YouTube · Q1 FY2027 · 2026-09-11
GLDG · NYSE American
GoldMining Inc.
Gold · Canada
USD 0.72-0.7% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$154.50M
- Trailing P/E
- —
- Forward P/E
- —
- Quarterly revenue growth
- —
- Trailing net margin
- 0.0%
- Indicated dividend yield
- —
Snapshot 2026-11-03 · Latest financial period 2026-08-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
GoldMining Inc., a mineral exploration company, engages in the acquisition, exploration, and development of projects in Canada, the United States, Brazil, Colombia, and Peru. The company explores for gold, copper, silver, and uranium deposits. Its principal projects include the 100% owned La Mina gold project, which comprises two concessions covering 3,208 hectares located southwest of Medellin in the Department of Antioquia, Colombia; the 100% owned Titiribi gold-copper project, which covers an area of 3,919 hectares located southwest of Medellín in the Department of Antioquia, Colombia; the 100% owned São Jorge gold project, which comprises eight exploration permits totaling 46,485 hectares located in the Tapajós Gold District in Pará State, Brazil; and the Whistler gold-copper project, which covers an area totaling 53,700 acres located northwest of Anchorage in Alaska, the United States. The company was formerly known as Brazil Resources Inc. and changed its name to GoldMining Inc. in December 2016. GoldMining Inc. was incorporated in 2009 and is headquartered in Vancouver, Canada.
Company websiteQ3 FY2026
Go beyond the headline.
GLDG Stock: Working Capital Is Not Spendable Cash — Q3 FY2026
Published 2026-10-14
Q3 FY2026 REPORT HIGHLIGHTS
What’s changed for GLDG
A source-based examination of exploration spending, locked holdings and risk-adjusted project value.
The quarter bought exploration progress.
C$11.40m of exploration expense drove most of the operating loss; this is a pre-revenue business.
Cash is narrower than working capital.
The C$46.61m headline includes marketable holdings and a locked NevGold position.
Count USGO once.
Valuing its listed shares requires removing its cash and liabilities from the parent residual calculation.
A PEA is a conditional project study.
São Jorge’s $532.5m NPV uses $3,500 gold and does not establish reserves or funded construction.
Price already gives projects credit.
Our adjusted listed-stake baseline leaves roughly $56.93m of project value implied by the stock price.
Comparable businesses
GLDG peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | GLDGGoldMining Inc.Snapshot 2026-11-03Financial period: 2026-08-31 | USAUU.S. Gold Corp.Snapshot 2026-11-03Financial period: 2026-07-31 | HMYHarmony Gold Mining Company LimitedSnapshot 2026-11-03Financial period: 2026-06-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$154.50M | US$173.72M | US$9.53B |
| Forward P/EProvider forward earnings estimate | — | — | 4.60x |
| EV / EBITDAEnterprise value / trailing EBITDA | — | — | — |
| Revenue growthLatest quarter vs prior-year quarter | — | — | 49.2% |
| Operating marginLatest reported quarter | 0.0% | 0.0% | 47.2% |
| Free cash flow yieldTrailing cash flow / market cap | — | -7.5% | — |
| Net debt / EBITDANet debt / trailing EBITDA | — | — | 0.02x |
| Debt / equityTotal debt / positive book equity | 0.00x | 0.00x | 0.13x |
| Trailing P/ETrailing twelve-month earnings | — | — | 5.55x |
| Price / bookPrice / positive book equity per share | 1.09x | 3.87x | 2.07x |
| EV / salesEnterprise value / trailing revenue | — | — | — |
| Earnings growthLatest quarter vs prior-year quarter | — | — | 198.8% |
| Gross marginTrailing twelve months | 0.0% | 0.0% | 49.6% |
| Net marginTrailing twelve months | 0.0% | 0.0% | 29.6% |
| Return on equityProvider trailing return; positive equity only | -21.9% | -55.2% | 48.0% |
| Free cash flow marginTrailing free cash flow / revenue | — | — | 9.9% |
| Dividend yieldIndicated annual dividend / price | — | — | 5.1% |
| Earnings payoutProvider trailing dividend payout | 0.0% | 300.0% | 15.3% |
| Current ratioCurrent assets / current liabilities | 17.38x | 37.16x | 0.84x |
| BetaProvider historical market sensitivity | 1.85 | 1.11 | 0.91 |
YouTube · Q1 FY2027 · 2026-09-11
YouTube · FY2026 · 2026-08-28
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for GLDG
Q3 FY20262026-10-14
FREE RESEARCH PACKET · Q3 FY2026
GLDG: working capital is not the same as spendable cash
A source-based examination of exploration spending, locked holdings and risk-adjusted project value.
Research published October 14, 2026 · Download original report
Read Research PacketGLDG Stock: Working Capital Is Not Spendable Cash — Q3 FY2026
Presentation · 2026-10-14 · YouTube