P2 Gold (TSE:PGLD)
:PGLD
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P2 Gold
(PGLD)
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Rating:48Neutral
Price Target:
C$0.83
▲(24.18% Upside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (no revenue, worsening losses, and accelerating cash burn), despite improved leverage. Technicals provide some support with mildly positive momentum and price holding above short-term averages, but valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Improved leverage
Balance sheet leverage fell sharply in TTM 2026 (debt-to-equity ~0.05 vs ~3.29 in 2025), reducing solvency and refinancing pressure. For a junior explorer this materially improves financing flexibility and lowers bankruptcy risk, increasing runway to advance projects before the next raise.
Negative Factors
Pre-revenue status
With no revenue reported across periods, P2 Gold remains entirely pre‑revenue, meaning operational value depends on exploration success and future development. This creates long lead times to cash generation and sustained dependence on external capital, increasing execution and funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Balance sheet leverage fell sharply in TTM 2026 (debt-to-equity ~0.05 vs ~3.29 in 2025), reducing solvency and refinancing pressure. For a junior explorer this materially improves financing flexibility and lowers bankruptcy risk, increasing runway to advance projects before the next raise.
Read all positive factors
P2 Gold (PGLD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$211.28M
Dividend YieldN/A
Average Volume (3M)899.82K
Price to Earnings (P/E)―
Beta (1Y)2.72
Revenue GrowthN/A
EPS Growth-2651.52%
CountryCA
Employees4
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.08
Shares Outstanding260,841,060
10 Day Avg. Volume1,396,636
30 Day Avg. Volume899,819
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)50.01
Price to Sales (P/S)0.00
P/FCF Ratio-38.58
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)>-0.01
Revenue Forecast (FY)N/A
P2 Gold Business Overview & Revenue Model
Company Description
P2 Gold Inc., a junior mining company, engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. It primarily explores for gold, copper, silver, lead, and zinc deposits. The company holds an in...
How the Company Makes Money
As an exploration and development-stage company, P2 Gold does not primarily generate recurring revenue from selling gold or other metals unless it has an operating mine in production (null for confirmed current production-based revenue). Instead, ...
P2 Gold Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
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 | -24.04K | -24.16K | -36.25K | -164.00K | -151.00K | -129.00K |
| EBITDA | -12.58M | -4.94M | 4.29M | -6.09M | -14.70M | -27.58M |
| Net Income | -19.19M | -10.09M | 4.15M | -4.46M | -12.94M | -27.39M |
Balance Sheet | ||||||
| Total Assets | 10.82M | 11.13M | 685.10K | 310.64K | 2.41M | 8.45M |
| Cash, Cash Equivalents and Short-Term Investments | 10.02M | 10.32M | 539.95K | 46.61K | 1.47M | 7.80M |
| Total Debt | 505.02K | 7.50M | 2.36M | 545.00K | 133.45K | 251.07K |
| Total Liabilities | 1.44M | 8.85M | 2.89M | 9.67M | 12.25M | 12.90M |
| Stockholders Equity | 9.38M | 2.28M | -2.21M | -9.36M | -9.83M | -4.45M |
Cash Flow | ||||||
| Free Cash Flow | -8.38M | -2.96M | -1.64M | -4.70M | -13.39M | -7.69M |
| Operating Cash Flow | -8.36M | -2.96M | -1.64M | -4.70M | -13.30M | -7.61M |
| Investing Cash Flow | 750.58K | 32.29K | 1.83K | -98.00 | 70.98K | -223.04K |
| Financing Cash Flow | 16.80M | 12.31M | 2.13M | 3.27M | 6.90M | 14.00M |
P2 Gold Technical Analysis
Positive
0.67
Price Trends
0.72
Positive
0.78
Positive
0.56
Positive
Market Momentum
0.02
Negative
55.88
Neutral
35.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PGLD, the sentiment is Positive. The current price of 0.67 is below the 20-day moving average (MA) of 0.76, below the 50-day MA of 0.72, and above the 200-day MA of 0.56, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.88 is Neutral, neither overbought nor oversold. The STOCH value of 35.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PGLD.
P2 Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | C$211.28M | -5.15 | -385.60% | ― | ― | -2651.52% | |
46 Neutral | C$245.27M | -62.86 | -2.96% | ― | ― | -80.21% | |
| ― | C$165.79M | -4.12 | -62.15% | ― | ― | -5.26% | |
59 Neutral | C$295.11M | 2.13 | -4.33% | ― | 32.29% | -179.53% | |
52 Neutral | C$91.63M | -2.24 | -571.01% | ― | ― | -198.75% | |
41 Neutral | C$89.98M | -6.69 | 215.19% | ― | -29.42% | -59.79% |
* Basic Materials Sector Average
TSE:PGLD
P2 Gold
0.81
0.70
650.00%
TSE:CKG
Chesapeake Gold
3.19
2.21
225.51%
TSE:OCG
Outcrop Gold Corp
0.34
0.13
61.90%
TSE:ORV
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2.16
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292.73%
TSE:NVRO
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0.17
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88.89%
TSE:SGO
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0.25
0.11
85.19%
P2 Gold Corporate Events
Business Operations and Strategy
P2 Gold’s Lucky Strike Drilling Points to Expanding Gold‑Copper Core at Gabbs
Positive
Apr 8, 2026
P2 Gold reported additional reverse circulation drill results from the Lucky Strike Zone at its Gabbs Project in Nevada, highlighted by broad intersections such as 0.90 grams per tonne gold and 0.34% copper over 48.77 meters, including a higher...
Business Operations and Strategy
P2 Gold Secures Key Water Rights for Nevada Gabbs Project
Positive
Apr 2, 2026
P2 Gold has signed a definitive agreement through its subsidiary P2 Gabbs Inc. to acquire 2,500 acre-feet per year of water rights in Nevada’s Gabbs Basin for its Gabbs Project. The water rights, which exceed the project’s current esti...
Business Operations and StrategyPrivate Placements and Financing
P2 Gold Secures Key Water Rights and Converts Debt to Equity at Gabbs Project
Positive
Mar 25, 2026
P2 Gold has secured an agreement to acquire 2,500 acre-feet per year of water rights in Nevada’s Gabbs Basin, providing a supply that exceeds the Gabbs Project’s current projected process water needs and allows for potential expansion....
Business Operations and Strategy
P2 Gold Confirms Strong Gold-Copper Intercepts at Gabbs’ Lucky Strike Zone
Positive
Mar 3, 2026
P2 Gold reported additional drill results from the Lucky Strike Zone at its Gabbs Project in Nevada, where recent reverse circulation holes intersected broad intervals of gold and copper mineralization, including up to 0.71 g/t gold and 0.31% copp...
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.