How does M2M2's PB Ratio compare to its peers?

M2M2 is good value based on its Price-To-Book Ratio (1.4x) compared to the peer average (8x).

How does M2M2's PB Ratio compare vs other companies in the European Metals and Mining Industry?

M2M2 is expensive based on its Price-To-Book Ratio (1.4x) compared to the European Metals and Mining industry average (1x).

What is M2M2'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.

Insufficient data to calculate M2M2's Price-To-Book Fair Ratio for valuation analysis.

What is the Fair Price of M2M2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

M2M2 (€0.16) is trading below our estimate of [[fair value]] (€9.45)

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

Insufficient data to show price forecast.

Nighthawk Gold (DB:M2M2) - Stock Price, News & Analysis

M2M2 Stock Overview

Nighthawk Gold Corp. operates as a gold exploration company in Canada. More details

M2M2 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 98.3% below our estimate of its fair value

Risk Analysis

Makes less than USD$1m in revenue (CA$0)

Earnings have declined by 26.1% per year over past 5 years

Does not have a meaningful market cap (€38M)

Volatile share price over the past 3 months

+ 1 more risk

Nighthawk Gold Corp. Competitors

Pearl Gold

DB:02P

€11.0m

Greenland Resources

DB:M0LY

€64.0m

Delignit

XTRA:DLX

€23.4m

IBU-tec advanced materials

XTRA:IBU

€27.8m

Price History & Performance

Summary of all time highs, changes and price drops for Nighthawk Gold
Historical stock prices
Current Share Price	CA$0.16
52 Week High	CA$0.48
52 Week Low	CA$0.16
Beta	1.4
11 Month Change	-17.71%
3 Month Change	-36.80%
1 Year Change	-36.29%
33 Year Change	-78.65%
5 Year Change	-86.72%
Change since IPO	-89.67%

Recent updates

Shareholder Returns

	M2M2	DE Metals and Mining	DE Market
7D	-8.1%	-1.3%	1.3%
1Y	-36.3%	-26.3%	7.9%

Return vs Industry: M2M2 underperformed the German Metals and Mining industry which returned -29% over the past year.

Return vs Market: M2M2 underperformed the German Market which returned -1.8% over the past year.

Price Volatility

Is M2M2's price volatile compared to industry and market?
M2M2 volatility
M2M2 Average Weekly Movement	8.1%
Metals and Mining Industry Average Movement	11.6%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	10.8%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: M2M2's share price has been volatile over the past 3 months.

Volatility Over Time: M2M2's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of German stocks.

About the Company

Founded	Employees	CEO	Website
2004	n/a	Keyvan Salehi	www.nighthawkgold.com

Nighthawk Gold Corp. operates as a gold exploration company in Canada. It owns a 100% interest in the Indin Lake Gold property that covering an area of 229,791 acres located in the Northwest Territories. The company was formerly known as Merc International Minerals Inc. and changed its name to Nighthawk Gold Corp. in April 2012.

Nighthawk Gold Corp. Fundamentals Summary

How do Nighthawk Gold's earnings and revenue compare to its market cap?
M2M2 fundamental statistics
Market cap	€26.37m
Earnings (TTM)	-€10.24m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-2.6x

P/E Ratio

Is M2M2 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
M2M2 income statement (TTM)
Revenue	CA$0
Cost of Revenue	CA$0
Gross Profit	CA$0
Other Expenses	CA$14.85m
Earnings	-CA$14.85m

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	-0.099
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0%

How did M2M2 perform over the long term?

See historical performance and comparison

M2M2 Stock Overview

Rewards

Risk Analysis

Nighthawk Gold Corp. Competitors

DB:02P

€11.0m

DB:M0LY

€64.0m

XTRA:DLX

€23.4m

XTRA:IBU

€27.8m

Price History & Performance

Recent News & Updates

Nighthawk Gold Corp. Common Shares to Be Deleted from OTC Equity

Moneta Gold Inc. (TSX:ME) completed the acquisition of Nighthawk Gold Corp. (TSX:NHK) from O3 Mining Inc., The K2 Principal Fund L.P., a fund managed by K2 & Associates Investment Management Inc. and others.

Nighthawk Gold Corp. announced that it has received CAD 13 million in funding

Moneta Gold Inc. (TSX:ME) entered into an arrangement agreement to acquire Nighthawk Gold Corp. (TSX:NHK) from O3 Mining Inc., The K2 Principal Fund L.P., a fund managed by K2 & Associates Investment Management Inc. and others for CAD 56.2 million.

New major risk - Financial position

Nighthawk Gold Corp. Reports Significant Drill Assay Results from the 24/27 Deposit Located in the Colomac Centre Area and Approximately 2 Kilometres East of the Colomac Main Deposit

Recent updates

Nighthawk Gold Corp. Common Shares to Be Deleted from OTC Equity

Moneta Gold Inc. (TSX:ME) completed the acquisition of Nighthawk Gold Corp. (TSX:NHK) from O3 Mining Inc., The K2 Principal Fund L.P., a fund managed by K2 & Associates Investment Management Inc. and others.

