Want to see TSE:NCAU full AI Analyst Report?
Top Page
Newcore Gold
(NCAU)
Select Model
Select Model
Rating:45Neutral
Price Target:
C$0.33
▼(-49.70% Downside)
Action:Reiterated
Date:06/28/26
The score is primarily constrained by the pre-revenue financial profile with ongoing losses and negative cash flow, which increases funding/dilution risk despite a debt-free balance sheet. Technicals further weigh on the score given the strong downtrend across moving averages and negative MACD. Valuation provides limited support because earnings are negative and no dividend yield is available.
Positive Factors
Debt-free balance sheet
Maintaining zero debt materially reduces financial risk and interest burden, giving management flexibility to fund exploration via equity or project financing without debt covenants. For an early-stage miner this supports longer project timelines, lowers default risk and preserves capacity to respond to opportunities.
Negative Factors
Pre-revenue operating profile
Consistent zero revenue means cash generation depends entirely on advancing the Enchi project to a sale or production decision. This creates long lead times and project execution risk; until commercial production is achieved, the company lacks internal revenue to fund operations and de-risks remain tied to milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Maintaining zero debt materially reduces financial risk and interest burden, giving management flexibility to fund exploration via equity or project financing without debt covenants. For an early-stage miner this supports longer project timelines, lowers default risk and preserves capacity to respond to opportunities.
Read all positive factors
Newcore Gold (NCAU) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$96.69M
Dividend YieldN/A
Average Volume (3M)393.43K
Price to Earnings (P/E)―
Beta (1Y)1.70
Revenue GrowthN/A
EPS Growth61.72%
CountryCA
Employees41
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding284,385,040
10 Day Avg. Volume341,895
30 Day Avg. Volume393,426
Financial Highlights & Ratios
PEG Ratio1.17
Price to Book (P/B)2.35
Price to Sales (P/S)0.00
P/FCF Ratio-35.96
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)-0.02
Revenue Forecast (FY)N/A
Newcore Gold Business Overview & Revenue Model
Company Description
Newcore Gold Ltd. is a mining firm specializing in the exploration, acquisition, and progressive development of valuable mineral assets in Ghana. The company maintains full ownership of the Enchi gold project, a 216-square-kilometer site located i...
How the Company Makes Money
null...
Newcore Gold Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
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 | -44.61K | -39.98K | -16.33K | -11.29K | -9.35K | -6.41K |
| EBITDA | -5.53M | -5.02M | -4.05M | -1.94M | -2.62M | -4.01M |
| Net Income | -3.49M | -1.77M | -5.27M | -2.42M | -2.63M | -4.02M |
Balance Sheet | ||||||
| Total Assets | 79.21M | 69.33M | 56.75M | 46.23M | 44.51M | 40.39M |
| Cash, Cash Equivalents and Short-Term Investments | 7.94M | 4.18M | 5.15M | 3.75M | 3.59M | 5.53M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.74M | 3.64M | 6.89M | 170.25K | 492.97K | 1.31M |
| Stockholders Equity | 75.47M | 65.69M | 49.85M | 46.06M | 44.02M | 39.08M |
Cash Flow | ||||||
| Free Cash Flow | -2.17M | -4.29M | -2.68M | -1.99M | -6.91M | -18.36M |
| Operating Cash Flow | -4.87M | -4.26M | -2.68M | -1.99M | -2.19M | -2.53M |
| Investing Cash Flow | -16.59M | -15.28M | -4.63M | 287.90K | -2.90M | -8.61M |
| Financing Cash Flow | 14.51M | 18.44M | 8.69M | 4.92M | 5.12M | 10.67M |
Newcore Gold Technical Analysis
Negative
0.66
Price Trends
0.55
Negative
0.62
Negative
0.67
Negative
Market Momentum
-0.04
Positive
24.47
Positive
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NCAU, the sentiment is Negative. The current price of 0.66 is above the 20-day moving average (MA) of 0.49, above the 50-day MA of 0.55, and below the 200-day MA of 0.67, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 24.47 is Positive, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NCAU.
Newcore Gold Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | C$104.27M | 10.66 | 5.42% | 8.87% | 23.78% | -36.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$111.10M | 22.10 | 21.84% | ― | ― | 34.36% | |
48 Neutral | C$196.64M | -16.92 | -30.79% | ― | ― | 37.42% | |
45 Neutral | C$96.69M | -23.85 | -5.16% | ― | ― | 61.72% | |
44 Neutral | C$164.23M | -11.72 | -74.62% | ― | ― | -122.95% | |
42 Neutral | C$135.59M | -10.60 | 15.78% | ― | ― | ― |
* General Sector Average
TSE:NCAU
Newcore Gold
0.31
-0.30
-49.18%
TSE:PPP
Prospector Metals
1.21
0.99
450.00%
TSE:MGG
Minaurum Gold
0.32
0.09
39.13%
TSE:MJS
Majestic Gold
0.10
-0.05
-31.97%
TSE:XTG
Xtra-Gold Resource
2.35
0.30
14.63%
TSE:OMI
Orosur Mining
0.33
0.17
108.86%
Newcore Gold Corporate Events
Business Operations and Strategy
Newcore Gold Drilling at Enchi’s Sewum Deposit Points to Resource Growth Potential
Positive
Apr 8, 2026
Newcore Gold reported new diamond drill results from its 60,000-metre program at the Enchi Gold Project in Ghana, highlighted by hole SWDD107 intersecting 1.59 g/t gold over 15.5 metres, including 3.22 g/t over 6.4 metres, and hole SWDD112 returni...
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.