Troilus Gold Corp (TLG) AI Stock Analysis

• Market Cap: C$1.12B
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.85
• Revenue Growth: N/A
• EPS Growth: -53.49%
• Country: CA
• Employees: 35
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.04
• Shares Outstanding: 520,642,400
• 10 Day Avg. Volume: 2,142,607
• 30 Day Avg. Volume: 1,508,583
• PEG Ratio: 0.35
• Price to Book (P/B): 17.19
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.10
• 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: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$2.00 ▲(27.39% Upside)

The score is held down primarily by weak financial performance (pre-revenue, large losses, heavy cash burn) and rising balance-sheet leverage with declining equity. Technicals provide partial offset due to a strong trend above key moving averages, but overbought momentum readings increase short-term risk; valuation offers limited support due to negative earnings.

Positive Factors

Project Asset and Resource Potential

Owning the Troilus gold-copper-silver deposit provides structural optionality: a sizable, long-lived mineral asset in a mining-friendly jurisdiction. This underpins long-term value creation via eventual development, sale, or partnership if exploration and studies advance successfully.

Meaningful Asset Base

A tangible asset base (~$40.1M TTM) supports the company’s development work and provides a measurable balance-sheet underpinning for the project. For a pre-revenue developer, material assets improve options for financing, collateralized lending, or value capture in a sale/partnering outcome.

Clear Development Business Model

A focused strategy—advancing exploration, technical studies, and permitting toward a construction decision or partnership—creates a durable roadmap to value. This structured development pathway reduces execution ambiguity and increases attractiveness to potential offtake partners or acquirers over the medium term.

Negative Factors

Persistent Cash Burn

Sustained, large negative operating and free cash flows mean the company must continually access external capital. Over months this dilutes shareholders, shortens runway, and raises execution risk for exploration and permitting—a fundamental constraint on progressing the project independently.

Elevated Leverage and Weak Equity

A sharp rise in debt and a weakened equity base materially increases financial risk. High leverage limits flexibility to raise non-dilutive capital, raises financing costs, and constrains strategic options like staged development or partnering, creating enduring balance-sheet pressure.

Pre-revenue with Worsening Losses

Operating without revenue and with growing net losses depletes capital and prevents internal funding of development. Over the medium term, consistent deficits increase dependency on markets for financing, heighten dilution risk, and can delay or derail project milestones if funding tightens.

Troilus Gold Corp Business Overview & Revenue Model

Company Description

Troilus Gold Corp. operates as an advanced stage exploration and early-development company in Canada. The company focuses on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. It holds 100% interest in the Troilus project consists of a single mining lease and 2,585 mineral claims covering an area of approximately 1,420 square kilometers located Frotêt-Evans Greenstone Belt in Quebec. The company is headquartered in Montreal, Canada.

How the Company Makes Money

Troilus Gold Corp generates revenue through the exploration and potential development of mineral resources, specifically gold and copper. The company's primary source of potential future income is the successful advancement of its Troilus Gold Project, which involves various stages of exploration, feasibility studies, and eventually, mining operations. Revenue is expected to be generated through the sale of extracted minerals. Additionally, the company may engage in strategic partnerships, joint ventures, or royalty agreements to monetize its assets and fund its operations. Until the mine becomes operational, the company may rely on equity financings or other forms of investment to support its exploration activities and corporate expenses.

Troilus Gold Corp Financial Statement Overview

Summary

Financials are highly speculative: the company is pre-revenue with persistently large and worsening net losses (TTM -$49.5M) and heavy cash burn (TTM operating cash flow -$45.5M; free cash flow -$46.6M). Balance sheet risk increased materially as debt jumped to $22.8M TTM while equity fell to $7.2M, lifting debt-to-equity to 3.18x.

Income Statement

The company reports no revenue across all periods provided, while continuing to generate sizable operating and net losses. Profitability is deeply negative, with net income worsening from 2023 (-$5.6M) to 2024 (-$34.3M) and remaining elevated in 2025 annual (-$39.4M) and TTM (Trailing-Twelve-Months) (-$49.5M). The main positive is that losses are consistent with an early-stage profile, but the lack of revenue and persistently large deficits keep the income statement quality weak.

Balance Sheet

The balance sheet has weakened materially due to a sharp increase in leverage. Total debt rose from roughly $1.0–$1.3M (2022–2024) to $21.4M in 2025 annual and $22.8M in TTM (Trailing-Twelve-Months), while equity declined to $12.3M (2025 annual) and $7.2M (TTM). As a result, debt relative to equity moved from very low levels historically to 1.74x (2025 annual) and 3.18x (TTM), increasing financial risk. Total assets remain meaningful ($40.1M TTM), but negative returns on equity reflect ongoing losses and pressure on the capital base.

Cash Flow

Cash generation remains a key concern, with operating cash flow and free cash flow consistently negative every year. In TTM (Trailing-Twelve-Months), operating cash flow is -$45.5M and free cash flow is -$46.6M, indicating ongoing cash burn. While free cash flow showed a positive growth rate in TTM (improvement versus the prior period), the company is still materially consuming cash, and cash outflows remain broadly in line with reported losses rather than showing clear self-funding progress.

