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Argo Gold

CNSX:ARQ
Snowflake Description

Adequate balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ARQ
CNSX
CA$5M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Argo Gold Inc., an exploration stage company, focuses on the exploration and development of mineral properties in central and northwestern Ontario. The last earnings update was 23 days ago. More info.


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  • Argo Gold has significant price volatility in the past 3 months.
ARQ Share Price and Events
7 Day Returns
4%
CNSX:ARQ
-0.4%
CA Metals and Mining
1.2%
CA Market
1 Year Returns
13%
CNSX:ARQ
18.6%
CA Metals and Mining
-0.4%
CA Market
ARQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Argo Gold (ARQ) 4% 30% 36.8% 13% 85.7% -
CA Metals and Mining -0.4% -0.5% 6.3% 18.6% -15.9% -3.2%
CA Market 1.2% 3.3% 0.8% -0.4% 7.4% 4.5%
1 Year Return vs Industry and Market
  • ARQ underperformed the Metals and Mining industry which returned 18.6% over the past year.
  • ARQ outperformed the Market in Canada which returned -0.4% over the past year.
Price Volatility
ARQ
Industry
5yr Volatility vs Market

ARQ Value

 Is Argo Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Argo Gold. This is due to cash flow or dividend data being unavailable. The share price is CA$0.13.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Argo Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Argo Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CNSX:ARQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CAD CA$-0.01
CNSX:ARQ Share Price ** CNSX (2019-09-19) in CAD CA$0.13
Canada Metals and Mining Industry PE Ratio Median Figure of 100 Publicly-Listed Metals and Mining Companies 13.9x
Canada Market PE Ratio Median Figure of 540 Publicly-Listed Companies 14.11x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Argo Gold.

CNSX:ARQ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CNSX:ARQ Share Price ÷ EPS (both in CAD)

= 0.13 ÷ -0.01

-12.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Argo Gold is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Argo Gold is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Argo Gold's expected growth come at a high price?
Raw Data
CNSX:ARQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -12.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 32 Publicly-Listed Metals and Mining Companies 0.98x
Canada Market PEG Ratio Median Figure of 246 Publicly-Listed Companies 0.95x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Argo Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Argo Gold's assets?
Raw Data
CNSX:ARQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CAD CA$0.06
CNSX:ARQ Share Price * CNSX (2019-09-19) in CAD CA$0.13
Canada Metals and Mining Industry PB Ratio Median Figure of 1,097 Publicly-Listed Metals and Mining Companies 1.44x
Canada Market PB Ratio Median Figure of 2,454 Publicly-Listed Companies 1.44x
CNSX:ARQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CNSX:ARQ Share Price ÷ Book Value per Share (both in CAD)

= 0.13 ÷ 0.06

2.18x

* Primary Listing of Argo Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Argo Gold is overvalued based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Argo Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Argo Gold has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ARQ Future Performance

 How is Argo Gold expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Argo Gold has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.6%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Argo Gold expected to grow at an attractive rate?
  • Unable to compare Argo Gold's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Argo Gold's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Argo Gold's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CNSX:ARQ Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 34.6%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
CNSX:ARQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
CNSX:ARQ Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-06-30 0 0
2019-03-31 0 0
2018-12-31 0 0
2018-09-30 0 0
2018-06-30 0 0
2018-03-31 0 -1
2017-12-31 0 -1
2017-09-30 -1 -1
2017-06-30 -1 -1
2017-03-31 0 0
2016-12-31 0 0
2016-09-30 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Argo Gold is high growth as no earnings estimate data is available.
  • Unable to determine if Argo Gold is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
CNSX:ARQ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Argo Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:ARQ Past Financials Data
Date (Data in CAD Millions) EPS *
2019-06-30 -0.01
2019-03-31 0.00
2018-12-31 -0.01
2018-09-30 0.00
2018-06-30 -0.01
2018-03-31 -0.02
2017-12-31 -0.03
2017-09-30 -0.03
2017-06-30 -0.04
2017-03-31 -0.03
2016-12-31 -0.02
2016-09-30 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Argo Gold will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Argo Gold's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Argo Gold's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Argo Gold's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Argo Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Argo Gold has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ARQ Past Performance

