Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide.

Artemis Gold overview

Artemis Gold (TSXV:ARTG) has drawn investor attention after recent share price swings, with the stock up over the past 3 months but showing a decline over the past month, prompting closer scrutiny of its fundamentals.

See our latest analysis for Artemis Gold.

At the current share price of CA$40.92, Artemis Gold has a 90 day share price return of 14.08% and a year to date share price return of 16.28%. The 1 year total shareholder return of 152.44% and 3 year total shareholder return of almost 9x highlight how strong the longer term move has been compared with the recent 9.71% 1 month share price pullback, which suggests momentum has cooled after a very large multi year run.

If this run in a Canadian gold developer has caught your eye, you might also want to see how other miners stack up using our screener of 26 elite gold producer stocks as potential ideas to research next.

With Artemis Gold trading at CA$40.92 and data pointing to an estimated intrinsic value and analyst target that are both higher, the key question is whether the current price still leaves upside or if the market is already pricing in those expectations.

Most Popular Narrative: 14.7% Undervalued

Against the last close of CA$40.92, the most followed narrative points to a fair value near CA$47.95, which is built on ambitious growth and margin assumptions for Artemis Gold's Blackwater project.

The proposed Phase 2 expansion, with front end engineering and design nearing completion and an investment decision expected before the end of 2025, is aimed at materially increasing throughput using already ordered mills, which is intended to support higher long term production and earnings from a single established site.

Read the complete narrative.

Curious what kind of revenue ramp and margin profile could justify that fair value? The narrative focuses on compounding volume growth, rising profitability and a much lower future earnings multiple than today.

Result: Fair Value of CA$47.95 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, you also have to weigh the risk that higher operating costs or mill downtime could limit throughput and weaken the analysts' optimistic earnings assumptions.

Find out about the key risks to this Artemis Gold narrative.

Another View: Multiples Paint A Richer Picture

While the narrative and analyst targets suggest Artemis Gold looks attractive, the current P/E of 27.2x is higher than the Canadian Metals and Mining industry at 22.7x and sits just under the fair ratio estimate of 29.7x. That points to limited margin for error if things do not go to plan.

Story Continues

See what the numbers say about this price — find out in our valuation breakdown.TSXV:ARTG P/E Ratio as at Feb 2026

Next Steps

With mixed signals across valuation and expectations, it is worth checking the underlying data yourself and forming a view sooner rather than later, especially given the mix of risks and potential upsides our work highlights through 4 key rewards and 2 important warning signs.

Looking for more investment ideas?

If Artemis Gold has you thinking about what else might be worth a closer look, do not stop here. Broaden your watchlist with a few targeted screens instead.

Target value opportunities that combine earnings strength with attractive pricing by reviewing our list of 7 high quality undervalued stocks that could be worth deeper research. Prioritise resilience by checking companies that score well on financial stability through our solid balance sheet and fundamentals stocks screener (9 results) so you are not relying on hope alone. Hunt for under the radar potential by scanning our screener containing 6 high quality undiscovered gems, and avoid kicking yourself later for missing businesses that were already on the radar.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ARTG.V.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

View Comments