Artemis Gold Inc.

TSXV:ARTG Stock Report

Market Cap: CA$10.0b

Artemis Gold Future Growth

Future criteria checks 6/6

Artemis Gold is forecast to grow earnings and revenue by 36.8% and 21.2% per annum respectively. EPS is expected to grow by 27.7% per annum. Return on equity is forecast to be 42.2% in 3 years.

Key information

36.8%

Earnings growth rate

27.72%

EPS growth rate

Metals and Mining earnings growth14.2%
Revenue growth rate21.2%
Future return on equity42.21%
Analyst coverage

Low

Last updated10 Aug 2026

Recent future growth updates

Recent updates

Narrative Update • Aug 21

ARTG: Future Output Expansion Will Likely Not Justify Current Share Price

Analysts have trimmed their average price target on Artemis Gold to about CA$38.53 from roughly CA$40.32, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E levels. What’s in the News for Artemis Gold Artemis Gold began major construction on its EP2 expansion at the Blackwater Mine ahead of schedule and within budget, with the first concrete pour for the ball mill foundations completed and long lead equipment ordered.
Analysis Article • Aug 10

New Forecasts: Here's What Analysts Think The Future Holds For Artemis Gold Inc. (CVE:ARTG)

Celebrations may be in order for Artemis Gold Inc. ( CVE:ARTG ) shareholders, with the analysts delivering a...
Narrative Update • Aug 07

ARTG: Blackwater Expansion Progress And New Dividend Policy Will Drive Future Upside

Analysts cut their CA$ fair value estimate for Artemis Gold by about CA$5 to reflect a reduced revenue growth outlook, a higher discount rate and lower future P/E assumptions, consistent with the more cautious tone seen in recent Street research, including the downgrade from TD Securities in May 2026. What’s in the News for Artemis Gold Artemis Gold began major construction on its EP2 growth project at the Blackwater Mine ahead of schedule and within budget, including the first concrete pour for the ball mill foundations.
Narrative Update • Jul 24

ARTG: Record Production And Expansion Progress Will Support Stronger Long Term View

Analysts have reduced their average price target for Artemis Gold to about CA$65 from roughly CA$67, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples, alongside recent research that has turned more cautious on the stock. What’s in the News for Artemis Gold Artemis Gold reported record Q2 2026 production of 74,063 ounces of gold at the Blackwater Mine in British Columbia, supported by higher feed grades and improved gold recoveries.
Narrative Update • Jul 10

ARTG: Higher Margin Outlook Will Support More Constructive Long Term View

Artemis Gold's analyst price target has increased to CA$67.32 from CA$65.30, with analysts citing updated expectations for revenue growth, profit margins and future P/E assumptions, despite a recent downgrade from TD Securities. What’s in the News for Artemis Gold Artemis Gold announced that Erik Marchand, currently Vice President Finance, will be appointed Chief Financial Officer effective July 1, 2026.
Narrative Update • Jun 26

ARTG: Higher Fair Value And CFO Transition Will Support Future Upside

Analysts have lifted their fair value estimate for Artemis Gold to about CA$57 per share, up from roughly CA$48, while at the same time adopting more cautious assumptions around growth, margins and future P/E. This helps explain the recent downward shift in Street ratings despite the higher target.
New Narrative • May 26

Expansion Projects And Rising Stockpiles Will Support Stronger Long Term Gold Production

Catalysts About Artemis Gold Artemis Gold is a Canadian gold producer focused on the Blackwater open pit mine and associated processing facilities in British Columbia. What are the underlying business or industry changes driving this perspective?
New Narrative • May 12

Heavy Capital Burden And Cost Pressures Will Test Long Mine Life Upside Potential

Catalysts About Artemis Gold Artemis Gold is a gold producer focused on the Blackwater open pit mine and related expansion projects in British Columbia, Canada. What are the underlying business or industry changes driving this perspective?
Analysis Article • Dec 08

Calculating The Intrinsic Value Of Artemis Gold Inc. (CVE:ARTG)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Artemis Gold fair value estimate is CA$39.49 Current share...

Earnings and Revenue Growth Forecasts

TSXV:ARTG - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,3561,4157891,3442
12/31/20272,0081,0222631,2703
12/31/20261,592709649942
6/30/20261,391558299697N/A
3/31/20261,188459268675N/A
12/31/2025914349159561N/A
9/30/2025580207-58361N/A
6/30/202527286-272196N/A
3/31/202541-20-43410N/A
12/31/2024N/A-31-493-9N/A
9/30/2024N/A-27-492-9N/A
6/30/2024N/A-19-483-10N/A
3/31/2024N/A-16-465-10N/A
12/31/2023N/A-11-405-9N/A
9/30/2023N/A-9-337-9N/A
6/30/2023N/A-20-258-9N/A
3/31/2023N/A-19-169-9N/A
12/31/2022N/A-22-103-6N/A
9/30/2022N/A-24-69-7N/A
6/30/2022N/A-14-97-6N/A
3/31/2022N/A-14-89-6N/A
12/31/2021N/A-14-89-6N/A
9/30/2021N/A-10-82-4N/A
6/30/2021N/A-10-165-5N/A
3/31/2021N/A-3-158-5N/A
12/31/2020N/A-4-149-4N/A
9/30/2020N/A-4-145-4N/A
6/30/2020N/A-1-2-2N/A
3/31/2020N/A-1N/A-1N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ARTG's forecast earnings growth (36.8% per year) is above the savings rate (3.1%).

Earnings vs Market: ARTG's earnings (36.8% per year) are forecast to grow faster than the Canadian market (10.8% per year).

High Growth Earnings: ARTG's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ARTG's revenue (21.2% per year) is forecast to grow faster than the Canadian market (4.2% per year).

High Growth Revenue: ARTG's revenue (21.2% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ARTG's Return on Equity is forecast to be very high in 3 years time (42.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/23 02:43
End of Day Share Price 2026/08/21 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Artemis Gold Inc. is covered by 24 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard GrayATB Cormark
Richard GrayATB Cormark Historical (Cormark Securities)
Andrew MikitchookBMO Capital Markets Equity Research