  How has Argo Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Argo Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Argo Gold does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Argo Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Argo Gold's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Argo Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Argo Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CNSX:ARQ Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 -0.33 0.38
2019-03-31 0.01 0.47
2018-12-31 -0.35 0.62
2018-09-30 -0.08 0.50
2018-06-30 -0.15 0.60
2018-03-31 -0.70 0.74
2017-12-31 -0.68 0.67
2017-09-30 -0.67 0.68
2017-06-30 -0.71 0.66
2017-03-31 -0.48 0.41
2016-12-31 -0.31 0.26
2016-09-30 -0.26 0.21
2016-06-30 -0.17 0.13
2016-03-31 -0.15 0.10
2015-12-31 -0.10 0.12
2015-09-30 -0.06 0.11
2015-06-30 -0.06 0.11
2015-03-31 -0.03 0.10
2014-12-31 -0.09 0.08
2014-09-30 -0.13 0.11
2014-06-30 0.12 0.12
2014-03-31 0.08 0.15
2013-12-31 0.06 0.17
2013-09-30 0.08 0.16
2013-06-30 -0.25 0.22
2013-03-31 -0.16 0.22
2012-12-31 -0.21 0.25
2012-09-30 -0.46 0.43

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Argo Gold has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Argo Gold has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Argo Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Argo Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Argo Gold has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ARQ Health

 How is Argo Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Argo Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Argo Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Argo Gold has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Argo Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Argo Gold has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Argo Gold Company Filings, last reported 2 months ago.

CNSX:ARQ Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2.21 0.00 0.45
2019-03-31 2.27 0.00 0.54
2018-12-31 2.07 0.00 0.39
2018-09-30 1.53 0.00 0.35
2018-06-30 1.58 0.00 0.43
2018-03-31 1.24 0.00 0.02
2017-12-31 1.29 0.00 0.05
2017-09-30 1.27 0.00 0.15
2017-06-30 1.29 0.00 0.59
2017-03-31 0.69 0.00 0.12
2016-12-31 0.45 0.05 0.25
2016-09-30 0.19 0.05 0.04
2016-06-30 0.25 0.05 0.07
2016-03-31 0.17 0.04 0.00
2015-12-31 0.18 0.04 0.01
2015-09-30 0.26 0.05 0.04
2015-06-30 0.28 0.05 0.05
2015-03-31 0.23 0.05 0.00
2014-12-31 0.18 0.00 0.01
2014-09-30 0.23 0.00 0.02
2014-06-30 0.25 0.00 0.03
2014-03-31 0.26 0.00 0.05
2013-12-31 0.28 0.00 0.05
2013-09-30 0.41 0.00 0.08
2013-06-30 -0.92 0.19 0.17
2013-03-31 -0.86 0.19 0.21
2012-12-31 -0.83 0.19 0.25
2012-09-30 -0.77 0.19 0.28
  • Argo Gold has no debt.
  • Argo Gold currently has no debt however we can't compare to 5 years ago as we have no data for that period.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Argo Gold has less than a year of cash runway based on current free cash flow.
  • Argo Gold has less than a year of cash runway if free cash flow continues to grow at historical rates of 41.3% each year.
X
Financial health checks
We assess Argo Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Argo Gold has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ARQ Dividends

 What is Argo Gold's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Argo Gold dividends.
If you bought CA$2,000 of Argo Gold shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Argo Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Argo Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
CNSX:ARQ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Argo Gold has not reported any payouts.
  • Unable to verify if Argo Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Argo Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Argo Gold has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Argo Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Argo Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Argo Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ARQ Management

 What is the CEO of Argo Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Judy Baker
COMPENSATION CA$75,000
AGE 53
TENURE AS CEO 0.2 years
CEO Bio

