Liberty Gold reported a C$0.03 loss per share for the third quarter, but no estimate was provided for comparison. Its Black Pine project remains the main focus for investors.
Liberty Gold Corp. (TSX: LGD) reported results for the three and nine months ended September 30, 2026. The earnings calendar lists a loss of C$0.03 per share, with no estimate for the quarter, so there’s no basis for calling the result a beat or miss. The company’s update focused on progress at its Black Pine gold project in Idaho, including a feasibility study, permitting work and early steps toward construction. Canadian investors can find company and share information on the LGD stock page.
Recent earnings trend
Liberty Gold Corp
LGD.TO
LGD.TO
Liberty Gold Corp
WealthAwesomeMarket cap
$1.15B
P/E
52.3x
52W high
$2.30
52W low
$0.73
1W change
+8.29%
Beta
2.21
Analyst Price Targets
Based on analyst covering LGD · as of Sep 30, 2026
Wall Street analysts forecast LGD stock price to rise 94.3% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$4.06
+94.3% Upside
Previously C$3.96 on Sep 23, 2026
Current Price
C$2.09
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on LGD's historical volatility
30-Day Vol
63.2%
Annualized
90-Day Vol
65.1%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$2.50
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$2.22 | C$1.78 – C$2.76 |
| 60 trading days | C$2.35 | C$1.73 – C$3.20 |
| 90 trading days | C$2.50 | C$1.71 – C$3.64 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-05 | -0.0300 | — | — |
| 2026-06-30 | 2026-08-11 | -0.0200 | — | — |
| 2026-03-31 | 2026-05-11 | -0.0100 | — | — |
| 2025-12-31 | 2026-03-25 | -0.0276 | — | — |
| 2025-09-30 | 2025-11-10 | -0.0200 | -0.0100 | -100.0% |
| 2025-06-30 | 2025-08-12 | -0.0100 | -0.0100 | +0.0% |
Investor takeaway: This quarter is more about project development than earnings. The available calendar data shows a C$0.03 loss per share and no estimate. Progress at Black Pine may be important to the investment case, but the project is still in development. The results provided don’t show that it’s generating revenue or cash flow. Analyst targets and model forecasts are estimates, not guarantees.
C$0.03 loss per share
The earnings calendar lists EPS of -C$0.03 for the period ended September 30, 2026, and provides no estimate. The trend data lists year-ago EPS of -C$0.04. That comparison alone doesn’t show whether the project’s underlying economics have changed.
Bull case
Liberty Gold’s feasibility study describes Black Pine as a large, long-life, open-pit heap-leach project. At an assumed gold price of US$3,250 per ounce, the study estimates an after-tax NPV of US$2.4 billion and an IRR of 60%. It outlines a probable mineral reserve of 4.04 million ounces, average annual payable production of 202,000 ounces in Years 1–5, and initial capital of US$411.4 million.
The company also says detailed engineering is underway, fabrication capacity has been secured for key long-lead equipment, and metallurgical test results support the study’s assumptions. These figures are projections, and the reported work is development progress—not operating results.
Bear case
Black Pine still faces the financing, permitting, construction and execution risks that come with developing a mine. The feasibility study depends on assumptions, including the gold price, and its projected returns aren’t guaranteed. Liberty Gold reported a quarterly EPS loss, and no estimate was provided, so there’s no basis for calling the result a beat or miss.
The company’s reported profit margin is 0.00%. Its share price has also moved widely within the supplied 52-week range of C$0.73 to C$2.30. Investors should weigh the project’s potential against the uncertainty and share-price volatility.
Analysis
Liberty Gold reported results for the three and nine months ended September 30, 2026. The earnings calendar lists EPS of -C$0.03 and no estimate, so the available data doesn’t support a beat-or-miss conclusion. Trend data lists year-ago EPS of -C$0.04. It also shows a current-period consensus of -C$0.01 from one analyst, but that figure isn’t a provided estimate for the reported quarter.
The company’s release focuses on project and corporate developments rather than providing a breakdown of revenue or margins. For the latest company and share information, visit the LGD stock page.
Analysis
Liberty Gold’s Q3 update focuses on Black Pine in Idaho. The feasibility study, announced in September, estimates an after-tax NPV of US$2.4 billion and an IRR of 60%, based on a gold price of US$3,250 per ounce. It describes a probable reserve of 4.04 million ounces and average annual payable production of 202,000 ounces in Years 1–5. Initial capital is estimated at US$411.4 million.
The proposed operation would use open-pit, run-of-mine heap leaching without crushing, screening or agglomeration. These are study projections, not current production or guaranteed results.
The company says it has started detailed engineering and secured fabrication capacity for key electrical infrastructure and gold recovery equipment. Drill results extended oxide mineralization at Rangefront, and metallurgical testing reportedly supports the recovery and heap-leach design assumptions. Liberty Gold also submitted a preliminary design report to start Idaho’s cyanidation permitting process. These steps move the project forward, but permitting and development work remain.
Analysis
The supplied analyst-target data shows an average target of C$4.06, compared with a last close of C$2.09. That’s 94.3% above the closing price. The listing calls the consensus bullish based on this comparison, but a formal rating isn’t available for Canadian listings. Analyst targets are estimates, not promises. See the analyst ratings section for details.
Wealth Awesome’s statistical 90-day price model gives a mean forecast of C$2.50. Its 68% range is C$1.71 to C$3.64, and its 95% range is C$1.17 to C$5.32. This is a statistical model, not financial advice or a price target. The wide ranges reflect uncertainty. See the price prediction section for details.
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