Arctic Minerals AB (ARCT) AI Stock Analysis

• Market Cap: kr453.82M
• Dividend Yield: N/A
• Average Volume (3M): 35.96K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.33
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.21
• Shares Outstanding: 47,028,175
• 10 Day Avg. Volume: 21,303
• 30 Day Avg. Volume: 35,964
• PEG Ratio: >-0.01
• Price to Book (P/B): 3.44
• Price to Sales (P/S): 23532.42
• P/FCF Ratio: -78.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: kr9.50 ▲(88.12% Upside)

Strong technical uptrend and positive momentum indicators support the score, but the overall result is capped by weak financial performance (persistent losses and ongoing cash burn). A debt-free, equity-heavy balance sheet helps reduce financial risk, while negative earnings (negative P/E) and no dividend data limit valuation support.

Positive Factors

Debt-free, equity-backed balance sheet

A zero-debt capital structure with meaningful equity provides durable financial flexibility for an exploration company. It lowers insolvency and interest risks, supports continued project funding and M&A/transaction optionality, and lengthens runway before external financing is required.

Focus on battery and industrial minerals

Targeting battery and industrial minerals aligns the business with long-term structural demand from electrification and decarbonization. This strategic focus increases the chance that discovered resources gain premium demand, supporting future development or attractive transaction opportunities with strategic buyers.

Improving cash burn trajectory

A material reduction in operating cash burn year-over-year is a durable positive if sustained: it indicates better cost control or project prioritization, lengthens operational runway, and reduces near-term reliance on dilutive financing, improving chances to reach value-creating milestones.

Negative Factors

Persistent negative operating cash flow

Chronic negative operating and free cash flows indicate the business cannot self-fund exploration or development. Over the medium term this necessitates repeated external financing, which risks dilution, constrains strategic choices, and exposes the company to funding-market cycles.

Extremely small, volatile revenue

Minimal and inconsistent revenue shows the company has not yet demonstrated scalable commercial operations. For an explorer, this signals a long path to material cash generation and increases execution risk that exploration successes will translate into sustained revenues or attractive project monetizations.

Negative returns on equity

Persistent negative ROE means the existing capital base is not generating returns, eroding shareholder value if losses continue. This structural profitability shortfall raises pressure for turnaround, divestiture, or equity raises, and undermines long-term capital efficiency even with a strong equity buffer.

Arctic Minerals AB Business Overview & Revenue Model

Company Description

Arctic Minerals AB (publ), through its subsidiaries, engages in the exploration and mining of mineral projects in Norway and Sweden. It explores for gold, copper, and zinc deposits, as well as battery metals. The company holds 100% interest in the Bidjovagge gold-copper project that covers a total of 9 extraction permits totaling 7.16 square kilometers at Bidjovagge, as well as 1 exploration permit covering 1 square kilometer located in Finnmark, Northern Norway. It also holds interests in the Nutukka exploration reservation covering 366 square kilometers located towards the eastern end of the Central Lapland Greenstone Belt of northern Finland. The company was formerly known as Arctic Gold AB (publ) and changed its name to Arctic Minerals AB (publ) in December 2017. Arctic Minerals AB (publ) was incorporated in 1999 and is based in Östersund, Sweden.

How the Company Makes Money

Arctic Minerals AB Financial Statement Overview

Summary

Overall financial quality is weak: revenue is extremely small and volatile and profitability is deeply negative, with persistent operating losses. Cash flow is also consistently negative (ongoing operating cash burn and negative free cash flow), though 2024 burn improved versus 2023. Offsetting this, the balance sheet is strong and conservatively financed with no debt and substantial equity, reducing near-term solvency risk.

Income Statement

Revenue remains extremely small and volatile (2024 revenue of 15k vs. 7k in 2023), while profitability is deeply negative. 2024 shows a sharp deterioration in reported margins (gross and net losses far exceeding revenue), and the business has produced consistent operating losses (negative EBIT/EBITDA) across all years provided. Strength: revenue growth in 2024 is positive off a very low base; weakness: there is no clear path yet to stable, scalable profitability based on the current income profile.

Balance Sheet

The balance sheet is conservatively financed with no debt in any year shown (debt-to-equity at 0.0), which materially reduces financial risk and gives flexibility to fund operations. Equity is meaningful relative to assets (e.g., 2024 equity 102.7M vs. assets 111.3M), indicating a strong capital base. Weakness: returns on equity are consistently negative (e.g., 2024), reflecting that capital is not currently generating profits and could be pressured if losses persist.

Cash Flow

Cash generation is weak, with consistently negative operating cash flow and negative free cash flow every year (including 2024). While 2024 cash burn improved versus 2023 (operating cash flow -4.5M vs. -10.1M), the company still relies on financing to sustain operations. Strength: the direction of cash burn is improving recently; weakness: free cash flow remains structurally negative, limiting self-funding capacity until operating performance improves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	366.00K	15.00K	7.00K	0.00	118.00K	139.00K
Gross Profit	-10.97M	-5.92M	-2.19K	-121.00K	21.00K	-13.14M
EBITDA	-4.14M	-5.84M	-11.16M	-18.74M	-15.74M	-21.04M
Net Income	-12.49M	-5.84M	-11.28K	-18.86M	-15.87M	-21.04M
Balance Sheet
Total Assets	120.22M	111.28M	57.40M	60.73M	72.16M	57.37M
Cash, Cash Equivalents and Short-Term Investments	19.17M	13.02M	4.61M	5.39M	17.95M	2.14M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	8.58M	8.55M	8.72M	8.61M	6.13M	12.33M
Stockholders Equity	111.64M	102.73M	48.68M	52.12M	66.03M	45.04M
Cash Flow
Free Cash Flow	-15.10M	-4.52M	-10.13M	-17.54M	-11.99M	-9.87M
Operating Cash Flow	-14.12M	-4.52M	-10.13M	-15.48M	-11.63M	-5.50M
Investing Cash Flow	-979.00K	-979.00K	0.00	-2.06M	-529.00K	-4.37M
Financing Cash Flow	31.50M	13.91M	9.19M	4.99M	28.07M	0.00

Arctic Minerals AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOTX	70 Outperform	kr579.43M	11.26	―	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ARCT	56 Neutral	kr453.82M	-24.62	-15.76%	―	―	―