Mrs. Judith E. Baker, also known as Judy, BSC, MBA serves as Director at Blue Star Gold Corp. (formerly WPC Resources Inc.) since December 17, 2018. She has been Chief Executive Officer and Director of Argo Gold Inc. since July 4, 2019. She served as the President and Chief Executive Officer of Argo Gold Inc. from May 2015 until January 3, 2019. She served as the Chief Executive Officer and President of Superior Copper Corporation from June 11, 2010 to June 5, 2013. She served as the Chief Executive Officer and President of God’s Lake Resources Inc. from March 8, 2010 to November 19, 2010. She served as the Chief Executive Officer and President of American Lithium Minerals Inc. from October 8, 2009 to November 2009. She was responsible for acquiring the large Borate Hills boron lithium project in Nevada and having Japan Oil (JOGMEC) invest $4 million to advance the project through the prefeasibility stage. She served as the President of RB Energy, Inc. from November 20, 2007 to June 17, 2009. She was the founder of Superior Copper and Canada Lithium. She served as the President and Chief Executive Officer of Canada Lithium Corp. from September 27, 2007 to June 17, 2009. She was instrumental in restructuring debt and strategically positioning in lithium business; including acquiring the Quebec Lithium project and initiating lithium exploration in the Great Basin of the United States. She served as Vice President of Business Development & Investor Relations of Nevsun Resources Ltd from May 2005 to September 15, 2010. She was a consultant for American Lithium Minerals and was responsible for acquiring the large Borate Hills boron lithium project in Nevada and having Japan Oil (JOGMEC) invest $4 M to advance the 350 M ton project through the pre-feasibility stage. She has experience in capital markets including equity analysis, restructuring, fund management and mineral exploration and mining company activity. She serves on the Board of Directors of Nemaska Lithium and Arbitrage Exploration Inc. She served as a Consultant for Geoinformatics Exploration Inc. since 2007. She served as a Consultant for NORCANEX Exploration from 2007 to 2008. She served as the President of Southeast Asia Mining Corp. from February 5, 2008 to May 25, 2008 and served as its Consultant. She served as a Research Analyst at Toll Cross Securities from 2004 to 2005. From 2001 to 2004, she served as the North American Business Manager at Quantec Geoscience Ltd. Her prior experience includes Institutional Sales, Toll Cross Securities, Toronto, North American Business Manager, Quantec Geoscience. She served as Resource Analyst at US Global Investors, San Antonio, Texas from 2000 to 2001. She served as an Analyst at PricewaterhouseCooper LLP from 1999 to 2000. She served as an Analyst at LOM Securities from 1997 to 1998. She served as Research Associate at BMO Nesbitt Burns from 1996 to 1997. She served as an Analyst at Scotia McLeod from 1995 to 1996. She served as an Independent Director of Honey Badger Exploration Inc. since April 21, 2016 until May 15, 2017. She was a Director of Argo Gold Inc. since June 14, 2013 until January 3, 2019. She has been a Director at Green Swan Capital Corp. since May 30, 2016. She has been an Independent Director at Nemaska Lithium Inc. since October 23, 2009. She served as a Director of CBLT Inc. until May 28, 2018. She served as a Director of Superior Copper Corporation since June 24, 2011. She served as an Independent Director of Abcourt Mines Inc. from December 2009 to December 13, 2011. She served as a Director of Star Gold Corp. from August 2014 to September 13, 2016. She served as a Director of RB Energy, Inc. since September 27, 2007, God’s Lake Resources Inc. from March 8, 2010 to November 19, 2010. She served as a Director of American Lithium Minerals Inc. She served as a Director of Takara Resources Inc. since September 24, 2007, Absolut Resources Corp. since June 26, 2006 and Canada Lithium Corp. since September 27, 2007. She holds an Honors B Sc. in Geological Engineering and Mineral Resources Exploration from Queen’s University in 1990. She holds MBA the Ivey Business School in 1995.

CEO Compensation
  • Judy's compensation has increased whilst company is loss making.
  • Judy's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Argo Gold management team in years:

0.2
Average Tenure
  • The average tenure for the Argo Gold management team is less than 2 years, this suggests a new team.
Management Team

Judy Baker

TITLE
CEO & Director
COMPENSATION
CA$75K
AGE
53
TENURE
0.2 yrs

George Mah

TITLE
President & Director
TENURE
0.2 yrs

Ken Storey

TITLE
Chief Financial Officer
TENURE
1.3 yrs

Laszlo Heredy

TITLE
Chief Scientist
Board of Directors Tenure

Average tenure and age of the Argo Gold board of directors in years:

1.8
Average Tenure
67
Average Age
  • The average tenure for the Argo Gold board of directors is less than 3 years, this suggests a new board.
Board of Directors

