China Gold International Resources Corp. Ltd. CGG

MaterialsMetals & MiningCanada

Last close 30.59 CAD on Nov 1, 2026, +13.8% year to date

Quant rating

Quant rating D Rank 113 of 154 in Materials

Growth D 126 of 154
Valuation B 56 of 154
Quality C 76 of 154
Revisions D 135 of 154
Momentum B 44 of 154

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 12.1B
Enterprise value: 11.4B
52-week range: 21.28 – 48.99
3-year range: 5.01 – 48.99
Dividend yield: 1.57%
Beta (5 years): 1.80
Shares outstanding: 396M
Next earnings: –

About the company

China Gold International Resources Corp. Ltd. is a Canada-based gold and base metal mining company. The Company is principally engaged in the operation, acquisition, development and exploration in mining of mineral resources in The People’s Republic of China (The PRC). It operates two mines, the CSH Gold Mine in Inner Mongolia, China and the Jiama Copper-Gold Polymetallic Mine in Tibet, China. The CSH gold mine is located in Inner Mongolia of China, it is expected gold production between 77,162 ounces to 83,592 ounces and approximately 2.4 to 2.6 tonnes in 2025. The Jiama project is a copper-gold polymetallic deposit containing of copper, molybdenum, gold, silver, lead and zinc metals. The Jiama project is a polymetallic deposit containing of copper, molybdenum, gold, silver, lead and zinc metals. Jiama Mine expects copper production between 139 to 148 million pounds over 63,000 to 67,000 tonnes and gold production between 69,124 to 73,947 ounces over 2.15 to 2.3 tonnes in 2025.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,798	1,088	609	1,497	1,437	–
Revenue growth	65.3%	78.8%	−59.4%	4.2%	30.6%	10.3%
EPS (basic, normalized)	1.64	0.23	−0.08	–	–	–
EPS growth	617.8%	–	–	–	–	–
Gross margin	52.2%	24.7%	17.5%	35.8%	35.5%	33.1%
Net margin	35.6%	8.3%	−5.6%	20.2%	23.5%	16.4%
ROE	22.9%	3.6%	−1.4%	12.0%	15.8%	10.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,406
Current ratio	3.17x
Long-term debt (mil)	394
Net debt (mil)	−685
Total equity (mil)	3,735
Net debt / equity	−0.18x
Net debt / EBITDA	−0.65x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,798	+65.3%	6.3x	1,053	+155.9%	10.8x	1.64	+617.8%	18.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	–	–	–	–
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CGG China Gold International Resources Corp. Ltd.	12.1B	−0.65x	35.6%	3.27x	–	–	–	–
FNV Franco-Nevada Corporation	60.6B	–	61.0%	5.27x	26.9x	24.7x	18.8x	17.7x
WPM Wheaton Precious Metals Corp.	73.8B	1.05x	63.6%	5.45x	25.0x	23.8x	17.8x	16.1x
LUG Lundin Gold Inc.	19.9B	−0.43x	44.4%	26.15x	14.1x	13.4x	8.5x	7.7x
RGLD Royal Gold, Inc.	27.1B	0.31x	45.2%	2.55x	21.7x	17.6x	12.8x	11.0x
CDE Coeur Mining, Inc.	18.8B	−0.34x	28.3%	1.29x	10.9x	6.8x	4.9x	3.2x
Mean		−0.01x	46.4%	7.33x	19.7x	17.3x	12.6x	11.2x
Median		−0.34x	44.8%	4.27x	21.7x	17.6x	12.8x	11.0x

