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Vista Gold Corp. (TSE:VGZ)
TSX:VGZ
Top Page
Vista Gold
(TSX:VGZ)
59Neutral
Positive Factors
Drill Results
Additional Phase 2 drill results from Mt Todd show a lot of potential, with high-grade intercepts yielding promising gold concentrations.
Feasibility Study
The new Feasibility Study for Mt Todd aims to increase the reserve grade to 1 gram per tonne gold while decreasing initial capital expenditures by 60%.
Negative Factors
Mineral Royalties Act
The new Mineral Royalties Act altered the royalty rate applicable to Mt Todd to be 3.5% of the value of gold produced, compared with a prior ad valorem rate of 7%.
Vista Gold (VGZ) vs. S&P 500 (SPY)
Market Cap
$132.41M
Dividend YieldN/A
Average Volume (3M)20.41K
Price to Earnings (P/E)9.1
Beta (1Y)1.22
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees12
SectorBasic Materials
Sector Strength63
IndustryMining
Share Statistics
EPS (TTM)0.12
Shares Outstanding123,752,014
10 Day Avg. Volume31,335
30 Day Avg. Volume20,406
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
Price to Cash Flow (P/CF)-12.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.95Price Target Upside280.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Vista Gold Business Overview & Revenue Model
Company DescriptionVista Gold Corp. engages in the evaluation, acquisition, exploration, and advancement of gold exploration and potential development projects. It focuses on Mt. Todd in Northern Territory, Australia project. The company was founded on November 28, 1983 and is headquartered in Littleton, CO.
How the Company Makes MoneyVista Gold Corp. generates revenue primarily through the development and potential future production of gold from its mining projects. The company's main focus is on the Mt Todd gold project, where it aims to enhance the project's value through feasibility studies, permitting, and other developmental activities. Although currently Vista Gold does not have active mining operations, it aims to earn income through strategic partnerships, joint ventures, or the sale of its exploration and development rights. Additionally, any appreciation in the value of gold reserves due to favorable market conditions can contribute to the company's financial performance. Vista Gold also relies on financing activities to support its operations and exploration endeavors until it can achieve production and revenue generation from its projects.
Vista Gold Financial Statement Overview
Summary
Vista Gold's financial health is characterized by a strong balance sheet with zero debt and significant equity, but it struggles with no revenue and consistent losses impacting its income statement. Cash flow management has been prudent, yet negative free cash flow persists. The company's sustainability hinges on its ability to generate revenue and transform its operational structure.Income Statement
Vista Gold's income statement reveals persistent challenges with no recorded revenue and consistent operating losses. The company showed a notable increase in EBIT and net income for the TTM, but this is primarily due to cost management rather than revenue generation. The absence of revenue and a history of losses significantly constrain profitability metrics, leading to a low score.15
Very Negative
Balance Sheet
The balance sheet reflects a solid equity position with zero debt, indicating a conservative capital structure. The equity ratio is strong, and the company has a history of maintaining low liabilities relative to assets. Despite this stability, the lack of revenue generation remains a concern, limiting further improvements in the score.60
Neutral
Cash Flow
Cash flow analysis shows significant reliance on financing and investing activities to maintain operations, with negative free cash flow across periods. Operating cash flow remains negative, yet the management of cash and investments has bolstered liquidity. The negative free cash flow growth and reliance on external funding sources limit the score.50
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| -55.00K | 0.00 | -45.00K | -49.00K | -48.00K | -52.00K | EBIT |
| 10.54M | -6.72M | -5.45M | -15.34M | -2.26M | -8.09M | EBITDA |
| -7.12M | -6.72M | -8.29M | -11.89M | -8.32M | -8.03M | Net Income Common Stockholders |
| 11.25M | -6.58M | -4.41M | -18.59M | 8.95M | -10.91M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 16.95M | 6.07M | 8.11M | 13.14M | 8.46M | 8.34M | Total Assets |
| 18.97M | 8.93M | 10.99M | 16.34M | 17.23M | 16.68M | Total Debt |
| 0.00 | 0.00 | 0.00 | 0.00 | 13.00K | 8.00K | Net Debt |
| -16.95M | -6.07M | -8.11M | -12.76M | -7.75M | -1.40M | Total Liabilities |
| 1.07M | 3.98M | 957.00K | 2.05M | 1.38M | 4.04M | Stockholders Equity |
| 17.91M | 4.95M | 10.03M | 14.29M | 15.85M | 12.65M |
| Cash Flow | Free Cash Flow | ||||
| -6.08M | -5.91M | -7.42M | -10.76M | -7.02M | -7.09M | Operating Cash Flow |
| -5.74M | -5.86M | -7.41M | -10.62M | -6.96M | -7.05M | Investing Cash Flow |
| 15.59M | 2.95M | 2.88M | 2.63M | 11.63M | 7.38M | Financing Cash Flow |
| 1.02M | 871.00K | -113.00K | 12.98M | 1.68M | 13.00K |
Vista Gold Technical Analysis
Positive
1.04
Price Trends
0.92
Positive
0.88
Positive
0.84
Positive
Market Momentum
0.05
Negative
56.46
Neutral
79.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VGZ, the sentiment is Positive. The current price of 1.04 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 0.92, and above the 200-day MA of 0.84, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 56.46 is Neutral, neither overbought nor oversold. The STOCH value of 79.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:VGZ.
