P2 Gold (TSE:PGLD)
:PGLD
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P2 Gold
(PGLD)
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Rating:45Neutral
Price Target:
C$0.70
▲(4.78% Upside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn, and reliance on external financing), despite some balance-sheet improvement in 2025. Technicals also remain bearish with negative trend signals, while valuation is difficult to assess due to negative earnings and no dividend support.
Positive Factors
Balance-sheet repair
The shift to positive equity and a larger asset base in 2025 indicates the company has recently repaired balance-sheet strains, improving solvency and providing a firmer platform to fund near-term exploration and permitting. That structural repair reduces immediate liquidity and covenant risk and helps sustain project advancement over the coming quarters.
Negative Factors
No revenue / pre-revenue profile
The company remains pre-revenue with recurring operating losses, so it cannot self-fund exploration or development from operations. This structural lack of operating cash inflow means long-term progress depends on external capital or partner deals, increasing dilution and execution risk until a monetization event occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet repair
The shift to positive equity and a larger asset base in 2025 indicates the company has recently repaired balance-sheet strains, improving solvency and providing a firmer platform to fund near-term exploration and permitting. That structural repair reduces immediate liquidity and covenant risk and helps sustain project advancement over the coming quarters.
Read all positive factors
P2 Gold (PGLD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$182.59M
Dividend YieldN/A
Average Volume (3M)899.82K
Price to Earnings (P/E)―
Beta (1Y)2.76
Revenue GrowthN/A
EPS Growth-66.51%
CountryCA
Employees4
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.05
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
18
Very Negative
Balance Sheet
30
Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -24.16K | -36.25K | -164.00K | -151.00K | -129.00K |
| EBITDA | -4.94M | 4.29M | -6.09M | -14.70M | -27.58M |
| Net Income | -10.09M | 4.15M | -4.46M | -12.94M | -27.39M |
Balance Sheet | |||||
| Total Assets | 11.13M | 685.10K | 310.64K | 2.41M | 8.45M |
| Cash, Cash Equivalents and Short-Term Investments | 10.32M | 539.95K | 46.61K | 1.47M | 7.80M |
| Total Debt | 7.50M | 2.36M | 545.00K | 133.45K | 251.07K |
| Total Liabilities | 8.85M | 2.89M | 9.67M | 12.25M | 12.90M |
| Stockholders Equity | 2.28M | -2.21M | -9.36M | -9.83M | -4.45M |
Cash Flow | |||||
| Free Cash Flow | -2.96M | -1.64M | -4.70M | -13.39M | -7.69M |
| Operating Cash Flow | -2.96M | -1.64M | -4.70M | -13.30M | -7.61M |
| Investing Cash Flow | 32.29K | 1.83K | -98.00 | 70.98K | -223.04K |
| Financing Cash Flow | 12.31M | 2.13M | 3.27M | 6.90M | 14.00M |
P2 Gold Technical Analysis
Positive
0.67
Price Trends
0.77
Negative
0.70
Negative
0.47
Positive
Market Momentum
-0.02
Negative
48.87
Neutral
70.54
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 above the 20-day moving average (MA) of 0.66, below the 50-day MA of 0.77, and above the 200-day MA of 0.47, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 48.87 is Neutral, neither overbought nor oversold. The STOCH value of 70.54 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% | |
56 Neutral | C$227.53M | -22.04 | -2.40% | ― | ― | 14.96% | |
45 Neutral | C$182.59M | -11.30 | -418.93% | ― | ― | -66.51% | |
| ― | C$152.81M | -4.12 | -62.15% | ― | ― | -28.64% | |
52 Neutral | C$77.26M | -2.24 | -571.01% | ― | ― | ― | |
41 Neutral | C$66.81M | -6.69 | 215.19% | ― | ― | -16.67% | |
40 Underperform | C$274.61M | -7.27 | -42.64% | ― | 12.51% | -150.40% |
* Basic Materials Sector Average
TSE:PGLD
P2 Gold
0.70
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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...
Business Operations and Strategy
P2 Gold’s Early Lucky Strike Drilling at Gabbs Confirms Thick Gold-Copper Zones
Positive
Feb 18, 2026
P2 Gold reported initial reverse circulation infill and expansion drilling results from the Lucky Strike Zone at its Gabbs gold-copper project in Nevada, with several holes intersecting broad intervals of gold-dominant and copper-gold mineralizati...
Business Operations and Strategy
P2 Gold Drill Results at Gabbs’ Sullivan Zone Support Resource Model and Feasibility Timeline
Positive
Feb 4, 2026
P2 Gold reported final results from the initial phase of its infill and expansion reverse circulation drilling at the Sullivan Zone of its Gabbs Project in Nevada, with seven additional holes confirming consistent gold-copper mineralization and su...
Business Operations and Strategy
P2 Gold’s Latest Gabbs Drilling Confirms and Expands Sullivan Zone Mineralization
Positive
Jan 14, 2026
P2 Gold reported additional reverse circulation drill results from the Sullivan Zone at its Gabbs Project in Nevada, with 11 new holes confirming and locally expanding gold-copper mineralization consistent with the existing resource model. The lat...
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.