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First Mining Gold Corp (FF) fair value: what the stock is really worth

As of Oct 23, 2026: fair value (intrinsic value) of First Mining Gold Corp stock C$0.09, price C$0.60, upside -85.8%, quality 29 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Basic Materials · CA · ISIN CA3208901064

FM First Mining Gold Corp logo Thin data Oct 27, 2026

First Mining Gold Corp

FF · TO

Weakest SetupStrongly overvalued and low quality.

Our calculation puts a fair price 86% below what the stock costs today.

Fair value C$0.0850 · Strongly overvalued (−85.8%)
Quality 29/100
Negative free cash flow
Trails peers (0/7)
Narrow moat 8/100 · thin data
Thin data
⟳ Cyclical⚠ Dilution
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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

C$0.9700 C$0.1000 Fair Value C$0.0850 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 27, 2026.

How to read this chart

60‑month range C$0.1000 – C$0.9700 · fair‑value band C$0.0595 – C$0.1275 · the C$0.6000 price screens above the C$0.0850 fair value. Dashed = 300-day average. As of Oct 27, 2026.

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Company profile

First Mining Gold Corp. acquires, develops, and explores mineral properties in Canada. It primarily explores gold and silver deposits.

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The company holds interests in the Springpole Gold Project covering an area of approximately 800 hectares located in northwestern Ontario; and Duparquet Gold Project, located on the destor-porcupine fault zone in the Abitibi region of Quebec, Canada.

First Mining Gold Corp. was founded in 2015 and is based in Vancouver, Canada.

Stock analysis

First Mining Gold Corp (FF) currently trades at C$0.6000, while our model-based Fair Value estimate is C$0.0850, 85.8% 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: C$0.0595 (bear) to C$0.1275 (bull), the price of C$0.6000 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 29/100 (below-average quality), in the Basic Materials sector.

First Mining Gold Corp reported revenue of C$0 in FY2025 versus C$0 in FY2021. Reported net income was −C$77.9M in FY2025.

Key figures

Market cap C$1.2B (≈ $840M) Small · EPS (TTM) C$−0.0600 · Return on equity −32.7% · Return on assets (EBIT) −0.9% · Free cash flow −C$27.4M · Net cash C$43.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 38% below its 52-week high and 97% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at −86%, FF screens richer than that median.

Fair Value models

Bear C$0.0595 Fair Value C$0.0850 Bull C$0.1275
Price C$0.6000 · Upside -85.8%
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
NCAV (Graham) C$0.0700 C$0.1000 C$0.1500 51
All 1 models by family
Asset-Based
NCAV (Graham) C$0.0700 C$0.1000 C$0.1500 51

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 29/100

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

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 84
Debt, balance sheet and risk of trouble
Investment 77
Does it invest with discipline instead of growing at any price?
Low Volatility 24
How calm the share price moves, does not count
Momentum 72
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 72
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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

FF screens overvalued: fair value 86% below the price. Compare with Newmont Corporation →

Compare First Mining Gold Corp with another stock

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.Gold · 210 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −85.8% · Bottom 25%
Profitability
Return on assets −22.3% · Bottom 25%
Operating margin (12 months) 0.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Below median

Valuation Multiplesvs Gold median · lower = cheaper

P/B 3.86× · Priciest 25%

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
Kinross Gold Corporation KGC $22.34 $51.08 +129% vs FF
Zijin Mining Group 601899 ¥28.79 ¥44.62 +55% vs FF
Agnico Eagle Mines Limited AEM $173.94 $219.71 +26% vs FF
Newmont Corporation NEM $114.11 $125.52 +10% vs FF
Franco-Nevada Corporation FNV $228.75 $251.63 +10% vs FF
Royal Gold, Inc RGLD $227.42 $250.16 +10% vs FF
AngloGold Ashanti plc AU $83.59 $88.60 +6% vs FF
Shandong Gold Mining Co 600547 ¥26.63 ¥23.61 −11% vs FF
Northern Star Resources Limited NST A$25.06 A$19.85 −21% vs FF
Wheaton Precious Metals Corp WPM $120.89 $88.26 −27% vs FF

