Troilus Mining Corp TLG

MaterialsMetals & MiningCanada

Last close 1.50 CAD on Nov 2, 2026, −4.5% year to date

Quant rating

Quant rating D Rank 118 of 154 in Materials

Growth C 107 of 154
Valuation C 92 of 154
Quality D 146 of 154
Revisions C 81 of 154
Momentum C 97 of 154

Wall Street consensus Buy (2.00)Average target 4.33 CAD +188.6%

Historical valuation

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

Key data

Market cap: 832M
Enterprise value: 710M
52-week range: 1.20 – 2.47
3-year range: 0.26 – 2.47
Dividend yield: –
Beta (5 years): 2.81
Shares outstanding: 554M
Next earnings: Dec 4, 2026

About the company

Troilus Mining Corp. is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus Mine towards production. Troilus is located in the tier-one mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 square kilometers (Km2) in the Frotet-Evans Greenstone Belt. Troilus has made several new discoveries and defined multiple mineralized exploration targets to support its long-term growth strategy.

Growth and profitability

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	0	0	0	0	0	–
Revenue growth	–	–	–	–	–	–
EPS (basic, normalized)	−0.11	–	−0.03	−0.18	−0.56	–
EPS growth	–	–	–	–	–	–
Gross margin	–	–	–	–	–	–
Net margin	–	–	–	–	–	–
ROE	−282.3%	−150.7%	−23.3%	−111.7%	−189.1%	−151.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	124
Current ratio	5.93x
Long-term debt (mil)	1.1
Net debt (mil)	−122
Total equity (mil)	123
Net debt / equity	−0.99x
Net debt / EBITDA	3.13x

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
2026 actual	0	–	–	−38.9	−2.5%	−18.2x	−0.16	−48.2%	−9.2x
2027	0	–	–	−41.7	−7.0%	−17.0x	−0.10	+41.1%	−15.6x
2028	0	–	–	−10.3	+75.3%	−69.0x	−0.15	−58.9%	−9.8x
2029	0	–	–	−6.0	+41.7%	−118.4x	−0.17	−14.8%	−8.6x

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
2027	0	–	–	–	−0.10	0.0%	−33.3%	−340.0%
2028	0	–	–	−100.0%	−0.15	0.0%	−17.3%	−137.2%
2029	0	–	–	−100.0%	−0.17	0.0%	−29.6%	−124.0%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	Jan 2026	Apr 2026
Sales reported (mil)	–	–	–	–	–	–	–	–	0	0
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	−0.03	−0.04
EPS mean	–	–	–	–	–	–	–	–	–	−0.02
Surprise	–	–	–	–	–	–	–	–	–	−100.0%

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
TLG Troilus Mining Corp	832M	3.13x	–	6.75x	−15.6x	−9.8x	−17.0x	−69.0x
AGI Alamos Gold Inc.	16.3B	−0.39x	49.0%	2.35x	12.7x	9.7x	7.0x	5.3x
PPTA Perpetua Resources Corp.	2.8B	4.49x	–	2.81x	−10.1x	−18.4x	−16.0x	−30.0x
ALK Alkane Resources Ltd	2.1B	–	24.4%	1.91x	8.1x	6.0x	3.4x	2.7x
FDY Faraday Copper Corp	1.7B	4.44x	–	8.22x	−29.2x	−40.1x	−29.2x	−36.3x
USAS Americas Gold and Silver Corporation	1.4B	7.44x	−74.1%	3.29x	22.4x	6.9x	8.6x	3.8x
Mean		3.82x	−0.2%	4.22x	−1.9x	−7.6x	−7.2x	−20.6x
Median		4.44x	24.4%	3.05x	−1.0x	−1.9x	−6.3x	−13.7x

