G Mining Ventures Corp GMIN

MaterialsMetals & MiningCanada

Last close 37.85 CAD on Nov 1, 2026, −8.8% year to date

Quant rating

Quant rating C Rank 77 of 154 in Materials

Growth C 105 of 154
Valuation C 70 of 154
Quality B 32 of 154
Revisions D 123 of 154
Momentum C 64 of 154

Wall Street consensus Buy (1.85)Average target 63.92 CAD +68.9%

Historical valuation

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

Key data

Market cap: 11.2B
Enterprise value: 10.9B
52-week range: 25.43 – 58.74
3-year range: 4.48 – 58.74
Dividend yield: –
Beta (5 years): 0.85
Shares outstanding: 296M
Next earnings: Nov 12, 2026

About the company

G Mining Ventures Corp. is a Canada-based mining company. The Company is engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from mine development. It is anchored by the Tocantinzinho Mine in Brazil, supported by the Gurupi Project in Brazil and the Oko West Project in Guyana, all with significant exploration upside and located in mining-friendly jurisdictions. The Tocantinzinho Mine covers 996 square kilometers (km2) land package has direct access via 103 kilometers (km) of all-weather roads starting from the national highway that links the industries in southern Brazil to the city of Belem in the north. The Oko West Gold Project is a new gold discovery in northwest Guyana, located south of the historical Oko gold district, approximately 95 km west of Georgetown. The Gurupi Project is a district-scale gold project located in northeastern Brazil, covering 2,100 km2 along an 80 km mineralized trend.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	797	209	0	0	0	–
Revenue growth	281.5%	–	–	–	–	–
EPS (basic, normalized)	1.25	0.51	−0.11	−0.04	–	–
EPS growth	146.5%	–	–	–	–	–
Gross margin	68.9%	60.2%	–	–	–	64.5%
Net margin	49.6%	20.4%	–	–	–	35.0%
ROE	23.7%	4.7%	−2.8%	−1.1%	–	6.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	320
Current ratio	2.04x
Long-term debt (mil)	36.3
Net debt (mil)	−274
Total equity (mil)	2,680
Net debt / equity	−0.10x
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	797	+281.5%	13.7x	419	+326.9%	26.1x	1.25	+146.5%	30.3x
2026	926	+16.2%	11.8x	655	+56.3%	16.7x	1.50	+19.7%	25.3x
2027	1,267	+36.8%	8.6x	967	+47.6%	11.3x	1.84	+23.1%	20.5x
2028	3,084	+143.5%	3.5x	2,319	+139.8%	4.7x	4.56	+147.4%	8.3x

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	926	−0.5%	−8.5%	−7.8%	1.50	−3.5%	−30.0%	−30.1%
2027	1,267	−0.2%	+0.2%	+0.6%	1.84	−11.0%	−33.6%	−34.3%
2028	3,084	+0.8%	−4.0%	+7.8%	4.56	−0.4%	−33.8%	−9.4%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	143	141	179	162	191	–	218
Sales mean (mil)	–	–	–	143	–	196	234	252	–	169
Surprise	–	–	–	+0.4%	–	−8.5%	−30.9%	−24.1%	–	+28.7%
EPS reported	−0.04	−0.07	0.12	0.38	0.18	0.29	0.54	0.39	0.47	0.41
EPS mean	−0.06	−0.03	0.08	0.20	0.25	0.32	0.45	0.55	0.32	0.38
Surprise	+32.5%	−111.5%	+56.7%	+86.8%	−28.4%	−8.0%	+19.6%	−29.2%	+43.9%	+9.2%

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
GMIN G Mining Ventures Corp	11.2B	−0.65x	49.6%	3.41x	25.3x	20.5x	16.7x	11.3x
AEM Agnico Eagle Mines Limited	116.8B	−0.43x	37.5%	2.82x	14.2x	14.4x	7.3x	7.2x
ABX Barrick Mining Corporation	85.1B	1.05x	29.4%	2.23x	10.1x	8.5x	5.0x	4.2x
K Kinross Gold Corporation	33.0B	−0.43x	33.9%	2.38x	8.0x	7.3x	4.1x	3.6x
FM First Quantum Minerals Ltd.	27.2B	4.40x	−0.5%	1.69x	111.0x	13.6x	11.7x	6.3x
LUN Lundin Mining Corporation	24.6B	0.71x	25.8%	2.52x	15.5x	14.1x	7.2x	6.5x
Mean		0.78x	29.3%	2.51x	30.7x	13.1x	8.7x	6.5x
Median		0.14x	31.7%	2.45x	14.9x	13.8x	7.2x	6.4x

