Red Lake Gold Inc (RGLD) AI Stock Analysis

• Market Cap: C$3.27M
• Dividend Yield: N/A
• Average Volume (3M): 6.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.34
• Revenue Growth: N/A
• EPS Growth: -539.74%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 64
• Industry: Gold
• EPS (TTM): -0.05
• Shares Outstanding: 50,239,170
• 10 Day Avg. Volume: 4,550
• 30 Day Avg. Volume: 6,645
• PEG Ratio: 0.27
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -9.82
• 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

• Rating: 41 Neutral
• Price Target: ―

Red Lake Gold Inc's overall score reflects a challenging operational and financial position. The lack of revenue, persistent losses, and negative cash flow are significant risks. Technical analysis shows bearish momentum, further weighing on the stock’s prospects. Valuation metrics are negative, with no earnings and no dividend yield to attract investors. Recent corporate events underline the reliance on external funding and potential legal risks, impacting the stock outlook negatively.

Red Lake Gold Inc Business Overview & Revenue Model

Company Description

Red Lake Gold Inc. acquires and explores for mineral properties in Canada. The company primarily explores for gold deposits. Its principal project is the Whirlwind Jack gold project comprising 1,042 mining claims covering an area of approximately 21,238 hectares located near Red Lake, Ontario. The company was formerly known as Pivit Exploration Inc. and changed its name to Red Lake Gold Inc. in July 2019. Red Lake Gold Inc. was incorporated in 2017 and is based in Vancouver, Canada.

How the Company Makes Money

Red Lake Gold Inc. generates revenue primarily through the exploration and development of gold mining projects. The company invests in geological surveys, drilling, and feasibility studies to identify viable gold reserves. Once these reserves are confirmed and the necessary permits are obtained, Red Lake Gold Inc. moves towards the extraction and processing of gold, which is then sold in the global market. Revenue is further supplemented by strategic partnerships and joint ventures with other mining companies, which can provide additional capital and resources for large-scale projects. The company's earnings are influenced by factors such as gold market prices, extraction costs, and the successful discovery of new gold deposits.

Red Lake Gold Inc Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	0.00	0.00	0.00	0.00	0.00
	EBIT
-322.69K	-232.70K	-237.51K	-395.65K	-277.18K	-387.02K
	EBITDA
-309.37K	-197.75K	-237.51K	-395.65K	-277.18K	-592.65K
	Net Income Common Stockholders
-357.64K	-247.72K	-237.51K	-395.65K	-277.18K	-1.07M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
48.43K	42.53K	332.24K	343.11K	504.04K	461.69K
	Total Assets
1.51M	2.04M	2.18M	2.11M	2.33M	1.83M
	Total Debt
0.00	0.00	0.00	0.00	0.00	0.00
	Net Debt
-48.43K	-42.53K	-332.24K	-343.11K	-504.04K	-461.69K
	Total Liabilities
5.49K	13.08K	13.13K	17.88K	21.49K	14.50K
	Stockholders Equity
1.51M	2.02M	2.17M	2.09M	2.30M	1.82M
Cash Flow		Free Cash Flow
-255.21K	-427.31K	-323.83K	-210.93K	-879.48K	-383.01K
	Operating Cash Flow
-230.21K	-245.66K	-252.42K	-183.23K	-306.84K	-314.70K
	Investing Cash Flow
-179.00K	-181.65K	-71.41K	22.30K	-547.64K	-63.61K
	Financing Cash Flow
50.25K	137.60K	312.96K	0.00	896.83K	824.77K

Red Lake Gold Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RGLD, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and below the 200-day MA of 0.08, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.07 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:RGLD.

Red Lake Gold Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	50 Neutral	$2.00B	-1.12	-21.15%	3.68%	2.69%	-30.65%
RGLD	41 Neutral	C$3.27M	―	-206.92%	―	―	-539.74%
NULGF		$2.64M	―	-196.38%	―	―	―
HVG	52 Neutral	C$4.13M	―	-18.29%	―	―	-0.88%
FG	39 Underperform	C$2.66M	―	-256.51%	―	―	-105.80%
RFR	21 Underperform	C$3.64M	―	-638.22%	―	―	5.36%
TRGGF		$2.61M	―	-10.08%	―	―	―

Red Lake Gold Inc Corporate Events

Red Lake Gold Faces Potential Impact from First Nation Litigation

Red Lake Gold Inc. has received additional correspondence from the Asubpeeschoseewagong Anishinabek, a First Nation in Ontario, regarding third-party litigation related to mining claims in the Red Lake region. The correspondence challenges the validity of mining claims under the Ontario Mining Act, citing a lack of consultation with the Grassy Narrows community, potentially impacting Red Lake Gold’s Whirlwind Jack Gold Project.

Spark’s Take on TSE:RGLD Stock

According to Spark, TipRanks’ AI Analyst, TSE:RGLD is a Underperform.

Red Lake Gold Inc’s overall score reflects its precarious operational and financial position. The lack of revenue, persistent losses, and negative cash flow are significant risks. Technical analysis shows bearish momentum, further weighing on the stock’s prospects. Valuation metrics are negative, with no earnings and no dividend yield to attract investors. The halted private placement highlights the company’s reliance on external funding, posing additional challenges.

To see Spark’s full report on TSE:RGLD stock, click here.

Red Lake Gold Inc. Halts Private Placement Amid Market Challenges

Red Lake Gold Inc. has decided to discontinue its previously announced non-brokered private placement due to challenging market conditions and lack of interest from potential investors, including a key insider. This decision highlights the company’s ongoing dependency on external capital to sustain operations and meet exploration requirements, which are crucial for maintaining its mining claims.