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Canadian gold developer advancing the large Springpole gold-silver project in northern Ontario.
Canadian gold developer advancing the large Springpole gold-silver project in northern Ontario.
No mine yet, so it earns no sales: spending on Springpole's permits and studies is funded by raising outside capital, and value depends on getting a project approved and financed. It also holds a second, smaller project in Quebec.
In one line: No US peer; pre-production Canadian gold developer..
Moat: none (installed base). Pre-production developer; no revenue yet and no structural cost advantage.
Headquarters: Vancouver, Canada · Founded: 2009 · Employees: 30
Size First Mining Gold (FF.TO) is a Canada Materials company (Precious Metals) with a market value of $670M, the 303rd largest of 420 Canada companies the cockpit tracks. Shares closed at C$0.66 on 6 Nov 2026.
Performance Over six months the shares gained 33.3%, against -4.1% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd highest of 20 in its peer set.
Valuation It trades at 4.14× book value against a peer median of 2.95× (8th most expensive of 21).
Price implies The share price implies a return on equity of about 30.4%; First Mining Gold delivers -32.5%, so the price asks more than the business earns today.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$0 | C$0 | C$0 | C$0 | C$0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -C$430,000 | -C$449,000 | -C$486,000 | -C$479,000 | -C$411,000 |
| EBITDA | -C$10.0M | -C$8.82M | -C$7.30M | -C$6.55M | -C$7.00M |
| Net income | -C$72.5M | -C$77.9M | -C$15.3M | -C$7.04M | -C$16.3M |
| Free cash flow | -C$36.6M | -C$27.4M | -C$25.1M | -C$23.6M | -C$30.8M |
| Capital expenditure | C$27.7M | C$20.0M | C$21.1M | C$18.5M | C$25.7M |
| Total debt | C$137,000 | C$175,000 | C$221,000 | C$172,000 | C$315,000 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| First Mining Gold FF.TO | $670M | +33% | n/a | -33% | 4.14× | 30.4% |
| Osisko Gold OGG.V | $814M | -18% | +805% | 8% | 0.99× | 13.4% |
| Artemis Gold ARTG.V | $6.76B | +18% | +148% | 50% | 6.43× | 58.6% |
| Skeena Resources SKE.TO | $3.90B | +6% | n/a | -175% | 31.93× | 388.4% |
| New Found Gold NFGC.TO | $662M | -16% | n/a | -19% | 1.82× | 19.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FF.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.9% | -9.3% | 5th highest of 21 |
| 6-month return | +33.3% | -4.1% | 2nd highest of 20 |
| Return on equity | -32.5% | 6.9% | 4th lowest of 21 |
| Price / book | 4.14× | 2.95× | 8th most expensive of 21 |
| ROE the price implies | 30.4% | 26.0% | 9th most demanding of 21 |
| ROE delivered | -32.5% | 6.9% | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| First Mining Gold FF.TO | Canada | $670M | +33% | n/a | -33% | 4.14× | 30.4% | -32.5% |
| New Found Gold NFGC.TO | Canada | $662M | -16% | n/a | -19% | 1.82× | 19.2% | -19.4% |
| Amaroq AMRQ.L | United Kingdom | $657M | 0% | +2,134% | 2% | 3.10× | 22.7% | 1.8% |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 26% | 2.03× | 21.2% | 26.0% |
| Tungsten West TUN.L | United Kingdom | $694M | -18% | n/a | -608% | 8.26× | 86.4% | -607.6% |
| Santacruz Silver Mining SCZ.TO | Canada | $707M | n/a | +38% | 22% | 3.28× | 53.5% | 22.1% |
| Griffin Mining GFM.L | United Kingdom | $711M | -4% | +29% | 12% | 2.42× | 21.0% | 12.0% |
| Mako Mining MKO.V | Canada | $712M | +7% | +79% | 36% | 3.70× | 36.5% | 36.1% |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -4% | 0.96× | 14.2% | -4.3% |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 14% | 2.12× | 17.8% | 13.5% |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | -122% | 7.28× | 110.2% | -121.9% |
| Founders Metals FDR.V | Canada | $734M | +42% | n/a | -9% | 5.52× | 30.0% | -9.2% |
| Catalyst Metals CYL.AX | Australia | $746M | -28% | +75% | 29% | 1.52× | 15.2% | 29.2% |
| Anglo Asian Mining AAZ.L | United Kingdom | $590M | +30% | +220% | 58% | 4.42× | 39.4% | 58.0% |
| Kingsgate Consolidated KCN.AX | Australia | $779M | -39% | +77% | 63% | 2.01× | 21.9% | 63.3% |
| FireFly Metals FFM.AX | Australia | $798M | -31% | n/a | -8% | 2.39× | 29.4% | -8.3% |
| Dakota Gold DC | United States | $798M | -1% | n/a | -23% | 4.34× | 38.7% | -23.4% |
| Avino Silver & Gold Mines ASM.TO | Canada | $799M | -30% | +54% | 21% | 2.79× | 46.7% | 20.8% |
| Gold Reserve GRZ.V | Canada | $560M | -19% | n/a | -41% | 4.59× | 12.9% | -41.5% |
| Andean Precious Metals APM.TO | Canada | $555M | -20% | +63% | 49% | 1.84× | 21.4% | 49.2% |
| Banyan Gold BYN.V | Canada | $554M | +18% | n/a | -5% | 5.50× | 64.9% | -4.8% |