Technical analysis

1M−19.8%
3M−7.4%
1Y+4.2%
3Y+316.7%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Troilus Mining Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	0	0	0	0	0	0
Cost of revenue	–	–	–	–	6.5	4.5
Gross profit	0	0	0	0	−6.5	−4.5
Selling, general & administrative expenses	12.3	7.9	13.2	12.9	36.9	8.9
Research & development	28.2	21.6	22.3	29.9	18.0	5.4
Depreciation/amortization	0.2	0.3	0.3	1.4	1.1	0.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	0	20.0	–
Other operating expenses	−0.5	0.4	−0.6	−0.2	−0.1	0.3
Operating income	−40.2	−30.2	−35.3	−44.0	−82.4	−20.0
Net interest income (expense)	−1.2	−7.6	−9.9	0.1	1.4	−0.1
Gain (loss) on sale of assets	0.4	2.1	39.8	0	0	–
Other non-operating income (expense)	1.6	1.5	−0.2	7.7	6.1	1.6
Net income before taxes	−39.4	−34.3	−5.6	−36.2	−75.0	−18.4
Provision for taxes	–	–	–	–	–	–
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−39.4	−34.3	−5.6	−36.2	−75.0	−18.4
Extraordinary items	–	–	–	–	–	–
Net income	−39.4	−34.3	−5.6	−36.2	−75.0	−18.4
EBIT, normalized	−40.2	−30.2	−35.3	−44.0	−62.4	−20.0
EBITDA, normalized	−38.9	−28.8	−33.7	−42.6	−61.3	−19.1
Basic EPS, normalized	−0.11	–	−0.03	−0.18	−0.56	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Troilus Mining Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	26.1	7.5	17.9	10.0	53.6	29.9
Receivables	6.7	8.9	11.9	13.1	5.4	2.3
Total inventory	–	–	–	–	–	–
Prepaid expenses	1.2	0.7	0.7	0.9	0.5	0.5
Other current assets	0	0	0	0	0	0
Total current assets	34.0	17.1	30.5	24.0	59.5	32.6
Property, plant & equipment	6.8	5.5	5.5	5.9	5.8	5.4
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	0.8	1.5	–	–	0	0.2
Note receivable	–	–	–	–	–	–
Other long-term assets	2.9	0.8	0.8	0.8	0.8	1.6
Total assets	44.5	24.9	36.8	30.7	66.1	40.0
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	8.5	5.5	3.2	8.2	6.5	2.4
Accrued expenses	–	–	–	–	–	–
Short-term debt	19.7	0	0	0	0	0
Current portion of long-term debt	0.8	0.3	0.7	0.7	0.5	0.5
Other current liabilities	0.2	0.2	0.1	0.1	0.1	0.1
Total current liabilities	29.2	6.0	4.0	9.0	7.1	3.1
Long-term debt	0.9	0.7	0.4	0.6	0.7	0.6
Minority interest	–	–	–	–	–	–
Other liabilities	2.1	2.7	2.6	3.2	11.4	4.0
Total liabilities	32.2	9.3	6.9	12.8	19.2	7.6
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	247	211	184	169	166	87.2
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	−234	−195	−154	−152	−119	−54.9
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	12.3	15.6	29.9	17.9	46.9	32.3
Total liabilities & shareholders' equity	44.5	24.9	36.8	30.7	66.1	40.0

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Troilus Mining Corp, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	−39.4	−34.3	−5.6	−36.2	−75.0	−18.4
Depreciation, depletion & amortization	1.2	1.4	1.5	1.4	1.1	0.9
Deferred taxes	–	–	–	–	–	–
Non-cash items	1.9	7.7	−23.4	−1.3	22.4	2.4
Changes in working capital	2.6	5.3	−3.6	−6.4	1.6	0.8
Cash from operations	−33.6	−19.8	−31.1	−42.4	−49.8	−14.4
Investing activities
Capital expenditures	−1.0	−0.4	−0.6	−0.9	−0.6	−2.1
Other investing cash flows	−0.1	5.9	16.5	−0.2	1.8	−0.2
Cash from investing	−1.1	5.5	16.0	−1.1	1.2	−2.3
Financing activities
Financing cash flow items	−2.4	15.1	9.9	−0.1	72.7	41.5
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	55.4	2.2	−0.3	−0.3	−0.4	−1.2
Cash from financing	53.0	17.3	9.6	−0.4	72.3	40.3
Foreign exchange effects	0	–	–	–	–	–
Net change in cash	18.2	3.0	−5.6	−44.0	23.6	23.5
Free cash flow	−34.6	−20.2	−31.7	−43.3	−50.5	−16.5

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 2, 2026 after market close.