Mayfair Gold (MINE)
Market Price (7/3/2026): $2.67 | Market Cap: $178.9 MilSector: Materials | Industry: Gold
Mayfair Gold (MINE)
Market Price (7/3/2026): $2.67Market Cap: $178.9 MilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% Megatrend and thematic driversMegatrends include Strategic Materials & Resource Development. Themes include Gold Exploration & Development, Precious Metals Mining, and Sustainable Mining Practices. | Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -91% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% |
| Megatrend and thematic driversMegatrends include Strategic Materials & Resource Development. Themes include Gold Exploration & Development, Precious Metals Mining, and Sustainable Mining Practices. |
| Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -91% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/2/2026
Mayfair Gold (MINE) stock has lost about 15% since 3/31/2026 because of the following key factors:
1. Significant Decline in Gold Prices during Fiscal Q2 2026.
Mayfair Gold's stock movement mirrored a broader downturn in the precious metals market, as gold prices experienced their steepest quarterly decline in 13 years, falling by 15% in fiscal Q2 2026, with maximum losses occurring in June 2026. This selloff was primarily driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and increased the likelihood of interest rate hikes by central banks, thereby reducing the attractiveness of non-yielding assets like gold. Additionally, a strengthening U.S. dollar, with the DXY index reaching 101.2 by late June 2026 after bottoming in January 2026, further pressured gold prices.
2. Potential Share Dilution from Equity Incentive Plans.
The re-approval of Mayfair Gold's 10% rolling Omnibus Incentive Plan at its Annual General Meeting on June 25, 2026, coupled with the immediate grant of stock options for 475,000 common shares to officers and employees, introduced concerns regarding potential future share dilution. This follows a period where shareholders experienced dilution, with total shares outstanding growing by 22.9% over the past year. The ongoing possibility of equity issuance under the plan can negatively impact the stock's value per share.
Show more
Mayfair Gold (MINE) stock has lost about 15% since 3/31/2026 because of the following key factors:
1. Significant Decline in Gold Prices during Fiscal Q2 2026.
Mayfair Gold's stock movement mirrored a broader downturn in the precious metals market, as gold prices experienced their steepest quarterly decline in 13 years, falling by 15% in fiscal Q2 2026, with maximum losses occurring in June 2026. This selloff was primarily driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and increased the likelihood of interest rate hikes by central banks, thereby reducing the attractiveness of non-yielding assets like gold. Additionally, a strengthening U.S. dollar, with the DXY index reaching 101.2 by late June 2026 after bottoming in January 2026, further pressured gold prices.
2. Potential Share Dilution from Equity Incentive Plans.
The re-approval of Mayfair Gold's 10% rolling Omnibus Incentive Plan at its Annual General Meeting on June 25, 2026, coupled with the immediate grant of stock options for 475,000 common shares to officers and employees, introduced concerns regarding potential future share dilution. This follows a period where shareholders experienced dilution, with total shares outstanding growing by 22.9% over the past year. The ongoing possibility of equity issuance under the plan can negatively impact the stock's value per share.
Show more
Updated on 7/2/2026
Mayfair Gold (MINE) stock has lost about 15% since 3/31/2026 because of the following key factors:
1. Significant Decline in Gold Prices during Fiscal Q2 2026.
Mayfair Gold's stock movement mirrored a broader downturn in the precious metals market, as gold prices experienced their steepest quarterly decline in 13 years, falling by 15% in fiscal Q2 2026, with maximum losses occurring in June 2026. This selloff was primarily driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and increased the likelihood of interest rate hikes by central banks, thereby reducing the attractiveness of non-yielding assets like gold. Additionally, a strengthening U.S. dollar, with the DXY index reaching 101.2 by late June 2026 after bottoming in January 2026, further pressured gold prices.
2. Potential Share Dilution from Equity Incentive Plans.
The re-approval of Mayfair Gold's 10% rolling Omnibus Incentive Plan at its Annual General Meeting on June 25, 2026, coupled with the immediate grant of stock options for 475,000 common shares to officers and employees, introduced concerns regarding potential future share dilution. This follows a period where shareholders experienced dilution, with total shares outstanding growing by 22.9% over the past year. The ongoing possibility of equity issuance under the plan can negatively impact the stock's value per share.