Vista Gold Risk Analysis
Vista Gold disclosed 37 risk factors in its most recent earnings report. Vista Gold reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vista Gold Peers Comparison
Overall Rating
UnderperformOutperform
Sector (47)
Financial Indicators
Performance Comparison
TSE:VGZ
Vista Gold
1.04
0.36
52.94%
BTG
B2Gold
2.96
0.47
18.88%
TSE:KNT
K92 Mining
10.88
4.44
68.94%
OR
Osisko Gold Royalties
19.75
3.95
25.00%
Vista Gold Earnings Call Summary
Earnings Call Date: Feb 28, 2025 | % Change Since: 15.56% | Next Earnings Date: Apr 25, 2025
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant financial improvements and progress on the Mt Todd project, despite increased exploration costs and discussions on strategic risks. The strong financial turnaround and advancements in project feasibility studies were key highlights.Highlights
Significant Financial Turnaround
Vista Gold reported a net income of $11.2 million for the year ended December 31, 2024, compared to a net loss of $6.6 million in 2023.
Successful Wheaton Royalty Transaction
Vista recognized a $16.9 million gain from the Wheaton royalty transaction, contributing to their favorable financial outcome.
Mt Todd Feasibility Study Progress
Initiation of a new feasibility study targeting a 60% reduction in capital costs, with expected completion by mid-2025, aiming to make Mt Todd a more attractive ready-to-build project.
Safety and Environmental Achievements
2024 marked zero lost time incidents at Mt Todd, reaching 1,211 consecutive accident-free days, and the publication of Vista's 2024 ESG report.
Strong Cash Position
Ended the year with $16.9 million in cash and no debt, providing a strong financial position for future developments.
Lowlights
Increased Exploration Costs
Exploration-related costs increased to $3.5 million in 2024 from $3.2 million in 2023, due to several technical studies.
Operational and Market Risks
Concerns about borrowing for CapEx without partners and the potential dilution of shareholder value were discussed, highlighting operational and strategic risks.
Company Guidance
During the conference call, Vista Gold provided guidance on several key metrics and strategic plans for 2025. The company reported a net income of $11.2 million for the fiscal year 2024, a significant improvement from a net loss of $6.6 million in 2023. This financial performance was bolstered by a $16.9 million gain from a royalty transaction with Wheaton Precious Metals and an $800,000 gain from the sale of used mill equipment. Vista ended 2024 with $16.9 million in cash and no debt, positioning it well to complete a new feasibility study for the Mt Todd project by mid-2025. This study aims to reduce the project's capital expenditure by 60% to $400 million, with plans to produce 150,000 to 200,000 ounces of gold annually. The company also highlighted its commitment to ESG initiatives, reporting zero lost time incidents and 1,211 consecutive accident-free days at the Mt Todd site. Additionally, the updated economics of the 2022 feasibility study showed improved project economics due to higher gold prices and updated cost components. These efforts are expected to enhance the project's attractiveness and potentially draw investor interest for strategic transactions.Vista Gold Corporate Events
Business Operations and StrategyFinancial Disclosures
Vista Gold Corp. Reports Strong 2024 Financial Results and Advances Mt Todd Project
Positive
Feb 28, 2025
Vista Gold Corp. announced its 2024 financial results, highlighting a strong financial position with $16.9 million in cash and a net income of $11.2 million, a significant turnaround from the previous year’s loss. The company is advancing its Mt Todd project with a new feasibility study aimed at reducing initial capital expenditure and increasing gold production, positioning it for near-term development and long-term success.
Product-Related AnnouncementsBusiness Operations and Strategy
Vista Gold to Showcase Mt Todd Project at PDAC 2025
Positive
Feb 26, 2025
Vista Gold Corp. announced its participation in the Prospectors & Developers Association of Canada 2025 Convention, aiming to showcase the Mt Todd project as a premier ready-to-build gold project. The company will engage with attendees to discuss the project’s potential and strategic advancements, highlighting its position within the gold sector and the value it offers to stakeholders.
Business Operations and Strategy
Vista Gold Targets Value Realization with 2025 Strategic Initiatives
Positive
Feb 19, 2025
Vista Gold Corp. has announced its 2025 strategic outlook, emphasizing the completion of the Mt Todd feasibility study as a cornerstone for delivering value to shareholders. The study is expected to position Mt Todd as a significant development opportunity in the gold sector by increasing the reserve grade and reducing initial capital expenditures. The company aims to attract a diverse range of investors and is committed to maintaining safety and operational efficiency, highlighting over three years without a lost time incident at Mt Todd.
Product-Related AnnouncementsBusiness Operations and Strategy
Vista Gold’s 2024 Drilling at Mt Todd Indicates Potential Reserve Increase
Positive
Feb 4, 2025
Vista Gold Corp. has announced promising results from its 2024 drilling program at the Mt Todd project, indicating a potential increase in gold mineral reserves in the Batman deposit. The drilling also successfully delineated the South Cross Lode, presenting opportunities to expand the mineral resource shell. These results are expected to be incorporated into an updated mineral resources estimate and feasibility study, potentially enhancing the company’s resource base and operational prospects.
Vista Gold Concludes 2024 Drilling at Mt Todd with Promising Results
Jan 13, 2025
Vista Gold Corp. has announced the final drill results from its 2024 drilling program at the Mt Todd gold project. The results reveal high-grade gold intercepts, particularly in the South Cross Lode, which are consistent with prior findings and demonstrate mineralization continuity at shallow depths. This is expected to positively impact updates to the resource model and reserve estimates, supporting the ongoing Mt Todd feasibility study.
Vista Gold Advances Mt Todd Project with 2024 Achievements
Jan 8, 2025
Vista Gold Corp. announced significant achievements in 2024, advancing the Mt Todd project as a leading development opportunity in the gold sector. The company successfully completed its 2024 drilling program, which is expected to positively impact its gold inventory. The drilling revealed high-grade gold intercepts, and the completion of trade-off studies led to a feasibility study that could enhance the economic viability of Mt Todd. Vista Gold also maintained strong safety and environmental records, fostering good relationships with stakeholders and contributing to its inaugural ESG report.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.