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Argo Gold Inc (ARBTF) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of Argo Gold Inc stock $0.04, price $0.06, that is 41.9% below the price, quality 27 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials US · Based in Canada

AG Argo Gold Inc logo Thin data Nov 12, 2026

Argo Gold Inc

ARBTF · US

Far too expensive (fair value 42% below the price) and weak company, but rising price: meets 1 of 3 rules.

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Rising price (uptrend) 
Revenue last quarter +26% vs. a year ago. 
Fair value $0.0360 · Strongly overvalued 
Quality 27/100 
Weak Growth (revenue YoY −32.3 %/yr in CAD) 
Loss-making · -42.6% net margin (TTM) 
Negative free cash flow 
Trails peers (2/10) 
Narrow moat 30/100 · thin data
Thin data 
⟳ Cyclical⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$0.1387 $0.0360 Fair Value $0.0360 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.

How to read this chart

60‑month range $0.0360 – $0.1387 · fair‑value band $0.0360 – $0.0421 · the $0.0619 price screens above the $0.0360 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.

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Company profile

Argo Gold Inc. engages in the acquisition, exploration, development, and production of mineral properties in Canada. It explores for gold, silver, nickel, copper, platinum group metals, cobalt, lead, zinc, and uranium deposits.

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The company has a mineral exploration permit for the Uchi Gold Project located 90 kilometres east of Red Lake, Ontario. The company was formerly known as Arbitrage Exploration Inc. and changed its name to Argo Gold Inc. in September 2016.

Argo Gold Inc. was incorporated in 1995 and is based in Toronto, Canada.

Stock analysis

Argo Gold Inc (ARBTF) currently trades at $0.0619, while our model-based Fair Value estimate is $0.0360, 42% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $0.0360 (bear) to $0.0421 (bull), the price of $0.0619 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 27/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Argo Gold Inc reported revenue of C$1.5M in FY2025 versus C$0 in FY2021. Reported net income was −C$920K in FY2025.

Key figures

Market cap $4.5M Micro · P/S ratio 2.93 · EPS (TTM) $−0.0100 · Net margin −42.6% · Return on equity −60.9% · Return on assets (EBIT) −31.2% (5-year average) · Operating margin 35.0% · Revenue (TTM) C$1.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 57% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −2% fair-value upside, at −42%, ARBTF screens richer than that median.

Fair Value models

Bear $0.0360 Fair Value $0.0360 Bull $0.0421
Price $0.0619 · Downside -41.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA $0.0200 $0.0200 $0.0300 64
All 1 models by family
Multiples
EV/EBITDA $0.0200 $0.0200 $0.0300 64

Open the full fair value analysis →

Quality Score breakdown

Overall quality 27/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 16
How much profit the company makes from its sales and capital
Quality Growth 9
Are margins and returns getting better?
Cashflow 15
Do the profits arrive as real cash?
Financial strength 9
Debt, balance sheet and risk of trouble
Investment 53
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 37
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 46
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ARBTF screens overvalued: fair value 42% below the price. Compare with Newmont Corporation →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 282 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −41.8% · Bottom 25%
Profitability
Return on assets −40.3% · Bottom 25%
Net margin (12 months) −42.6% · Bottom 25%
Operating margin (12 months) 35.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 25.7% · Above median

Valuation Multiplesvs Gold median · lower = cheaper

P/B 14.72× · Priciest 25%
P/S (12 months) 4.11× · Pricier than median
EV/EBITDA 10.2× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 7
FUTURE (revenue growth)100 · sector 74
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 99
DIVIDEND (yield)0 · sector 26

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Pan American Silver Corp PAAS $37.50 $50.26 +34% vs ARBTF
Agnico Eagle Mines Limited AEM $178.45 $220.07 +23% vs ARBTF
Newmont Corporation NEM $113.14 $130.32 +15% vs ARBTF
AngloGold Ashanti plc AU $86.29 $88.58 +3% vs ARBTF
Royal Gold, Inc RGLD $256.89 $251.36 −2% vs ARBTF
Shandong Gold Mining Co 600547 ¥24.41 ¥23.61 −3% vs ARBTF
Kinross Gold Corporation KGC $20.76 $18.00 −13% vs ARBTF
Franco-Nevada Corporation FNV $247.01 $212.22 −14% vs ARBTF
Wheaton Precious Metals Corp WPM $131.45 $87.64 −33% vs ARBTF
Zijin Mining Group 601899 ¥26.38 ¥15.62 −41% vs ARBTF