3. Pre-Revenue Stage and Extended Production Timeline.
As a development-stage company, Mayfair Gold reported its fiscal Q1 2026 operating and financial results on May 13, 2026, which likely highlighted its pre-revenue status, recurring losses, and sustained cash burn. The company's Pre-Feasibility Study from January 2026 outlines an initial development capital of C$450 million and targets construction for 2028 with initial gold production in 2030. This extended timeline to revenue generation can deter investors, particularly in a challenging market environment, as it implies ongoing funding requirements and delayed returns.
Show less
Mayfair Gold (MINE) stock has lost about 15% since 3/31/2026 because of the following key factors:
1. Significant Decline in Gold Prices during Fiscal Q2 2026.
Mayfair Gold's stock movement mirrored a broader downturn in the precious metals market, as gold prices experienced their steepest quarterly decline in 13 years, falling by 15% in fiscal Q2 2026, with maximum losses occurring in June 2026. This selloff was primarily driven by rising inflation concerns following the Middle-East conflict, which pushed energy prices higher and increased the likelihood of interest rate hikes by central banks, thereby reducing the attractiveness of non-yielding assets like gold. Additionally, a strengthening U.S. dollar, with the DXY index reaching 101.2 by late June 2026 after bottoming in January 2026, further pressured gold prices.
2. Potential Share Dilution from Equity Incentive Plans.
The re-approval of Mayfair Gold's 10% rolling Omnibus Incentive Plan at its Annual General Meeting on June 25, 2026, coupled with the immediate grant of stock options for 475,000 common shares to officers and employees, introduced concerns regarding potential future share dilution. This follows a period where shareholders experienced dilution, with total shares outstanding growing by 22.9% over the past year. The ongoing possibility of equity issuance under the plan can negatively impact the stock's value per share.
3. Pre-Revenue Stage and Extended Production Timeline.
As a development-stage company, Mayfair Gold reported its fiscal Q1 2026 operating and financial results on May 13, 2026, which likely highlighted its pre-revenue status, recurring losses, and sustained cash burn. The company's Pre-Feasibility Study from January 2026 outlines an initial development capital of C$450 million and targets construction for 2028 with initial gold production in 2030. This extended timeline to revenue generation can deter investors, particularly in a challenging market environment, as it implies ongoing funding requirements and delayed returns.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -17.0% change in MINE stock from 3/31/2026 to 7/2/2026 was primarily driven by a -0.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.10 | 2.57 | -17.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 67 | 67 | -0.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 7/2/2026| Return | Correlation | |
|---|---|---|
| MINE | -17.0% | |
| Market (SPY) | 14.5% | 24.5% |
| Sector (XLB) | 4.1% | 9.7% |
Fundamental Drivers
The -26.7% change in MINE stock from 12/31/2025 to 7/2/2026 was primarily driven by a -15.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 12312025 | 7022026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.50 | 2.57 | -26.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 57 | 67 | -15.5% |
| Cumulative Contribution | 0.0% |
Market Drivers
12/31/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| MINE | -26.7% | |
| Market (SPY) | 9.5% | 29.5% |
| Sector (XLB) | 15.2% | 28.0% |
Fundamental Drivers
nullnull
Market Drivers
6/30/2025 to 7/2/2026| Return | Correlation | |
|---|---|---|
| MINE | ||
| Market (SPY) | 21.6% | 30.0% |
| Sector (XLB) | 20.2% | 29.2% |
Fundamental Drivers
nullnull
Market Drivers
6/30/2023 to 7/2/2026| Return | Correlation | |
|---|---|---|
| MINE | ||
| Market (SPY) | 74.0% | 30.0% |
| Sector (XLB) | 32.5% | 29.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MINE Return | - | - | - | - | 10% | -38% | -32% |
| Peers Return | -23% | -25% | 18% | 30% | 189% | -16% | 114% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| MINE Win Rate | - | - | - | - | 100% | 29% | |
| Peers Win Rate | 44% | 43% | 45% | 57% | 75% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| MINE Max Drawdown | - | - | - | - | - | -53% | |
| Peers Max Drawdown | -43% | -63% | -35% | -28% | -23% | -44% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IAG, EQX, EGO, OGC, DC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)
How Low Can It Go
MINE has limited trading history. Below is the Materials sector ETF (XLB) in its place.
