Visible Gold Mines Inc (TSE:VGD)
:VGD
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Visible Gold Mines
(VGD)
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Rating:48Neutral
Price Target:
C$0.15
▼(-6.88% Downside)
Action:Reiterated
Date:04/09/26
The score is held back primarily by weak financial performance: no revenue and ongoing negative operating/free cash flow despite a low-debt balance sheet. Technical indicators are broadly neutral with only modest longer-term trend improvement, while the very low P/E appears attractive but is discounted due to earnings quality and lack of dividends.
Positive Factors
Low leverage (strong solvency)
A very low debt-to-equity ratio provides durable solvency advantage for an exploration junior. It reduces default and refinancing risk, preserves optionality to pursue multi-stage drilling programs or JV deals, and extends runway versus high-leverage peers over the next several months.
Negative Factors
Pre-revenue profile and cash burn
Persistent negative operating and free cash flow indicates ongoing cash burn and dependence on external financing. Over 2–6 months this limits the firm’s ability to self-fund exploration, increases dilution risk, and constrains strategic choices if markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage (strong solvency)
A very low debt-to-equity ratio provides durable solvency advantage for an exploration junior. It reduces default and refinancing risk, preserves optionality to pursue multi-stage drilling programs or JV deals, and extends runway versus high-leverage peers over the next several months.
Read all positive factors
Visible Gold Mines (VGD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$5.57M
Dividend YieldN/A
Average Volume (3M)47.33K
Price to Earnings (P/E)2.3
Beta (1Y)1.12
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.07
Shares Outstanding37,155,163
10 Day Avg. Volume77,207
30 Day Avg. Volume47,328
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)-4.78
Price to Sales (P/S)0.00
P/FCF Ratio-18.54
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)N/A
Revenue Forecast (FY)N/A
Visible Gold Mines Business Overview & Revenue Model
Company Description
Visible Gold Mines Inc. acquires and explores for gold mineral deposits in Canada. The company holds a 100% interest in the Cadillac project comprising 145 mining claims covering approximately 5,000 hectares located in west of Rouyn-Noranda, Québe...
How the Company Makes Money
Visible Gold Mines generates revenue through the exploration and potential development of mineral-rich properties. The company makes money by acquiring and exploring prospective mining sites, increasing their value through geological studies, dril...
Visible Gold Mines Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -18.40K | -18.40K | 0.00 | -4.67K | -8.18K | -4.57K |
| EBITDA | 2.05M | -430.30K | -377.53K | -890.79K | -4.08M | -777.39K |
| Net Income | 2.78M | -453.73K | -702.03K | -896.03K | -4.09M | -781.97K |
Balance Sheet | ||||||
| Total Assets | 2.73M | 142.40K | 233.86K | 796.95K | 1.48M | 5.48M |
| Cash, Cash Equivalents and Short-Term Investments | 650.44K | 16.39K | 33.61K | 22.44K | 173.54K | 333.25K |
| Total Debt | 48.77K | 57.80K | 74.89K | 90.76K | 0.00 | 0.00 |
| Total Liabilities | 101.69K | 678.04K | 426.78K | 255.41K | 118.59K | 44.61K |
| Stockholders Equity | 2.62M | -535.64K | -192.92K | 541.53K | 1.36M | 5.43M |
Cash Flow | ||||||
| Free Cash Flow | -847.13K | -138.22K | -125.34K | -457.77K | -354.78K | -708.28K |
| Operating Cash Flow | -839.59K | -138.22K | -125.34K | -342.68K | -299.06K | -624.03K |
| Investing Cash Flow | 1.49M | 0.00 | 152.82K | -43.45K | 139.35K | -43.66K |
| Financing Cash Flow | -27.71K | 121.00K | -15.86K | 235.03K | 0.00 | 980.88K |
Visible Gold Mines Technical Analysis
Negative
0.16
Price Trends
0.19
Negative
0.18
Negative
0.15
Negative
Market Momentum
>-0.01
Positive
30.53
Neutral
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VGD, the sentiment is Negative. The current price of 0.16 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.19, and above the 200-day MA of 0.15, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 30.53 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:VGD.
Visible Gold Mines 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$5.57M | 2.34 | ― | ― | ― | ― | |
43 Neutral | C$3.81M | -34.21 | -22.19% | ― | ― | -53.57% | |
| ― | C$4.22M | -20.38 | ― | ― | ― | -270.00% | |
52 Neutral | C$7.52M | -5.90 | -50.32% | ― | ― | -110.73% | |
| ― | C$4.97M | -6.73 | -13.58% | ― | ― | -675.56% |
* Basic Materials Sector Average
TSE:VGD
Visible Gold Mines
0.15
0.07
80.72%
TSE:KGC
Kestrel Gold
0.04
0.00
0.00%
TSE:MCL
McLaren Resources
0.05
-0.02
-25.00%
TSE:NVX
NV Gold
0.26
0.14
112.50%
TSE:SUI
Superior Mining International
0.06
-0.08
-55.56%
TSE:EDGM
Edgemont Gold Corp.
0.18
0.03
20.00%
Visible Gold Mines Corporate Events
Business Operations and StrategyM&A Transactions
Visible Gold Mines Expands Horsefly Property Next to IAMGOLD’s Nelligan Complex
Positive
Mar 2, 2026
Visible Gold Mines has significantly expanded its wholly owned Horsefly gold property in Québec’s Eeyou Istchee James Bay region by acquiring 304 additional mining claims adjacent to IAMGOLD’s Nelligan Mining Complex in the Chibou...
Business Operations and StrategyExecutive/Board Changes
Visible Gold Mines Taps Jean-Marc Lacoste as New CEO to Drive Next Growth Phase
Positive
Feb 23, 2026
Visible Gold Mines has appointed veteran mining executive Jean-Marc Lacoste as its new President, Chief Executive Officer and Director, while outgoing CEO Martin Dallaire remains as Chairman of the Board. Lacoste brings more than two decades of go...
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.