One-glance verdict
Overvalued
$12.56 our estimate vs market $35.08
179% above our estimate, beyond the bull case
Fundamentals snapshot
G Mining Ventures Corp.
GMINF · OQX · Basic Materials · Gold
Current price
$35.08
52-week range
$17.92 - $43.26
Market cap
$10.39B
Balance sheet
Healthy
18.32x Strong cushion
Net cash $192.72M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 299.8% last year.
- Reward Returns 23.8% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 1/10 years.
What this company does
G Mining Ventures Corp.
G Mining Ventures is a company working to build its main project, a gold mine in Brazil. Since the mine is still under construction, the company isn't selling any gold yet, so its value is based on the potential to produce gold in the future. Investing in the company is therefore a bet on its ability to finish building the mine and on what the price of gold will be.
How the company got here
G Mining Ventures was established in 2017 and is managed by a team with deep experience in building and operating mines. A major turning point was the acquisition of the Tocantinzinho (TZ) gold project in Brazil from another company in 2021. They successfully built the mine on time and on budget, reaching commercial production (the point where a mine operates in a steady and sustainable way) in 2024. This success provided the company with cash flow (money generated from its regular business operations) to fund its next stage of growth, which includes developing the newly acquired Oko West project in Guyana.
What it actually does
G Mining Ventures is in the business of finding, building, and operating gold mines. Think of them as a specialized construction and operations company that focuses only on gold. They explore land to find gold deposits, figure out if there's enough gold to be profitable, and then build and manage the entire mining operation to extract the gold from the ground. The final product they sell is gold, which is then sold on the global market to be used in jewelry, electronics, and as an investment.
Gold Mining Operations
This is the company's core business and currently its only way of making money. G Mining operates the Tocantinzinho mine in Brazil, which is an open-pit mine, meaning they extract gold from a large pit on the surface. The company's revenue (the total amount of money it brings in from sales) comes from selling the gold it produces. This single mine is the foundation of the company, providing the cash to explore for new gold deposits and build future mines.
What management is betting on now
Management's main focus is on transforming the company from a single-mine operator into a mid-tier producer with multiple mines. A huge part of this strategy is the development of the Oko West project in Guyana, which is currently under construction and is expected to be a much larger mine than Tocantinzinho. They are also spending significantly on exploration (the process of searching for new mineral deposits) at their existing sites and at another project in Brazil called Gurupi, hoping to find more gold and extend the life of their operations. The company is essentially reinvesting the profits from its current mine to build a bigger future for itself.
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $12.56 vs current price $35.08
Our most-likely fair value is $12.56 a share — about 64.2% below today's price of $35.08, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $192.7M - more cash than debt. Interest coverage 18.3x.
Net debt
$-192.72M
Interest coverage
18.32x
G Mining Ventures Corp.'s profit covers its interest bill about 18.3 times over. which is stronger than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
GMINF
BASELINE
G Mining Ventures Corp.
Total debt $33.02M Interest coverage 18.32x This is the baseline the peer rows are being compared against.
Total debt $1.76B Interest coverage 26.70x +46% vs GMINF Carries about 1.5x more debt cushion than GMINF.
Total debt $539.80M Interest coverage 10.58x -42% vs GMINF Carries about 1.7x less debt cushion than GMINF.
Total debt $572.94M Interest coverage 14.49x -21% vs GMINF Carries about 1.3x less debt cushion than GMINF.
Total debt $839.05M Interest coverage 2.41x -87% vs GMINF Carries about 7.6x less debt cushion than GMINF.
Total debt $216.30M Interest coverage 82.90x +352% vs GMINF Carries about 4.5x more debt cushion than GMINF.
What you should know
The case for and against GMINF
3 Rewards
0 Risks
Rewards
-
Revenue grew 299.8% last year.
-
Returns 23.8% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 1/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
22.34x
Forward P/E
—
P/B
4.42x
P/S
15.99x
EV/EBITDA
20.50x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
68.9%
Operating margin
62.0%
Net margin
56.5%
ROE
23.8%
ROA
13.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.02x
Current ratio
2.04x
Quick ratio
1.56x
Total debt
$33.02M
Total cash
$225.73M
Growth
How the business has been compounding
Revenue TTM
$650.12M
Revenue 5Y CAGR
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EPS TTM
1.57
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$307.56M
Free CF TTM
$111.69M
FCF margin
17.2%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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