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Argo Gold Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Argo Gold Inc Fair Value". https://www.fairvalue-calculator.com/stock/ARBTF

Frequently asked questions

Is Argo Gold Inc (ARBTF) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of $0.0360 versus a price of $0.0619, about 42% lower (overvalued).
What is the fair value of ARBTF?
Our model-based fair value for Argo Gold Inc is $0.0360 (as of Nov 12, 2026), built from audited fundamentals. The current price: $0.0619.
What is the quality score of ARBTF?
Argo Gold Inc has a Quality Score of 27/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Argo Gold Inc (ARBTF)?
Our model-based price target is the fair value of $0.0360 (as of Nov 12, 2026) from 1 valuation models. Cautious scenario $0.0360, optimistic scenario $0.0421. It is a calculation from audited fundamentals, not an analyst target.
What is the Argo Gold Inc stock forecast for 2026?
Our models put fair value at $0.0360, about 42% lower versus a price of $0.0619 (overvalued). Cautious scenario $0.0360, optimistic scenario $0.0421. The calculation is refreshed regularly with new filings.
What is the revenue of Argo Gold Inc (ARBTF)?
Argo Gold Inc reported trailing-twelve-month revenue of about C$1.5M (latest available figure, as of Nov 12, 2026).
What is the intrinsic value of Argo Gold Inc (ARBTF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Argo Gold Inc it is $0.0360 per share (as of Nov 12, 2026), against a price of $0.0619. It is the blended result of 1 valuation models in 1 family (Multiples).
Is Argo Gold Inc stock overvalued or undervalued in 2026?
As of Nov 12, 2026, ARBTF trades above its calculated fair value: price $0.0619, fair value $0.0360, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ARBTF?
No. The price is what the market pays today ($0.0619); the fair value is what the company's own numbers justify ($0.0360). For Argo Gold Inc the two are $0.0259 per share apart. That gap is exactly why we show both numbers side by side.
How much is Argo Gold Inc worth?
The market values Argo Gold Inc at about $4.5M (market capitalisation, as of Nov 12, 2026). Per share that is $0.0619; our models calculate a fair value of $0.0360 per share.
What do the bullish and bearish scenarios say about ARBTF?
Our models span a range for Argo Gold Inc: cautious scenario $0.0360, base $0.0360, optimistic $0.0421 per share (as of Nov 12, 2026, price $0.0619). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Argo Gold Inc (ARBTF)?
Balance-sheet figures for Argo Gold Inc (as of Nov 12, 2026): return on equity −60.9%. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is ARBTF from its 52-week high?
Argo Gold Inc trades at $0.0619, about 37% below its 52-week high of $0.0985 and 57% above the low of $0.0395 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0360 is for.
Which stocks are comparable to Argo Gold Inc?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Argo Gold Inc stock attractive at the current price?
The data as of Nov 12, 2026: price $0.0619, calculated fair value $0.0360 (−42%), Quality Score 27/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ARBTF calculated?
We run Argo Gold Inc through 1 models from 1 family: Multiples. Every model gets the same audited fundamentals; the fair value of $0.0360 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9% above its aggregate fair value. Argo Gold Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Argo Gold Inc (ARBTF)?
The closing price on Nov 13, 2026 was $0.0619. Our model-based fair value is $0.0360, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Argo Gold Inc right now?
The price sits above even our optimistic bull case ($0.0421). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Argo Gold Inc

How large is the market capitalisation of Argo Gold Inc (ARBTF)?
The market capitalisation of Argo Gold Inc is $4.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Argo Gold Inc (ARBTF)?
The price-to-sales ratio of Argo Gold Inc is 2.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Argo Gold Inc (ARBTF)?
Earnings per share at Argo Gold Inc are $−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Argo Gold Inc (ARBTF)?
The net margin of Argo Gold Inc is −42.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Argo Gold Inc (ARBTF)?
The return on equity (ROE) of Argo Gold Inc is −60.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Argo Gold Inc (ARBTF)?
On an EBIT basis the return on assets of Argo Gold Inc is −31.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Argo Gold Inc (ARBTF)?
The operating margin of Argo Gold Inc is 35.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Argo Gold Inc (ARBTF)?
Revenue at Argo Gold Inc is growing +25.7% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Argo Gold Inc (ARBTF)?
Earnings per share at Argo Gold Inc are growing −71.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Argo Gold Inc (ARBTF) generate?
The free cash flow of Argo Gold Inc is −C$30.0K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Argo Gold Inc (ARBTF) carry?
The net debt of Argo Gold Inc is C$979K (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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