Artemis Gold Inc.

TSXV:ARTG Stock Report

Market Cap: CA$7.2b

Artemis Gold Valuation

Is ARTG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ARTG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
CA$12.34
Fair Value
153.7% overvalued intrinsic discount
8
Number of Analysts

Below Fair Value: ARTG (CA$31.31) is trading above our estimate of fair value (CA$12.34)

Significantly Below Fair Value: ARTG is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ARTG?

Key metric: As ARTG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ARTG. This is calculated by dividing ARTG's market cap by their current earnings.
What is ARTG's PE Ratio?
PE Ratio84.2x
EarningsCA$85.76m
Market CapCA$7.22b

Price to Earnings Ratio vs Peers

How does ARTG's PE Ratio compare to its peers?

The above table shows the PE ratio for ARTG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.7x
ITR Integra Resources
30.8x90.42%CA$613.5m
HSTR Heliostar Metals
12xn/aCA$419.1m
OLA Orla Mining
139.9x76.67%CA$5.0b
IMG IAMGOLD
8x-4.17%CA$8.9b
ARTG Artemis Gold
84.2x68.77%CA$7.2b

Price-To-Earnings vs Peers: ARTG is expensive based on its Price-To-Earnings Ratio (84.2x) compared to the peer average (47.7x).

Price to Earnings Ratio vs Industry

How does ARTG's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

28 CompaniesPrice / EarningsEstimated GrowthMarket Cap
LUC Lucara Diamond
1.3x-95.87%US$67.31m
MGZ.H Mangazeya Mining
0.9xn/aUS$32.84m
VGCX Victoria Gold
2.1xn/aUS$24.21m
BRZ Bearing Lithium
1.9xn/aUS$22.87m
ARTG 84.2xIndustry Avg. 18.6xNo. of Companies28PE01632486480+
28 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ARTG is expensive based on its Price-To-Earnings Ratio (84.2x) compared to the Canadian Metals and Mining industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is ARTG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ARTG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio84.2x
Fair PE Ratio55.2x

Price-To-Earnings vs Fair Ratio: ARTG is expensive based on its Price-To-Earnings Ratio (84.2x) compared to the estimated Fair Price-To-Earnings Ratio (55.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ARTG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$31.31
CA$33.27
+6.26%
7.83%CA$37.89CA$30.96n/a8
Sep ’26CA$28.86
CA$33.13
+14.81%
7.86%CA$37.75CA$30.79n/a8
Aug ’26CA$25.62
CA$32.65
+27.44%
4.90%CA$35.54CA$31.04n/a8
Jul ’26CA$24.77
CA$30.48
+23.05%
10.84%CA$33.72CA$23.57n/a8
Jun ’26CA$21.87
CA$26.32
+20.33%
12.30%CA$34.18CA$22.12n/a9
May ’26CA$18.90
CA$24.39
+29.07%
16.31%CA$33.98CA$19.93n/a9
Apr ’26CA$17.11
CA$22.43
+31.11%
13.98%CA$27.01CA$18.11n/a9
Mar ’26CA$15.81
CA$20.18
+27.65%
7.14%CA$22.13CA$18.11n/a9
Feb ’26CA$15.78
CA$19.74
+25.09%
5.76%CA$21.21CA$18.10n/a8
Jan ’26CA$13.75
CA$19.62
+42.72%
6.17%CA$21.67CA$17.73n/a9
Dec ’25CA$14.57
CA$18.60
+27.67%
8.65%CA$21.11CA$16.11n/a9
Nov ’25CA$14.03
CA$18.31
+30.50%
11.32%CA$21.04CA$14.20n/a9
Oct ’25CA$13.11
CA$16.79
+28.07%
9.01%CA$18.91CA$13.66n/a9
Sep ’25CA$12.24
CA$15.74
+28.60%
12.97%CA$18.80CA$13.49CA$28.869
Aug ’25CA$11.85
CA$15.62
+31.81%
12.37%CA$19.26CA$13.46CA$25.6210
Jul ’25CA$9.82
CA$14.82
+50.95%
17.81%CA$19.08CA$9.50CA$24.7710
Jun ’25CA$10.63
CA$13.93
+31.02%
16.90%CA$17.90CA$9.45CA$21.8710
May ’25CA$9.45
CA$13.15
+39.11%
20.29%CA$17.96CA$8.98CA$18.9010
Apr ’25CA$8.34
CA$11.99
+43.73%
21.47%CA$17.12CA$8.71CA$17.1110
Mar ’25CA$7.38
CA$11.82
+60.11%
21.71%CA$17.14CA$8.74CA$15.8110
Feb ’25CA$6.70
CA$11.38
+69.90%
22.35%CA$16.99CA$8.24CA$15.7810
Jan ’25CA$6.32
CA$10.89
+72.26%
19.71%CA$15.46CA$8.28CA$13.759
Dec ’24CA$6.76
CA$10.97
+62.33%
20.28%CA$15.70CA$8.22CA$14.579
Nov ’24CA$5.16
CA$11.13
+115.71%
20.48%CA$15.99CA$8.24CA$14.039
Oct ’24CA$5.80
CA$11.35
+95.66%
21.00%CA$15.89CA$8.25CA$13.119
Sep ’24CA$6.10
CA$11.47
+88.11%
21.89%CA$15.97CA$8.25CA$12.248
AnalystConsensusTarget
Consensus Narrative from 8 Analysts
CA$33.27
Fair Value
5.9% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/09/09 14:27
End of Day Share Price 2025/09/09 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Artemis Gold Inc. is covered by 24 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian QuastBMO Capital Markets Equity Research
Andrew MikitchookBMO Capital Markets Equity Research
Carey MacRuryCanaccord Genuity