Technical analysis

1M−22.0%
3M−10.1%
1Y+44.0%
3Y+688.5%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, G Mining Ventures Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	797	209	0	0	0	0
Cost of revenue	248	83.1	–	–	–	–
Gross profit	549	126	0	0	0	0
Selling, general & administrative expenses	23.9	15.6	9.9	7.2	4.3	0.5
Research & development	–	–	–	–	0	0.2
Depreciation/amortization	0.7	0.7	0.1	0.1	0	–
Interest expense (income), operating	–	–	–	−2.0	0.2	–
Unusual expense (income)	–	–	0	0.9	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	524	109	−10.0	−6.2	−4.5	−0.7
Net interest income (expense)	−21.6	−36.0	1.7	3.6	0.3	0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−24.1	4.4	−1.2	0	0	0
Net income before taxes	479	77.8	−9.5	−2.6	−4.2	−0.7
Provision for taxes	83.5	35.2	–	–	–	0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	395	42.6	−9.5	−2.6	−4.2	−0.7
Extraordinary items	–	–	–	–	–	–
Net income	395	42.6	−9.5	−2.6	−4.2	−0.7
EBIT, normalized	524	109	−10.0	−7.3	−4.3	−0.7
EBITDA, normalized	596	138	−9.9	−7.2	−4.3	–
Basic EPS, normalized	1.25	0.51	−0.11	−0.04	–	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, G Mining Ventures Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	185	203	69.4	111	72.7	1.2
Receivables	20.2	7.4	2.4	1.8	0.5	0
Total inventory	89.8	54.1	10.6	–	–	–
Prepaid expenses	–	3.8	1.7	0.5	3.9	0
Other current assets	0	0	0	0	0	0
Total current assets	295	268	84.0	113	77.0	1.2
Property, plant & equipment	2,070	1,726	673	206	74.9	0.3
Goodwill	–	–	–	–	–	–
Intangibles	42.1	44.8	0	–	–	–
Long-term investments	4.5	5.1	0	–	–	–
Note receivable	5.4	–	–	–	–	–
Other long-term assets	188	74.5	21.3	28.5	0	0
Total assets	2,604	2,119	778	348	152	1.5
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	93.9	36.0	35.8	16.6	3.2	0.1
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	24.2	35.5	10.1	0	0.1	–
Other current liabilities	83.0	138	24.9	0	0	0
Total current liabilities	201	210	70.7	16.6	3.3	0.1
Long-term debt	170	130	33.2	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	287	326	326	4.2	0	0
Total liabilities	658	666	430	20.8	3.3	0.1
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,511	1,557	328	336	151	2.3
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	435	98.2	−11.8	−4.9	−3.9	−0.9
Treasury stock	–	–	–	–	–	–
Other equity	0.2	−202	31.9	−4.0	1.7	0
Total equity	1,947	1,453	348	327	149	1.5
Total liabilities & shareholders' equity	2,604	2,119	778	348	152	1.5

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, G Mining Ventures Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	395	89.2	−9.5	−2.6	−4.2	−0.7
Depreciation, depletion & amortization	71.9	29.0	0.1	0.1	0	–
Deferred taxes	−2.4	4.9	–	–	–	0
Non-cash items	64.4	8.2	7.2	−0.4	1.4	0.2
Changes in working capital	−107	−90.3	319	1.2	−3.0	0
Cash from operations	422	41.0	317	−1.6	−5.7	−0.5
Investing activities
Capital expenditures	−424	−201	−404	−108	−4.3	−0.2
Other investing cash flows	0	29.0	0	−19.9	−26.6	0
Cash from investing	−424	−172	−404	−128	−30.8	−0.2
Financing activities
Financing cash flow items	−4.8	−0.1	−0.3	−5.0	−5.9	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−14.4	274	41.4	178	113	1.1
Cash from financing	−19.2	274	41.1	173	107	1.1
Foreign exchange effects	12.4	−14.6	6.7	−9.7	1.4	–
Net change in cash	−9.1	128	−39.1	33.0	71.6	0.4
Free cash flow	−2.4	−160	−86.9	−110	−10.0	−0.7

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.