineralization, and confirmed mineralization continuity in both upper and lower zones that remain open at depth. The company also announced a new oxide gold discovery more than 150 meters east of prior drilling at Resurrection Ridge, validating its updated geological model and extending the mineralized footprint, while advancing a 30-hole 2025–2026 drill program, metallurgical work, leach-pad studies for potential near-term antimony production, and work toward an initial gold-antimony resource estimate that could strengthen its profile in Nevada’s critical minerals sector.

The most recent analyst rating on (TSE:NAU) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Nevgold Corp stock, see the TSE:NAU Stock Forecast page.

NevGold Targets Near-Term Antimony Output From Historic Leach Pads at Nevada’s Limousine Butte

NevGold has identified 2.4 million to 3.0 million tonnes of previously mined material in historical crushed and run-of-mine leach pads at its Limousine Butte project in Nevada, with consistent antimony grades averaging around 0.27–0.31% Sb and notable gold grades, including localized areas grading up to 0.81% Sb. Metallurgical work indicates antimony recoveries of up to 92% using on-site acid leaching, which could produce antimony metal without reliance on third-party smelters and with minimal impact on gold recovery, positioning the leach pads as a near-term production and cash flow opportunity while NevGold advances broader drilling, metallurgical studies, and a gold-antimony resource estimate across the project over the next 12–24 months.

The most recent analyst rating on (TSE:NAU) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Nevgold Corp stock, see the TSE:NAU Stock Forecast page.

NevGold Expands Antimony-Gold Footprint at Limousine Butte Project

NevGold Corp has expanded its Limousine Butte project in Nevada by staking an additional 90 claims, adding approximately 6 square kilometers of land with significant antimony-gold potential. The newly acquired area shares geological similarities with existing high-grade zones and features promising mineralization results, positioning the project as a key contributor to the growing demand for critical minerals and gold. The company continues extensive drilling and sampling programs to solidify its resource estimates and further unlock value for stakeholders.

NevGold Corp Expands High-Grade Antimony Discovery at Limousine Butte

NevGold Corp has announced significant high-grade antimony drill results at the newly discovered Bullet Zone within its Limousine Butte Project in Nevada. The discovery expands the gold-antimony mineralization footprint, and the company plans to advance the project to an initial Mineral Resource Estimate. This development positions NevGold strategically within the critical minerals market, given antimony’s importance in military applications. The company is also exploring the antimony-gold potential of historically mined leach pads at the site, which could further enhance its resource base.

NevGold Corp. Secures C$10 Million to Advance Key Projects

NevGold Corp. has successfully closed a C$10 million brokered private placement financing, enhancing its financial position to advance its asset portfolio, particularly the Limousine Butte gold-antimony project in Nevada, following a significant discovery. This financing reflects strong support from shareholders and positions NevGold to capitalize on government commitments to domestic critical mineral projects, while also progressing its projects in Idaho.

NevGold Corp. Announces C$10M Private Placement Financing

NevGold Corp. has announced a C$10 million brokered private placement financing agreement with Clarus Securities Inc. to advance its mineral projects in Nevada and Idaho. The funds will be used for the Limousine Butte gold-antimony project, Nutmeg Mountain gold project, Zeus copper project, and general corporate purposes, with the offering expected to close by November 27, 2025, pending necessary approvals.

NevGold Achieves Breakthrough in Antimony Recovery at Limousine Butte Project

NevGold Corp has announced successful Phase II metallurgical testwork results at its Limousine Butte Project in Nevada, achieving up to 85% recovery of antimony across various grades. This advancement is significant as it demonstrates the project’s strong geo-metallurgical characteristics and the potential for a combined gold-antimony mining operation. The use of acid leaching as a preferred process eliminates the need for third-party smelters, potentially enhancing operational efficiency. The ongoing drilling program and further exploration activities aim to advance the project towards a comprehensive gold-antimony Mineral Resource Estimate, which could strengthen NevGold’s position in the mining industry.

NevGold Achieves High Antimony Recovery at Limousine Butte Project

NevGold Corp has announced positive results from its Phase II metallurgical testwork at the Limousine Butte Project in Nevada, achieving up to 85% recovery of antimony without affecting gold recovery. This development is significant as it enhances the project’s potential by confirming the effectiveness of acid leaching for antimony extraction, which could lead to on-site production without relying on external smelters. The ongoing drill program and further exploration efforts aim to advance the project towards a comprehensive gold-antimony Mineral Resource Estimate, potentially boosting NevGold’s position in the mining industry.