Technical analysis

1M−22.3%
3M+0.7%
1Y+39.1%
3Y+430.7%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, China Gold International Resources Corp. Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,798	1,088	609	1,497	1,437	1,100
Cost of revenue	859	819	502	961	926	833
Gross profit	939	269	106	536	511	267
Selling, general & administrative expenses	72.5	58.4	41.5	60.0	49.7	41.4
Research & development	46.6	23.2	12.5	34.7	30.3	20.7
Depreciation/amortization	9.8	10.0	10.1	11.9	9.9	8.8
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	29.9	–	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	780	177	42.3	429	421	196
Net interest income (expense)	−5.4	−23.9	−29.2	−49.1	−19.7	−33.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−5.8	−19.2	−37.9	−7.2	−7.2	−3.1
Net income before taxes	769	134	−24.7	373	394	160
Provision for taxes	121	40.2	5.7	67.6	54.3	14.6
Minority interest	−7.4	−3.7	−3.4	−3.6	−1.7	−2.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	641	90.2	−33.8	302	338	143
Extraordinary items	–	–	–	–	–	–
Net income	641	90.2	−33.8	302	338	143
EBIT, normalized	813	178	42.3	429	421	196
EBITDA, normalized	1,041	388	203	711	642	435
Basic EPS, normalized	1.64	0.23	−0.08	–	–	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, China Gold International Resources Corp. Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	968	434	129	581	263	310
Receivables	11.3	10.6	25.6	11.8	32.7	45.5
Total inventory	404	418	386	397	379	379
Prepaid expenses	2.5	2.2	0.4	1.1	1.7	4.2
Other current assets	46.9	95.9	89.7	2.1	8.1	6.5
Total current assets	1,433	961	631	993	684	745
Property, plant & equipment	1,982	2,044	2,015	2,197	2,311	2,321
Goodwill	–	–	–	–	–	–
Intangibles	995	1,082	1,024	1,063	1,051	1,104
Long-term investments	184	69.6	62.5	50.6	36.6	26.5
Note receivable	–	–	–	–	–	–
Other long-term assets	13.8	65.7	21.9	25.4	32.3	33.4
Total assets	4,607	4,222	3,755	4,329	4,115	4,230
Liabilities
Accounts payable	–	37.1	25.0	52.6	54.7	58.1
Payable/accrued	250	–	–	–	–	–
Accrued expenses	–	19.8	4.5	25.0	15.6	12.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	339	214	191	542	124	179
Other current liabilities	48.5	219	184	246	240	314
Total current liabilities	637	490	405	865	434	564
Long-term debt	413	854	826	589	1,106	1,381
Minority interest	38.3	34.2	27.7	26.4	22.1	21.6
Other liabilities	350	309	235	295	259	254
Total liabilities	1,437	1,688	1,494	1,776	1,821	2,220
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,687	1,767	1,628	1,665	1,553	1,565
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	1,327	727	598	865	731	445
Treasury stock	–	–	–	–	–	–
Other equity	155	39.7	34.9	22.4	10.1	0
Total equity	3,169	2,534	2,261	2,553	2,294	2,009
Total liabilities & shareholders' equity	4,607	4,222	3,755	4,329	4,115	4,230

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, China Gold International Resources Corp. Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	769	134	−24.7	373	394	160
Depreciation, depletion & amortization	228	210	161	282	222	238
Deferred taxes	–	–	–	–	–	–
Non-cash items	28.4	31.0	33.8	36.5	23.7	38.8
Changes in working capital	−50.6	66.4	−168	−85.3	−112	−105
Cash from operations	974	441	2.1	606	527	332
Investing activities
Capital expenditures	−96.1	−87.3	−81.4	−61.8	−183	−193
Other investing cash flows	−243	−207	−79.2	16.6	−7.5	23.1
Cash from investing	−339	−295	−161	−45.2	−190	−170
Financing activities
Financing cash flow items	−1.7	−1.8	−1.5	−0.9	−0.5	−0.5
Cash dividends paid	−43.5	0	−194	−134	−61.2	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−303	−21.5	−76.1	−116	−327	−90.7
Cash from financing	−348	−23.3	−272	−251	−389	−91.2
Foreign exchange effects	8.4	1.0	−8.3	−11.3	7.4	6.9
Net change in cash	296	124	−439	299	−44.4	77.7
Free cash flow	878	354	−79.3	544	344	139

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.