Judy Baker

TITLE
CEO & Director
COMPENSATION
CA$75K
AGE
53
TENURE
0.2 yrs

George Mah

TITLE
President & Director
TENURE
0.2 yrs

Thomas Bourne

TITLE
Member of Advisory Board
TENURE
14.1 yrs

George Langdon

TITLE
Director
AGE
61
TENURE
6.3 yrs

Charles Hodgson

TITLE
Member of Advisory Board
AGE
83
TENURE
2.7 yrs

Rahim Kassim-Lakha

TITLE
Member of Advisory Board
TENURE
0.9 yrs

Phil Walford

TITLE
Member of Advisory Board
AGE
73
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Argo Gold individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
13. Aug 19 Buy Judith Baker Individual 08. Aug 19 09. Aug 19 20,000 CA$0.12 CA$2,398
19. Jul 19 Buy George Mah Individual 15. Jul 19 15. Jul 19 50,000 CA$0.10 CA$5,000
15. Jul 19 Buy Kenney Storey Individual 11. Jul 19 11. Jul 19 13,000 CA$0.13 CA$1,625
11. Jul 19 Buy Judith Baker Individual 05. Jul 19 05. Jul 19 25,000 CA$0.10 CA$2,500
20. Jun 19 Buy Kenney Storey Individual 20. Jun 19 20. Jun 19 20,000 CA$0.10 CA$1,900
24. Apr 19 Buy Kenney Storey Individual 22. Apr 19 22. Apr 19 2,000 CA$0.01 CA$27
15. Apr 19 Buy Kenney Storey Individual 12. Apr 19 12. Apr 19 7,500 CA$0.15 CA$1,087
26. Mar 19 Buy Kenney Storey Individual 25. Mar 19 25. Mar 19 32,500 CA$0.20 CA$6,450
14. Mar 19 Buy Kenney Storey Individual 14. Mar 19 14. Mar 19 5,000 CA$0.25 CA$1,250
15. Feb 19 Buy Kenney Storey Individual 12. Feb 19 12. Feb 19 200,000 CA$0.10 CA$20,000
16. Jan 19 Buy Kenney Storey Individual 15. Jan 19 16. Jan 19 20,000 CA$0.14 CA$2,588
14. Nov 18 Buy Kenney Storey Individual 13. Nov 18 14. Nov 18 40,000 CA$0.20 CA$7,777
03. Nov 18 Buy Judith Baker Individual 25. Oct 18 31. Oct 18 31,500 CA$0.18 CA$5,390
09. Oct 18 Buy Judith Baker Individual 05. Oct 18 05. Oct 18 2,000 CA$0.13 CA$260
X
Management checks
We assess Argo Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Argo Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ARQ News

Simply Wall St News

Can We See Significant Insider Ownership On The Argo Gold Inc. (CNSX:ARQ) Share Register?

Argo Gold is a smaller company with a market capitalization of CA$5.3m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … View our latest analysis for Argo Gold CNSX:ARQ Ownership Summary, August 1st 2019 What Does The Institutional Ownership Tell Us About Argo Gold?

Simply Wall St -

Introducing Argo Gold (CNSX:ARQ), The Stock That Dropped 20% In The Last Year

For example, investors may be hoping that Argo Gold finds some valuable resources, before it runs out of money. … However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. … Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

Simply Wall St -

Do You Know Who Else Invests In Argo Gold Inc (CNSX:ARQ)?

Generally speaking, as a company grows, institutions will increase their ownership. … Argo Gold is a smaller company with a market capitalization of CA$4m, so it may still be flying under the radar of many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

ARQ Company Info

Description

Argo Gold Inc., an exploration stage company, focuses on the exploration and development of mineral properties in central and northwestern Ontario. It primarily explores for gold, silver, and zinc deposits. The company’s flagship property is the Woco Gold Project located outside the Red Lake Gold District. It also holds a 100% interest in the Hurdman Silver-Zinc Project comprising 12 contiguous mining claims covering 2,944 hectares located in Hurdman township in Ontario, Canada; the Mc Vicar Lake Gold Project consisting of 144 mining claim units totaling 2304 hectares located approximately 90 kilometers west of Pickle Lake; and 9 claim units covering 1.7 square kilometers near Angela Lake in the Red Lake Mining Division. The company was formerly known as Arbitrage Exploration Inc. and changed its name to Argo Gold Inc. in September 2016. Argo Gold Inc. was incorporated in 1995 and is based in Toronto, Canada.

Details
Name: Argo Gold Inc.
ARQ
Exchange: CNSX
Founded: 1995
CA$4,940,942
38,007,249
Website: http://www.argogold.ca
Address: Argo Gold Inc.
350 Bay Street,
Suite 700,
Toronto,
Ontario, M5H 2S6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CNSX ARQ Common Shares Canadian National Stock Exchange CA CAD 10. Oct 2000
OTCPK ARBT.F Common Shares Pink Sheets LLC US USD 10. Oct 2000
DB P3U Common Shares Deutsche Boerse AG DE EUR 10. Oct 2000
Number of employees
Current staff
Staff numbers
0
Argo Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/20 01:12
End of day share price update: 2019/09/19 00:00
Last earnings filing: 2019/08/28
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.