Treasury Metals J (TSE:NEXG)
:NEXG
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Treasury Metals
(NEXG)
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Rating:43Neutral
Price Target:
C$1.50
▼(-15.25% Downside)
Action:Reiterated
Date:05/16/26
The score is primarily pressured by pre-revenue operations with widening losses and accelerating cash burn, increasing ongoing financing/dilution risk. Technicals also point to a weak trend with negative momentum. A low-leverage balance sheet provides some stability, but it is outweighed by the lack of revenue and sustained negative cash flows.
Positive Factors
Low financial leverage
A very low debt-to-equity (~0.03) materially reduces refinancing and interest-burden risk for a development-stage miner. This durable strength gives the company flexibility to pursue permitting and studies without urgent debt maturities, supporting multi-month project advancement.
Negative Factors
No operating revenue
Absence of operating revenue means all activity burns capital rather than generating cash. Persistent negative gross profit and widening net losses erode the capital base over time and make the business dependent on external funding until production, a structural constraint for months ahead.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
A very low debt-to-equity (~0.03) materially reduces refinancing and interest-burden risk for a development-stage miner. This durable strength gives the company flexibility to pursue permitting and studies without urgent debt maturities, supporting multi-month project advancement.
Read all positive factors
Treasury Metals (NEXG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$243.76M
Dividend YieldN/A
Average Volume (3M)1.14M
Price to Earnings (P/E)―
Beta (1Y)2.06
Revenue GrowthN/A
EPS Growth25.70%
CountryCA
Employees22
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)-0.23
Shares Outstanding170,458,300
10 Day Avg. Volume1,290,026
30 Day Avg. Volume1,141,039
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.23
Price to Sales (P/S)0.00
P/FCF Ratio-8.22
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)-0.11
Revenue Forecast (FY)C$213.00M
Treasury Metals Business Overview & Revenue Model
Company Description
NeXGold Mining Corp. operates as a gold exploration and development company in Canada. The company's flagship asset is the 100%-owned Goliath Gold Complex, an advanced stage high-grade gold deposit near Dryden, Ontario, which includes the Goliath,...
How the Company Makes Money
Treasury Metals is a pre-production mineral exploration/development company; as such, it typically does not generate recurring operating revenue from gold sales unless it is producing (no such revenue information is provided here). Its economic mo...
Treasury Metals Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -836.85K | -836.44K | -455.83K | -202.38K | -235.74K | -124.54K |
| EBITDA | -41.42M | -37.83M | -18.16M | -12.26M | -20.19M | -15.01M |
| Net Income | -42.95M | -40.99M | -19.59M | -13.39M | -20.29M | -15.93M |
Balance Sheet | ||||||
| Total Assets | 254.31M | 256.45M | 191.48M | 117.68M | 123.74M | 132.17M |
| Cash, Cash Equivalents and Short-Term Investments | 105.95M | 109.17M | 20.28M | 10.10M | 16.68M | 10.78M |
| Total Debt | 8.34M | 7.82M | 25.30M | 16.94M | 18.41M | 5.41M |
| Total Liabilities | 17.34M | 15.77M | 32.21M | 18.22M | 19.65M | 9.40M |
| Stockholders Equity | 236.97M | 240.68M | 159.27M | 99.46M | 104.09M | 122.76M |
Cash Flow | ||||||
| Free Cash Flow | -37.47M | -36.10M | -15.07M | -11.32M | -17.81M | -17.96M |
| Operating Cash Flow | -37.26M | -35.93M | -15.02M | -11.31M | -17.79M | -17.82M |
| Investing Cash Flow | 3.88M | 6.08M | 24.75M | -13.56K | 14.20M | 150.62K |
| Financing Cash Flow | 106.74M | 101.19M | -2.76M | 4.73M | 9.52M | 23.33M |
Treasury Metals Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$414.30M | -64.18 | -3.14% | ― | ― | -34.97% | |
47 Neutral | C$385.32M | -88.74 | -1.51% | ― | ― | ― | |
44 Neutral | C$327.42M | -18.50 | -8.10% | ― | ― | 47.58% | |
43 Neutral | C$243.76M | -8.01 | -22.30% | ― | ― | 25.70% | |
41 Neutral | C$251.21M | -5.17 | -72.34% | ― | ― | -147.70% | |
| ― | C$911.53M | -33.01 | -7.77% | ― | ― | -182.91% |
* General Sector Average
TSE:NEXG
Treasury Metals
1.43
0.67
88.16%
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TSE:WGO
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605.66%
Treasury Metals Corporate Events
Business Operations and Strategy
NexGold Drilling Extends Goldlund Zone 4 Mineralization and Targets Resource Upgrade
Positive
Apr 10, 2026
NexGold Mining Corp. reported new diamond drilling results from its ongoing 25,000-metre program at the Goldlund Deposit, part of the Goliath Gold Complex in Ontario. The latest holes in Zone 4, including intercepts such as 1.79 g/t gold over 25.6...
Business Operations and Strategy
NexGold Starts 30,000-Metre Infill Drill Program at Goldboro Project
Positive
Mar 25, 2026
NexGold Mining Corp. has launched a 30,000‑metre reverse circulation infill drilling program at its Goldboro Gold Project in Nova Scotia, targeting shallow zones expected to supply the first years of production. The closely spaced drilling a...
Business Operations and Strategy
NexGold Hits High-Grade Gold in Goldlund Infill Drilling at Goliath Complex
Positive
Feb 25, 2026
NexGold Mining reported new diamond drill results from its ongoing 25,000-metre program at the Goldlund deposit within the Goliath Gold Complex in Ontario, highlighting intersections such as 9.30 g/t gold over 11.0 metres and 2.31 g/t gold over 21...
Business Operations and Strategy
NexGold to Court Investors at Red Cloud Pre-PDAC Mining Showcase
Positive
Feb 24, 2026
NexGold Mining Corp. will showcase its portfolio at the Red Cloud Pre-PDAC Mining Showcase 2026 in Toronto, seeking to strengthen investor awareness ahead of the major PDAC conference. The company’s CFO, Orin Baranowsky, is scheduled to pres...
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.
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