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	-1.35M	-1.51M	-1.53M	-305.00K	-221.13K
EBITDA	-36.22M	-32.66M	-33.74M	-34.71M	-73.61M
Net Income	-39.36M	-34.27M	-5.58M	-36.21M	-81.38M
Balance Sheet
Total Assets	44.46M	24.93M	36.83M	30.72M	66.15M
Cash, Cash Equivalents and Short-Term Investments	26.07M	7.50M	17.90M	9.99M	53.59M
Total Debt	21.44M	1.02M	1.07M	1.26M	1.23M
Total Liabilities	32.16M	9.34M	6.94M	12.79M	19.21M
Stockholders Equity	12.30M	15.59M	29.88M	17.93M	46.93M
Cash Flow
Free Cash Flow	-34.65M	-20.18M	-31.70M	-43.30M	-50.49M
Operating Cash Flow	-33.60M	-19.79M	-31.11M	-42.43M	-49.85M
Investing Cash Flow	-1.13M	5.49M	15.95M	-1.09M	1.16M
Financing Cash Flow	53.00M	17.27M	9.56M	-445.28K	72.27M

Troilus Gold Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TLG, the sentiment is Positive. The current price of 1.57 is below the 20-day moving average (MA) of 1.81, below the 50-day MA of 1.62, and above the 200-day MA of 1.06, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 67.65 is Neutral, neither overbought nor oversold. The STOCH value of 84.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:TLG.

Troilus Gold Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FVL	56 Neutral	C$1.04B	-860.00	-0.62%	―	―	41.18%
WRN	53 Neutral	C$1.10B	-275.53	-1.92%	―	―	41.98%
ERD	53 Neutral	C$566.15M	-40.13	-24.29%	―	―	-1422.76%
TLG	49 Neutral	C$1.12B	-16.09	-231.13%	―	―	-53.49%
NCX	49 Neutral	C$822.90M	-80.17	-31.51%	―	―	11.83%
REG	37 Underperform	C$695.12M	-157.51	-6.29%	―	―	-67.96%

Troilus Gold Corp Corporate Events

Troilus Mining’s 2025 Exploration Confirms High-Grade Upside at Québec Copper-Gold Project

Troilus Mining Corp. has completed its 2025 exploration program at the Troilus copper-gold project, reporting record high‑grade intercepts in the Southwest Zone reserve pit area that support the near‑term mine plan and confirm the potential to expand existing mineral resources. The campaign also discovered a new mineralized trend dubbed “Bear Lake” in the footwall of the Southwest Zone and confirmed the Waubimo target as a high‑potential multi‑element soil anomaly, reinforcing management’s confidence in the project’s resource base and underscoring significant upside across the broader property as Troilus advances toward development.

The most recent analyst rating on (TSE:TLG) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.

Troilus Mining Marks Breakthrough Year as Flagship Copper-Gold Project Moves Toward Construction

Troilus Mining Corp. reported substantial progress in 2025 on its flagship Troilus copper-gold project, including completion of basic engineering and transition to detailed engineering, submission of its Environmental and Social Impact Assessment at federal and provincial levels, and targeted drilling to enhance geological confidence and upgrade resources. The company also bolstered its leadership and operational teams, modernized internal systems to prepare for execution, and saw its share price rise about 432%, while being recognized as a strategic critical-minerals asset through participation in Canadian trade missions and an “Entrepreneur of the Year” award. With key development “gating items” now well advanced, Troilus positions 2026 as a pivotal transition year focused on disciplined execution, advancing permitting, financing and engineering to move toward early construction readiness and further de-risk the project for stakeholders.

The most recent analyst rating on (TSE:TLG) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.

Troilus Mining Corp. Announces Name Change and Meeting Results

Troilus Mining Corp. has announced a name change from Troilus Gold Corp. to better reflect its broader focus on future metals production, including copper, gold, and silver, as it transitions from exploration to development. The name change aligns with the company’s strategic importance to Quebec and Canada and its shares will continue to trade under the ‘TLG’ ticker symbol. Additionally, the company held its Annual and Special Meeting where all director nominees were elected, and Deloitte LLP was appointed as auditors, indicating strong shareholder support.

The most recent analyst rating on (TSE:TLG) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.

Troilus Gold Corp. Upsizes Debt Financing to $1 Billion for Troilus Project

Troilus Gold Corp. has increased its debt financing mandate from US$700 million to US$1 billion to support the development of its copper-gold Troilus Project in Quebec, Canada. This decision reflects strong market conditions, improved project economics, and lender confidence, positioning Troilus as a significant player in North America’s mining sector. The financing, led by major global financial institutions, is expected to finalize by Q1 2026, enabling Troilus to advance towards a fully funded construction package by 2026, highlighting the company’s strategic importance and commitment to delivering value to stakeholders.

The most recent analyst rating on (TSE:TLG) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.

Troilus Gold Corp. Secures $172.5 Million in Public Offering to Advance Quebec Mining Project

Troilus Gold Corp. has successfully closed a $172.5 million bought deal public offering, which includes the full exercise of the over-allotment option. The proceeds from this offering will be used to fund pre-development activities at the Troilus Copper-Gold project, debt repayment, and general corporate purposes. This financial move strengthens Troilus’s position in the mining industry, particularly in North America, as it continues to develop its cornerstone project in Quebec.

The most recent analyst rating on (TSE:TLG) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.

Troilus Gold Corp Secures $150 Million for Project Development

Troilus Gold Corp has announced a $150 million bought deal public offering to fund its ongoing pre-development activities, debt repayment, and general corporate purposes. This move is part of the company’s broader strategy to transition from feasibility to development of its Troilus Copper-Gold project, with significant progress in project financing, permitting, and engineering, positioning the company for a potential construction decision in 2026.

The most recent analyst rating on (TSE:TLG) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Troilus Gold Corp stock, see the TSE:TLG Stock Forecast page.