First Mining Gold Corp.

TSX:FF Stock Report

Market Cap: CA$140.4m

First Mining Gold Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate FF's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FF's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As FF is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for FF. This is calculated by dividing FF's market cap by their current book value.
What is FF's PB Ratio?
PB Ratio0.6x
BookCA$217.99m
Market CapCA$140.38m

Price to Book Ratio vs Peers

How does FF's PB Ratio compare to its peers?

The above table shows the PB ratio for FF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average3.6x
AMX Amex Exploration
1.3x-49.9%CA$139.7m
TRX TRX Gold
1.9xn/aCA$138.4m
HSTR Heliostar Metals
6.5x160.3%CA$133.3m
LGC Lavras Gold
4.7xn/aCA$120.7m
FF First Mining Gold
0.6x70.6%CA$140.4m

Price-To-Book vs Peers: FF is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (3.6x).

Price to Book Ratio vs Industry

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

89 CompaniesPrice / BookEstimated GrowthMarket Cap
S Sherritt International
0.1xn/aUS$48.16m
WM Wallbridge Mining
0.2xn/aUS$46.92m
NCU Nevada Copper
0.1xn/aUS$31.56m
ELR Eastern Platinum
0.3xn/aUS$25.97m
FF 0.6xIndustry Avg. 1.4xNo. of Companies159PB01.22.43.64.86+
89 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: FF is good value based on its Price-To-Book Ratio (0.6x) compared to the Canadian Metals and Mining industry average (1.4x).

Price to Book Ratio vs Fair Ratio

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

FF PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FF's Price-To-Book Fair Ratio for valuation analysis.

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 FF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$0.13
CA$0.57
+335.9%
32.5%CA$0.80CA$0.35n/a3
Nov ’25CA$0.14
CA$0.72
+411.9%
16.4%CA$0.80CA$0.55n/a3
Oct ’25CA$0.14
CA$0.72
+430.9%
16.4%CA$0.80CA$0.55n/a3
Sep ’25CA$0.14
CA$0.72
+430.9%
16.4%CA$0.80CA$0.55n/a3
Aug ’25CA$0.13
CA$0.72
+451.3%
16.4%CA$0.80CA$0.55n/a3
Jul ’25CA$0.13
CA$0.70
+460.0%
20.2%CA$0.80CA$0.50n/a3
Jun ’25CA$0.14
CA$0.70
+400.0%
20.2%CA$0.80CA$0.50n/a3
May ’25CA$0.15
CA$0.75
+383.9%
24.0%CA$1.00CA$0.50n/a4
Apr ’25CA$0.13
CA$0.63
+387.2%
14.9%CA$0.70CA$0.50n/a3
Mar ’25CA$0.11
CA$0.65
+490.9%
13.3%CA$0.70CA$0.50n/a4
Feb ’25CA$0.12
CA$0.65
+441.7%
13.3%CA$0.70CA$0.50n/a4
Jan ’25CA$0.14
CA$0.74
+446.3%
5.6%CA$0.80CA$0.70n/a4
Dec ’24CA$0.14
CA$0.74
+446.3%
5.6%CA$0.80CA$0.70n/a4
Nov ’24CA$0.13
CA$0.74
+467.3%
5.6%CA$0.80CA$0.70CA$0.144
Oct ’24CA$0.14
CA$0.74
+426.8%
5.6%CA$0.80CA$0.70CA$0.144
Sep ’24CA$0.14
CA$0.74
+426.8%
5.6%CA$0.80CA$0.70CA$0.144
Aug ’24CA$0.16
CA$0.74
+360.9%
5.6%CA$0.80CA$0.70CA$0.134
Jul ’24CA$0.17
CA$0.74
+333.8%
5.6%CA$0.80CA$0.70CA$0.134
Jun ’24CA$0.18
CA$0.71
+285.1%
3.0%CA$0.75CA$0.70CA$0.144
May ’24CA$0.17
CA$0.71
+307.1%
3.0%CA$0.75CA$0.70CA$0.154
Apr ’24CA$0.17
CA$0.69
+304.4%
3.1%CA$0.70CA$0.65CA$0.134
Mar ’24CA$0.18
CA$0.72
+302.8%
10.3%CA$0.85CA$0.65CA$0.114
Feb ’24CA$0.20
CA$0.72
+253.7%
10.3%CA$0.85CA$0.65CA$0.124
Jan ’24CA$0.20
CA$0.72
+262.5%
10.3%CA$0.85CA$0.65CA$0.144
Dec ’23CA$0.20
CA$0.82
+312.5%
15.2%CA$1.00CA$0.65CA$0.144
Nov ’23CA$0.20
CA$0.80
+290.2%
11.7%CA$0.90CA$0.65CA$0.134

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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