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First Mining Gold TSX:FF Stock Report

Last Price


Market Cap







05 Aug, 2022


Company Financials +
FF fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance0/6
Financial Health5/6

FF Stock Overview

First Mining Gold Corp. develops and explores for gold projects.

First Mining Gold Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Mining Gold
Historical stock prices
Current Share PriceCA$0.24
52 Week HighCA$0.37
52 Week LowCA$0.20
1 Month Change17.07%
3 Month Change0%
1 Year Change-34.25%
3 Year Change-18.64%
5 Year Change-61.29%
Change since IPO-49.47%

Recent News & Updates

Shareholder Returns

FFCA Metals and MiningCA Market

Return vs Industry: FF underperformed the Canadian Metals and Mining industry which returned -19.7% over the past year.

Return vs Market: FF underperformed the Canadian Market which returned -1.7% over the past year.

Price Volatility

Is FF's price volatile compared to industry and market?
FF volatility
FF Average Weekly Movement8.2%
Metals and Mining Industry Average Movement12.0%
Market Average Movement11.0%
10% most volatile stocks in CA Market19.6%
10% least volatile stocks in CA Market4.4%

Stable Share Price: FF is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: FF's weekly volatility (8%) has been stable over the past year.

About the Company

200528Dan Wilton

First Mining Gold Corp. develops and explores for gold projects. It also explores for silver, copper, and iron ore deposits. The company primarily holds interests in the Springpole Gold Project located in northwestern Ontario.

First Mining Gold Fundamentals Summary

How do First Mining Gold's earnings and revenue compare to its market cap?
FF fundamental statistics
Market CapCA$170.90m
Earnings (TTM)-CA$6.12m
Revenue (TTM)n/a


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FF income statement (TTM)
Cost of RevenueCA$0
Gross ProfitCA$0
Other ExpensesCA$6.12m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)-0.0086
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0%

How did FF perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 5/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

FF key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDA-44.1x
PEG Ration/a

Price to Book Ratio vs Peers

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

FF PB Ratio vs 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.
CompanyPBEstimated GrowthMarket Cap
Peer Average15.3x
FVL Freegold Ventures
GBRR Great Bear Royalties
ME Moneta Gold
AOT Ascot Resources
FF First Mining Gold

Price-To-Book vs Peers: FF is good value based on its Price-To-Book Ratio (0.7x) compared to the peer average (15.3x).

Price to Earnings Ratio vs Industry

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

Price-To-Book vs Industry: FF is good value based on its Price-To-Book Ratio (0.7x) compared to the Canadian Metals and Mining industry average (1.6x)

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 Ratio0.7x
Fair PB Ration/a

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

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: FF (CA$0.24) is trading below our estimate of fair value (CA$15.29)

Significantly Below Fair Value: FF is trading below fair value by more than 20%.

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is First Mining Gold forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if FF's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if FF's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if FF's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FF is forecast to have no revenue next year.

High Growth Revenue: FF is forecast to have no revenue next year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if FF's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has First Mining Gold performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FF is currently unprofitable.

Growing Profit Margin: FF is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: FF is unprofitable, and losses have increased over the past 5 years at a rate of 29.9% per year.

Accelerating Growth: Unable to compare FF's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FF is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-15.8%).

Return on Equity

High ROE: FF has a negative Return on Equity (-2.67%), as it is currently unprofitable.

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Financial Health

How is First Mining Gold's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: FF's short term assets (CA$36.1M) exceed its short term liabilities (CA$12.2M).

Long Term Liabilities: FF's short term assets (CA$36.1M) exceed its long term liabilities (CA$26.0M).

Debt to Equity History and Analysis

Debt Level: FF is debt free.

Reducing Debt: FF has no debt compared to 5 years ago when its debt to equity ratio was 0.9%.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: FF has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: FF has less than a year of cash runway if free cash flow continues to reduce at historical rates of 14.9% each year

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What is First Mining Gold current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FF's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FF's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FF has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Dan Wilton





Mr. Daniel William Wilton, also known as Dan, has been the Chief Executive Officer and Director at First Mining Gold Corp. since January 07, 2019. Mr. Wilton has been an Independent Director of South Star...

CEO Compensation Analysis

Compensation vs Market: Dan's total compensation ($USD658.53K) is above average for companies of similar size in the Canadian market ($USD186.69K).

Compensation vs Earnings: Dan's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: FF's management team is considered experienced (2.7 years average tenure).

Board Members

Experienced Board: FF's board of directors are considered experienced (3.6 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: FF insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

First Mining Gold Corp.'s employee growth, exchange listings and data sources

Key Information

  • Name: First Mining Gold Corp.
  • Ticker: FF
  • Exchange: TSX
  • Founded: 2005
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: CA$170.898m
  • Shares outstanding: 712.07m
  • Website:

Number of Employees


  • First Mining Gold Corp.
  • 1188 West Georgia Street
  • Suite 2070
  • Vancouver
  • British Columbia
  • V6E 4A2
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/05 00:00
End of Day Share Price2022/08/05 00:00
Annual Earnings2021/12/31

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 here.