Stock

Vista Gold

VGZ

Gold · Basic Materials

Also trades as: VGZ.TO CAD 3.69 (+0.00%) · 0VNO.L GBP 0.03 (+0.38%)

Price

$2.64

+0.01 (+0.38%)

after-hours:$2.57-2.65%

Market Cap

$385.4M

Exchange

New York Stock Exchange American

Winston Score

–

No score yet — nothing to grade.

This is a pre-revenue company — it has no sales yet, just exploration or development costs. There’s no operating business to grade on profitability, margins or cash flow, so the Winston Score stays blank until it starts booking revenue.

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Share count rising — dilution

+13.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 110.3M (2021) → 125.2M (2025)

§Winston Score History

The full picture

Vista Gold Corp. is a mining company focused on finding and developing gold deposits. It does not yet produce gold commercially. Its main asset is the Mt. Todd gold project in the Northern Territory of Australia, which is one of the largest undeveloped gold projects in that country. The company's customers would eventually be gold refiners and bullion dealers, but it has not reached that stage yet.

Vista Gold makes money primarily by selling assets, securing joint venture deals, and raising capital from investors rather than from selling gold. It operates mainly in Australia and is headquartered in the United States, with a small market cap reflecting its early-stage status. The company has no revenue from mining operations, which explains its zero gross margin and negative returns. The key risk is that developing Mt. Todd requires significant funding that Vista Gold does not currently have, meaning it depends heavily on finding a partner or buyer for the project to move forward.

Growth Profile

For growth stock investors

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

Revenue Growth

Revenue data limited

Reported EPS Growth

-5.7% YoY

Quarterly reporting periods ended:

30 Jun 2025: $-0.0192

30 Jun 2026: $-0.0203

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$0/ year

Research and development spending

Insider Activity

5.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 years

$50M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$50M cash & investments at current burn rate

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

N/A

—

Data not available

Profit after running costs

Operating Margin

N/A

—

Data not available

Return on the money invested

ROCE

-21.1%

Weak — -21.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

—

Data not available

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

—

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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