Artemis Gold Inc (ARTG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Artemis Gold Inc stock C$15.63, price C$40.64, that is 61.5% below the price, quality 59 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range C$3.55 – C$46.43 · fair‑value band C$9.51 – C$22.79 · the C$40.64 price screens above the C$15.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Artemis Gold Inc. engages in the identification, acquisition, and development of gold properties in Canada. The company explores for gold and silver deposits.
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Its flagship asset is its 100% owned Blackwater Gold project, which consists of 328 mineral claims covering an area of 148,688 ha located in central British Columbia. Artemis Gold Inc. was incorporated in 2019 and is headquartered in Vancouver, Canada.
Stock analysis
Artemis Gold Inc (ARTG) currently trades at C$40.64, while our model-based Fair Value estimate is C$15.63, 62% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$21.66 per share, and 0 of the 23 models we run sit above the C$40.64 price.
Bear case: the Asset-Based group reads lowest at C$2.88, and 23 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: C$9.51 (bear) to C$22.79 (bull), the price of C$40.64 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 59/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak, negative or inconsistent.
Artemis Gold Inc reported revenue of C$914M in FY2025 versus C$0 in FY2021. Reported net income was C$349M in FY2025.
Key figures
Market cap C$9.4B (≈ $6.7B) Mid · P/E ratio 17.0 · P/S ratio 6.53 · EPS (TTM) C$2.39 · Net margin 40.7% · Return on equity 49.9% · Return on assets (EBIT) 3.9% (5-year average) · Operating margin 70.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −4% fair-value upside, at −62%, ARTG screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (C$2.88 to C$37.45). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
BearC$9.51Fair Value C$15.63BullC$22.79
Price C$40.64 · Downside -61.5%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$2.04 per share) are deliberately not added.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.
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.29/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+43.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+43.1%
Dividend (yield on the price)0.0%
Growth Forecast
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+34.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +32.0% a year for the price.
News mood ⓘNews mood, the average tone of recent news (91 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: High margins and ROE indicate a possible cost or resource advantage, yet sparse moat signals and commodity exposure limit durability in mining.
Main risk: Stretching capital allocation or operational focus during sequenced Blackwater expansions and Mt Todd integration could impair project execution and growth plans.
Artemis Gold keeps Blackwater Phase 1A and EP2 expansions as the clear priority while agreeing to an all-share acquisition of Vista Gold and its Mt Todd project in Australia. The deal adds a permitted development asset of scale that fits the long-term growth path to one million ounces annually, yet construction there is sequenced only after Blackwater work finishes. Our models see the shares as overvalued. Can management execute the staged expansions and integration without stretching capital allocation or operational focus?
Price, fair value, quality and upside side by side.
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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.Other Precious Metals & Mining · 101 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Top 25%
Fair Value upside−61.5% · Below median
Profitability
Return on equity (12 months)49.9% · Top 25%
Return on assets14.1% · Top 25%
Net margin (12 months)40.7% · Top 25%
Operating margin (12 months)70.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)15.9% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.45× · Highest 25%
Valuation Multiplesvs Other Precious Metals & Mining median · lower = cheaper
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Is Artemis Gold Inc (ARTG) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of C$15.63 versus a price of C$40.64, about 62% lower (overvalued).
What is the fair value of ARTG?
Our model-based fair value for Artemis Gold Inc is C$15.63 (as of Nov 7, 2026), built from audited fundamentals. The current price: C$40.64.
What is the quality score of ARTG?
Artemis Gold Inc has a Quality Score of 59/100. 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 Artemis Gold Inc (ARTG)?
Our model-based price target is the fair value of C$15.63 (as of Nov 7, 2026) from 23 valuation models. Cautious scenario C$9.51, optimistic scenario C$22.79. It is a calculation from audited fundamentals, not an analyst target.
What is the Artemis Gold Inc stock forecast for 2026?
Our models put fair value at C$15.63, about 62% lower versus a price of C$40.64 (overvalued). Cautious scenario C$9.51, optimistic scenario C$22.79. The calculation is refreshed regularly with new filings.
What is the revenue of Artemis Gold Inc (ARTG)?
Artemis Gold Inc reported trailing-twelve-month revenue of about C$1.4B (latest available figure, as of Nov 7, 2026).
What growth is priced into Artemis Gold Inc (ARTG)?