Nighthawk Gold Corp. announced that it has received CAD 13 million in funding

Moneta Gold Inc. (TSX:ME) entered into an arrangement agreement to acquire Nighthawk Gold Corp. (TSX:NHK) from O3 Mining Inc., The K2 Principal Fund L.P., a fund managed by K2 & Associates Investment Management Inc. and others for CAD 56.2 million.

New major risk - Financial position

Nighthawk Gold Corp. Reports Significant Drill Assay Results from the 24/27 Deposit Located in the Colomac Centre Area and Approximately 2 Kilometres East of the Colomac Main Deposit

Nighthawk Gold Intersects 4 Ounces Per Tonne (125.00 g/t Au) over 0.50 Metres at the Cass Deposit

New minor risk - Shareholder dilution

Nighthawk Gold Corp. announced that it has received CAD 11.31808 million in funding

Nighthawk Gold Corp. announced that it expects to receive CAD 10.595 million in funding

President recently bought €61k worth of stock

President recently bought €56k worth of stock

Nighthawk Gold Corp. Updates Mineral Resource Estimate Demonstrates Significant Boost to the Global and Open-Pit Mineral Resources

Nighthawk Gold Corp. Announces Executive Changes

High number of new directors

Nighthawk Gold Corp. Reports 916.00 G/T Au over 0.50 M (With 232.18 G/T over 2.00 M) At the Cass Deposit

Nighthawk Gold Reports 217.00 G/T Au over 0.50 M (With 7.30 G/T Au over 17.65 M) At the Kim Deposit

Nighthawk Gold Reports 2.09 G/T Au over 92.0 M and 2.72 G/T Au over 34.50 M from the Colomac Main Deposit

Nighthawk Gold Corp. Reports Additional Drill Assay Results from the Colomac Main Deposit

Nighthawk Gold Corp. Reports 2.91 g/t Au over 54.35 metres at the 24/27 Deposit and 3.02 g/t Au over 20.25 metres at the Grizzly Bear Deposit within the Colomac Centre Area

Nighthawk Gold Completes 2022 Exploration Program Drilling Ahead of Schedule

Nighthawk Gold Corp. Reports Initial Drill Assay Results from Its 2022 Exploration Program, with Encouraging Results from Its 24 and 27 Deposits Located in the Colomac Centre Area on Its Property in the Northwest Territories, Canada

Nighthawk Gold Reports 1.91 g/t Au Over 60.95 Metres From the 2022 Exploration Program Initial Drill Assay Results

Nighthawk Gold Corp. Announces Its 2 Year Exploration Program At Its District Scale Land Package

Nighthawk Gold Corp. has completed a Composite Units Offering in the amount of CAD 29.362765 million.

Nighthawk Gold Corp. has completed a Composite Units Offering in the amount of CAD 29.362765 million.

High number of new directors

Nighthawk Gold Reports Substantial Expansion of 121% in the Indicated Category

High number of new directors

Nighthawk Gold Corp. Reports Final Phase II 2021 Drill Results from the Grizzly Bear, 24 and Colomac Main Deposits

Nighthawk Gold Corp. Reports Assay Results Cass Zone and Kim Zone

Nighthawk Gold Corp. announced that it has received CAD 5.63 million in funding

Nighthawk Gold Corp. Reports Assay Results for Seventeen Drillholes Completed on the 24/27 Deposits

Nighthawk Gold Corp. Reports High-Grade Mineralization from Initial Drilling at Cass

Nighthawk Reports Drill Results from Its Phase I 2021 Exploration Program At Colomac and Goldcrest

President recently bought €58k worth of stock

Independent Director Luc Lessard has left the company

Nighthawk Reports Initial Drill Results from its Phase I 2021 Exploration Program at Grizzly Bear

Nighthawk Gold Corp. Receives Permits to Commence Drilling at the Cass Zone, Part of the Recently Optioned Kim & Cass Property

Nighthawk Gold Corp. announced that it has received CAD 10.9465 million in funding

Nighthawk Gold Corp. announced that it expects to receive CAD 10.9465 million in funding

Nighthawk Provides Update on the Tlich Highway Project

New 90-day low: €0.71

Nighthawk Gold Corp. Reports Treasure Island Drill Results, Intersecting Elevated Grades

New 90-day low: €0.73

President & CEO recently bought €90k worth of stock

Nighthawk Gold Appoints Richard Roy as Vice President of Exploration

New 90-day high: €0.89

Nighthawk Gold Corp. Reports Assay Results Completes at Zones 2.0 and 2.5 of the Colomac Main Sill, Part of the Colomac Gold Project Centrally Located Within its Indin Lake Gold Property, Northwest Territories, Canada

Nighthawk Gold Corp. Appoints Keyvan Salehi as President, Effective January 1St, 2021

Nighthawk Intersects 141.80 Metres of 2.11 gpt Au Including 31.05 Metres of 4.06 gpt Au

New 90-day low: €0.76

New 90-day low: €0.79

Nighthawk Expands High-Grade Zone 3.5 At Colomac

New 90-day low: €0.81

Nighthawk Gold Corp. Appoints Eric Tremblay to the Board of Directors

Nighthawk Gold Corp. announced that it has received CAD 12.0006 million in funding from Orion Capital, Inc., Northfield Capital Corporation

Nighthawk Gold Corp. Resumes Exploration Activities on Its Indin Lake Gold Property

Shareholder Returns