| Event | XLB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -17.0% | -18.8% |
| % Gain to Breakeven | 20.5% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.5% | -9.5% |
| % Gain to Breakeven | 14.3% | 10.5% |
| Time to Breakeven | 52 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.5% | -24.5% |
| % Gain to Breakeven | 30.7% | 32.4% |
| Time to Breakeven | 456 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.2% | -33.7% |
| % Gain to Breakeven | 56.8% | 50.9% |
| Time to Breakeven | 114 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.3% | -19.2% |
| % Gain to Breakeven | 22.4% | 23.8% |
| Time to Breakeven | 101 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -17.9% | -12.2% |
| % Gain to Breakeven | 21.7% | 13.9% |
| Time to Breakeven | 52 days | 62 days |
In The Past
State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
MINE has limited trading history. Below is the Materials sector ETF (XLB) in its place.
| Event | XLB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -23.5% | -24.5% |
| % Gain to Breakeven | 30.7% | 32.4% |
| Time to Breakeven | 456 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.2% | -33.7% |
| % Gain to Breakeven | 56.8% | 50.9% |
| Time to Breakeven | 114 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.8% | -6.8% |
| % Gain to Breakeven | 31.2% | 7.3% |
| Time to Breakeven | 171 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -28.2% | -17.9% |
| % Gain to Breakeven | 39.3% | 21.8% |
| Time to Breakeven | 459 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -56.6% | -53.4% |
| % Gain to Breakeven | 130.3% | 114.4% |
| Time to Breakeven | 701 days | 1085 days |
In The Past
State Street Materials Select Sector SPDR ETF's stock fell -17.0% during the 2025 US Tariff Shock. Such a loss loss requires a 20.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 13.35 |
| Mkt Cap | 6.3 |
| Rev LTM | 2,114 |
| Op Inc LTM | 882 |
| FCF LTM | -14 |
| FCF 3Y Avg | -14 |
| CFO LTM | 753 |
| CFO 3Y Avg | 627 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 77.4% |
| Rev Chg 3Y Avg | 41.3% |
| Rev Chg Q | 107.2% |
| QoQ Delta Rev Chg LTM | 19.1% |
| Op Inc Chg LTM | 112.9% |
| Op Inc Chg 3Y Avg | 108.0% |
| Op Mgn LTM | 44.2% |
| Op Mgn 3Y Avg | 28.8% |
| QoQ Delta Op Mgn LTM | 4.8% |
| CFO/Rev LTM | 48.1% |
| CFO/Rev 3Y Avg | 42.9% |
| FCF/Rev LTM | 32.4% |
| FCF/Rev 3Y Avg | -5.4% |
Price Behavior
null
MINE Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.43 | 1.20 | 1.46 | 1.53 | 0.68 | 0.22 |
| Up Beta | 3.97 | 3.84 | 2.21 | 1.50 | 1.14 | -0.01 |
| Down Beta | -1.38 | 0.39 | 0.13 | 1.16 | -0.41 | 0.39 |
| Up Capture | 34% | -2% | 55% | 117% | 66% | 6% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 5 | 15 | 25 | 48 | 53 | 53 |
| Down Capture | 255% | 142% | 229% | 183% | 125% | 67% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 15 | 24 | 36 | 67 | 68 | 68 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -33.3% | 70.5% | -0.85 | - |
| Sector ETF (XLB) | 17.2% | 17.5% | 0.75 | 32.1% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 31.1% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | 53.8% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | 16.3% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 12.5% |
| Bitcoin (BTCUSD) | -43.5% | 42.7% | -1.22 | 26.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -7.8% | 70.5% | -0.85 | - |
| Sector ETF (XLB) | 6.9% | 19.0% | 0.25 | 32.1% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 31.1% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 53.8% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 16.3% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 12.5% |
| Bitcoin (BTCUSD) | 11.6% | 53.7% | 0.40 | 26.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MINE | |
|---|---|---|---|---|
| MINE | -4.0% | 70.5% | -0.85 | - |
| Sector ETF (XLB) | 10.3% | 20.7% | 0.44 | 32.1% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 31.1% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | 53.8% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 16.3% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 12.5% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 26.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 7/2/2026