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First Mining Gold Corp · Fair Value
C$0.0850 −86%Fair Value
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Cite: Fair Value Calculator (2026). "First Mining Gold Corp Fair Value". https://www.fairvalue-calculator.com/stock/FF.TO

Frequently asked questions

Is First Mining Gold Corp (FF) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of C$0.0850 versus a price of C$0.6000, about −86% upside (overvalued).
What is the fair value of FF?
Our model-based fair value for First Mining Gold Corp is C$0.0850 (as of Oct 27, 2026), built from audited fundamentals. The current price: C$0.6000.
What is the quality score of FF?
First Mining Gold Corp has a Quality Score of 29/100. 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 First Mining Gold Corp (FF)?
Our model-based price target is the fair value of C$0.0850 (as of Oct 27, 2026) from 1 valuation models. Cautious scenario C$0.0595, optimistic scenario C$0.1275. It is a calculation from audited fundamentals, not an analyst target.
What is the First Mining Gold Corp stock forecast for 2026?
Our models put fair value at C$0.0850, about −86% upside versus a price of C$0.6000 (overvalued). Cautious scenario C$0.0595, optimistic scenario C$0.1275. The calculation is refreshed regularly with new filings.
What is the intrinsic value of First Mining Gold Corp (FF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For First Mining Gold Corp it is C$0.0850 per share (as of Oct 27, 2026), against a price of C$0.6000. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is First Mining Gold Corp stock overvalued or undervalued in 2026?
As of Oct 27, 2026, FF trades above its calculated fair value: price C$0.6000, fair value C$0.0850, a gap of about −86% (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 FF?
No. The price is what the market pays today (C$0.6000); the fair value is what the company's own numbers justify (C$0.0850). For First Mining Gold Corp the two are C$0.5150 per share apart. That gap is exactly why we show both numbers side by side.
How much is First Mining Gold Corp worth?
The market values First Mining Gold Corp at about C$1.2B (market capitalisation, as of Oct 27, 2026). Per share that is C$0.6000; our models calculate a fair value of C$0.0850 per share.
What do the bullish and bearish scenarios say about FF?
Our models span a range for First Mining Gold Corp: cautious scenario C$0.0595, base C$0.0850, optimistic C$0.1275 per share (as of Oct 27, 2026, price C$0.6000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of First Mining Gold Corp (FF)?
Balance-sheet figures for First Mining Gold Corp (as of Oct 27, 2026): return on equity −32.7%. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is FF from its 52-week high?
First Mining Gold Corp trades at C$0.6000, about 38% below its 52-week high of C$0.9700 and 97% above the low of C$0.3050 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.0850 is for.
Which stocks are comparable to First Mining Gold Corp?
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 First Mining Gold Corp stock attractive at the current price?
The data as of Oct 27, 2026: price C$0.6000, calculated fair value C$0.0850 (−86%), Quality Score 29/100, 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 FF calculated?
We run First Mining Gold Corp through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$0.0850, 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 12.7 % above its aggregate fair value. First Mining Gold Corp 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 First Mining Gold Corp (FF)?
The closing price on Oct 23, 2026 was C$0.6000. Our model-based fair value is C$0.0850, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with First Mining Gold Corp right now?
The price sits above even our optimistic bull case (C$0.1275). The favourable scenario is already priced in. Weak quality (29/100) 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. A fairly wide model range (C$0.0595 to C$0.1275) leaves room in how you read the outcome.

Key figures of First Mining Gold Corp

How large is the market capitalisation of First Mining Gold Corp (FF)?
The market capitalisation of First Mining Gold Corp is C$1.2B (≈ $840M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of First Mining Gold Corp (FF)?
Earnings per share at First Mining Gold Corp are C$−0.0600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of First Mining Gold Corp (FF)?
The return on equity (ROE) of First Mining Gold Corp is −32.7% (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 First Mining Gold Corp (FF)?
On an EBIT basis the return on assets of First Mining Gold Corp is −0.9% (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.
How much free cash flow does First Mining Gold Corp (FF) generate?
The free cash flow of First Mining Gold Corp is −C$27.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does First Mining Gold Corp (FF) hold?
First Mining Gold Corp holds more cash than debt, C$43.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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