OTCPK:FFMG.F

Stock Analysis Report

Executive Summary

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

Rewards

Trading at 87.6% below its fair value

Risk Analysis

Has less than 1 year of cash runway

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year



Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

How has First Mining Gold's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FFMG.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.4%

FFMG.F

-0.9%

US Metals and Mining

1.5%

US Market


1 Year Return

-33.3%

FFMG.F

0.9%

US Metals and Mining

20.1%

US Market

Return vs Industry: FFMG.F underperformed the US Metals and Mining industry which returned 0.9% over the past year.

Return vs Market: FFMG.F underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

FFMG.FIndustryMarket
7 Day1.4%-0.9%1.5%
30 Day-6.3%-7.1%1.4%
90 Day3.1%-1.1%8.7%
1 Year-33.3%-33.3%3.5%0.9%22.7%20.1%
3 Year-78.1%-78.1%-6.3%-11.3%50.1%40.5%
5 Yearn/a18.7%9.4%73.1%54.1%

Price Volatility Vs. Market

How volatile is First Mining Gold's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is First Mining Gold undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FFMG.F ($0.17) is trading below our estimate of fair value ($1.39)

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


Price To Earnings Ratio

PE vs Industry: FFMG.F is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: FFMG.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FFMG.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FFMG.F is good value based on its PB Ratio (0.5x) compared to the US Metals and Mining industry average (1.5x).


Next Steps

Future Growth

How is First Mining Gold forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

71.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FFMG.F is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: FFMG.F is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: FFMG.F is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if FFMG.F's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if FFMG.F's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

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

-23.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FFMG.F is currently unprofitable.

Growing Profit Margin: FFMG.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: FFMG.F is unprofitable, and losses have increased over the past 5 years at a rate of -23.4% per year.

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

Earnings vs Industry: FFMG.F is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (14.9%).


Return on Equity

High ROE: FFMG.F has a negative Return on Equity (-3.95%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is First Mining Gold's financial position?


Financial Position Analysis

Short Term Liabilities: FFMG.F's short term assets (CA$9.7M) exceed its short term liabilities (CA$1.4M).

Long Term Liabilities: FFMG.F has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: FFMG.F is debt free.

Reducing Debt: FFMG.F has no debt compared to 5 years ago when its debt to equity ratio was 12.1%.


Balance Sheet

Inventory Level: FFMG.F has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if FFMG.F's debt is covered by short term assets.


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: FFMG.F has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: FFMG.F has less than a year of cash runway if free cash flow continues to reduce at historical rates of -28.4% each year


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.6%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FFMG.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Dan Wilton 0

1.1yrs

Tenure

0

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  ...


Leadership Team

NamePositionTenureCompensationOwnership
Andrew Marshall
Chief Financial Officer3.4yrsCA$403.40k0.029% CA$29.5k
Daniel Wilton
CEO & Director1.1yrsno data0.42% CA$420.3k
Kenneth Engquist
Chief Operating Officer0.8yrsno data0.027% CA$27.0k
Mal Karwowska
Vice President of Corporate Development & Investor Relations0.8yrsno data0.019% CA$18.9k
Samir Patel
General Counsel & Corporate Secretary3.7yrsno data0.027% CA$27.6k
Raul Diaz-Unzueta
Exploration Manager of Latin America4.9yrsCA$167.65kno data

2.3yrs

Average Tenure

Experienced Management: FFMG.F's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Daniel Wilton
CEO & Director1.1yrsno data0.42% CA$420.3k
Keith Neumeyer
Chairman of the Board4.9yrsCA$480.70k2.04% CA$2.1m
Michel Bouchard
Independent Director3.8yrsCA$272.90k0.17% CA$173.5k
David Shaw
Independent Director4.9yrsCA$518.82k0.18% CA$176.9k
Raymond Polman
Independent Director4.9yrsCA$279.90k0.060% CA$60.5k
William Tanaka
Member of Technical Advisory Committee0yrsCA$449.98kno data

4.9yrs

Average Tenure

62yo

Average Age

Experienced Board: FFMG.F's board of directors are considered experienced (4.9 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.2%.


Top Shareholders

Company Information

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


Key Information

  • Name: First Mining Gold Corp.
  • Ticker: FFMG.F
  • Exchange: OTCPK
  • Founded: 2005
  • Industry: Gold
  • Sector: Materials
  • Market Cap: CA$133.050m
  • Listing Market Cap: CA$100.400m
  • Shares outstanding: 604.77m
  • Website: https://www.firstmininggold.com

Number of Employees


Location

  • First Mining Gold Corp.
  • 925 West Georgia Street
  • Suite 1800
  • Vancouver
  • British Columbia
  • V6C 3L2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FFTSX (The Toronto Stock Exchange)YesNew Common SharesCACADMar 2015
FFMG.FOTCPK (Pink Sheets LLC)YesNew Common SharesUSUSDMar 2015
FMGDB (Deutsche Boerse AG)YesNew Common SharesDEEURMar 2015
0P07LSE (London Stock Exchange)YesNew Common SharesGBCADMar 2015

Biography

First Mining Gold Corp. develops and explores for gold projects. The company also explores for copper and iron ore deposits. It holds a portfolio of 24 mineral assets in Canada, Mexico, and the United States. The company was formerly known as First Mining Finance Corp. and changed its name to First Mining Gold Corp. in January 2018. First Mining Gold Corp. was incorporated in 2005 and is headquartered in Vancouver, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 01:15
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.