For today's price to be fair in a discounted-cash-flow model, Artemis Gold Inc would have to grow free cash flow by +34.8 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). As of Nov 7, 2026.
What discount rate (WACC) does the fair value of ARTG use?
Our models discount Artemis Gold Inc at 11.0 %: a base by market capitalisation (mid), damped by beta 1.64, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Artemis Gold Inc that is +34.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How fast is the sector of Artemis Gold Inc (ARTG) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Artemis Gold Inc (+34.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Artemis Gold Inc (ARTG)?
The free-cash-flow yield on the price is 1.69 %: that much free cash flow Artemis Gold Inc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Artemis Gold Inc (ARTG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Artemis Gold Inc it is C$15.63 per share (as of Nov 7, 2026), against a price of C$40.64. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Artemis Gold Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ARTG trades above its calculated fair value: price C$40.64, fair value C$15.63, a gap of about −62% (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 ARTG?
No. The price is what the market pays today (C$40.64); the fair value is what the company's own numbers justify (C$15.63). For Artemis Gold Inc the two are C$25.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is Artemis Gold Inc worth?
The market values Artemis Gold Inc at about C$9.4B (market capitalisation, as of Nov 7, 2026). Per share that is C$40.64; our models calculate a fair value of C$15.63 per share.
What do the bullish and bearish scenarios say about ARTG?
Our models span a range for Artemis Gold Inc: cautious scenario C$9.51, base C$15.63, optimistic C$22.79 per share (as of Nov 7, 2026, price C$40.64). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ARTG?
Artemis Gold Inc trades at a price-to-earnings ratio of 17.0 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$15.63 is built from several models across several years. Other multiples: P/B 9.3, P/S 6.5, EV/EBITDA 9.3.
How solid is the balance sheet of Artemis Gold Inc (ARTG)?
Balance-sheet figures for Artemis Gold Inc (as of Nov 7, 2026): return on equity 49.9%, debt of 0.45 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is ARTG from its 52-week high?
Artemis Gold Inc trades at C$40.64, about 12% below its 52-week high of C$46.43 and 38% above the low of C$29.39 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$15.63 is for.
Which stocks are comparable to Artemis Gold Inc?
From the same area (Basic Materials) we also value PT Amman Mineral Internasional Tbk, Hecla Mining Company, China Gold International Resources Corp, Compañía de Minas Buenaventura S.A., 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 Artemis Gold Inc stock attractive at the current price?
The data as of Nov 7, 2026: price C$40.64, calculated fair value C$15.63 (−62%), Quality Score 59/100, from 23 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 ARTG calculated?
We run Artemis Gold Inc through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$15.63 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 13.0% above its aggregate fair value. Artemis 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 Artemis Gold Inc (ARTG)?
The closing price on Nov 6, 2026 was C$40.64. Our model-based fair value is C$15.63, about 62% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Artemis Gold Inc right now?
The price sits above even our optimistic bull case (C$22.79). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (C$9.51 to C$22.79) leaves room in how you read the outcome.
Key figures of Artemis Gold Inc
How large is the market capitalisation of Artemis Gold Inc (ARTG)?
The market capitalisation of Artemis Gold Inc is C$9.4B (≈ $6.7B). 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 Artemis Gold Inc (ARTG)?
The price-to-sales ratio of Artemis Gold Inc is 6.53 (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 Artemis Gold Inc (ARTG)?
Earnings per share at Artemis Gold Inc are C$2.39 (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Artemis Gold Inc (ARTG)?
The net margin of Artemis Gold Inc is 40.7% (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 Artemis Gold Inc (ARTG)?
The return on equity (ROE) of Artemis Gold Inc is 49.9% (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 Artemis Gold Inc (ARTG)?
On an EBIT basis the return on assets of Artemis Gold Inc is 3.9% (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 Artemis Gold Inc (ARTG)?
The operating margin of Artemis Gold Inc is 70.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Artemis Gold Inc (ARTG)?
Revenue at Artemis Gold Inc is growing +15.9% 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 Artemis Gold Inc (ARTG)?
Earnings per share at Artemis Gold Inc are growing +26.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Artemis Gold Inc (ARTG) carry?
The net debt of Artemis Gold Inc is C$282M (fiscal year 2025, ≈ 1.8 yrs of FCF). 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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Nov 7, 2026