Steppe Gold (TSX:STGO) Construction In Progress: C$76.1 Mil (As of Mar. 2026)


TSX:STGO Steppe Gold Ltd TSX:STGO
77 GF Score
Price C$1.31
GF Value C$1.07
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Steppe Gold Construction In Progress?

Steppe Gold TSX:STGO +2.34% 77 Construction In Progress is C$76.1 Mil as of Mar. 2026. GuruFocus rates TSX:STGO with a GF Score™ of 77/100 and a GF Value™ of C$1.07 (Modestly Overvalued). The stock has 3 warning signs investors should review.

Steppe Gold's quarterly construction in progress declined from Sep. 2025 (C$91.7 Mil) to Dec. 2025 (C$74.6 Mil) but then increased from Dec. 2025 (C$74.6 Mil) to Mar. 2026 (C$76.1 Mil).

Steppe Gold's annual construction in progress increased from Dec. 2023 (C$2.0 Mil) to Dec. 2024 (C$81.9 Mil) but then declined from Dec. 2024 (C$81.9 Mil) to Dec. 2025 (C$74.6 Mil).

Steppe Gold Construction In Progress Historical Data

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The historical data trend for Steppe Gold's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Steppe Gold Construction In Progress Chart

Steppe Gold Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Construction In Progress
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.10 14.40 2.03 81.94 74.63

Steppe Gold Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 85.78 86.37 91.69 74.63 76.11
TSX:STGO
77GF Score
Steppe Gold Ltd TSX:STGO
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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Steppe Gold Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of C$76.1 Mil mean?
Steppe Gold (TSX:STGO) has a Construction In Progress of C$76.1 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on Steppe Gold and its competitors.
Is Steppe Gold's Construction In Progress too high?
Steppe Gold's current Construction In Progress is C$76.1 Mil. Overall, Steppe Gold has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Steppe Gold's Construction In Progress compare to NEM and AU?
Steppe Gold's Construction In Progress of C$76.1 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for a Metals & Mining company?
A good Construction In Progress depends on the Metals & Mining industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on Steppe Gold and its competitors. Steppe Gold's current Construction In Progress is C$76.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steppe Gold stock overvalued right now?
Based on GuruFocus' analysis, Steppe Gold (TSX:STGO) is currently considered Modestly Overvalued. The stock's GF Value™ is C$1.07, compared to a current price of C$1.31 — trading 22.4% above its estimated fair value. The current Construction In Progress is C$76.1 Mil. Steppe Gold's overall GF Score™ is 77/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For Steppe Gold (TSX:STGO), the current Construction In Progress is C$76.1 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Steppe Gold (TSX:STGO) Overvalued in 2026?

Based on GuruFocus' analysis, Steppe Gold stock appears to be overvalued. The current stock price of C$1.31 is trading 22.4% above its estimated GF Value™ of C$1.07. GuruFocus considers Steppe Gold to be Modestly Overvalued.

Key valuation signals for TSX:STGO:

  • Construction In Progress: C$76.1 Mil
  • GF Value™: C$1.07 vs. price of C$1.31 (22.4% above fair value)
  • GF Score™: 77/100 with 3 warning signs

No single metric tells the full story. See the TSX:STGO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Steppe Gold Business Description

Other Exchanges STPGF:USA2J9:Germany
Address Peace Avenue 17, 7th floor, Blue Sky Tower, Sukhbaatar District 1, Ulaanbaatar, MNG, 14241
Steppe Gold Ltd is engaged in operating, developing, exploring, and acquiring precious metal projects in Mongolia. The company's commercially producing mine is the Altan Tsagaan Ovoo Property (the ATO Project, or ATO Gold Mine), located in Eastern Mongolia. In addition, it owns the Boroo and Ulaanbulag mines (together as the Boroo Project), and holds interest rights in the Uudam Khundii (UK) project in Mongolia. The company derives its revenue from the sale of gold and silver to banks in Mongolia at London Metal Exchange-based spot rates. A majority of its revenue is generated from the sale of gold.
77GF Score

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Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$1.31
Price
C$1.07
GF Value