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Artemis Gold

ARGTF
87
Other Precious Metals · Basic Materials
Exchange
Other OTC
Winston Score
87
Winston is happy
An exceptional business — strong profitability, growth, and balance sheet.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Exceptional
Growth
Exceptional
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Strong

Winston Score History

The full picture

Artemis Gold is a Canadian mining company that finds, builds, and operates gold mines. Its main project is the Blackwater Gold Mine in British Columbia, Canada, which is one of the largest new gold mines built in Canada in recent years. The company sells gold, a precious metal used in jewelry, electronics, and as a financial safe-haven asset by investors and central banks worldwide.

Artemis Gold makes money by mining and selling gold at market prices, so its revenue rises and falls with the global gold price. The company operates entirely in British Columbia, making it a single-asset, single-country business at this stage of its development. Its strong gross margin reflects the relatively low cost of producing gold at Blackwater compared to the current gold price, which is its key competitive advantage. The main risk is that a significant drop in gold prices, cost overruns, or operational problems at Blackwater could sharply reduce profitability since the company has no other mines to offset that exposure.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+87.7% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+93.2% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

35.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

C$218M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Artemis Gold is growing revenue at 88% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
74.7%
Premium pricing power — 74.7% gross margin
Profit after running costs
Operating Margin
73.9%
Excellent — 73.9% operating margin
Return on the money invested
ROCE
55.0%
Exceptional — 55.0% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+411.5%
Fast-growing sales (+411.5% YoY)
Profit growth
EPS YoY
+551.8%
Earnings growing fast (+551.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
119%
Turns 119% of profit into real cash
Spare cash per sale
FCF Margin
19.3%
Converts sales into free cash efficiently (19.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.35
Conservative — low debt load (0.35)
Covers its interest
Interest Cover
17.71x
Comfortably covers interest (17.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
17.9x
no trend
Fair value — P/E 17.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+9.4
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (17.9 → 8.4)

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Dividends

Not applicable for this business.
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