CANEX Metals (CANX) AI Stock Analysis

• Market Cap: C$37.56M
• Dividend Yield: N/A
• Average Volume (3M): 249.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.40
• Revenue Growth: N/A
• EPS Growth: -52.00%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 166,950,490
• 10 Day Avg. Volume: 54,728
• 30 Day Avg. Volume: 249,630
• PEG Ratio: -0.76
• Price to Book (P/B): 2.90
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -83.56
• 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: 53 Neutral
• Price Target: C$0.21 ▲(4.00% Upside)

The score is held back primarily by weak financial performance (pre-revenue losses and ongoing cash burn) and limited valuation support (negative P/E). Offsetting factors include constructive technical momentum (price above key moving averages with positive MACD) and supportive corporate events (C$3M financing and insider participation strengthening balance sheet and M&A positioning).

CANEX Metals Business Overview & Revenue Model

Company Description

CANEX Metals Inc. engages in the acquisition, exploration, and development of mineral properties. The company explores for gold and silver deposits. It holds interests in the Gold Range property that consists of 202 lode mining claims and 2 patented claims covering an area of 1,504 hectares located in Mohave County, Arizona; Gibson property covering an area of 887 hectares located in central British Columbia; and the Echo, Fulton, Red, and Beal properties located in British Columbia. The company was formerly known as Northern Abitibi Mining Corp. and changed its name to CANEX Metals Inc. in April 2017. CANEX Metals Inc. is headquartered in Calgary, Canada.

How the Company Makes Money

CANEX Metals makes money through the exploration and development of mineral properties, primarily focusing on gold and copper. The company generates revenue by discovering economically viable mineral deposits and subsequently selling or leasing these properties to larger mining companies or joint venture partners. Additionally, CANEX may earn income through the sale of its mineral rights or through royalties and streaming agreements, where it receives a percentage of the revenue generated from the mining activities conducted on its properties by other companies. Significant partnerships with larger mining firms or investors can also contribute to CANEX's earnings by providing the necessary capital and resources to advance its exploration projects.

CANEX Metals Financial Statement Overview

Summary

CANEX Metals faces significant challenges due to its lack of revenue generation and continued operational losses. Despite a strong equity base and no debt, the company is heavily reliant on equity financing to sustain operations. The absence of revenue growth and negative cash flows suggest financial instability, raising concerns about its ability to achieve profitability in the near term.

Income Statement

CANEX Metals has not generated any revenue over the past years, indicating challenges in its business operations or exploration activities. The company consistently shows negative EBIT and net income, reflecting ongoing losses without signs of profitability. The lack of revenue growth is concerning, as it suggests no monetizable production or sales.

Balance Sheet

The company's balance sheet shows some strengths, such as a zero debt position, which is a positive sign of financial prudence. However, the equity ratio is relatively high due to minimal liabilities, indicating reliance on equity financing. The return on equity is negative, driven by continued losses, which detracts from the company's financial health.

Cash Flow

CANEX Metals exhibits negative operating and free cash flows, indicative of cash burn without offsetting income. The free cash flow growth rate is negative due to higher capital expenditures and no revenue generation. Although there's some positive financing cash flow, it primarily stems from equity financing rather than operational improvements.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-4.73K	-4.73K	-2.13K	-3.38K	-30.00	-18.00
EBITDA	-490.91K	-492.08K	-247.00K	-463.60K	-781.33K	-805.00K
Net Income	-496.82K	-496.82K	-279.00K	-535.40K	-781.36K	-806.00K
Balance Sheet
Total Assets	7.60M	7.60M	5.97M	5.92M	5.77M	3.88M
Cash, Cash Equivalents and Short-Term Investments	663.91K	663.91K	189.13K	785.75K	1.77M	1.82M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	319.77K	319.77K	96.15K	98.25K	145.09K	233.70K
Stockholders Equity	7.28M	7.28M	5.87M	5.83M	5.62M	3.65M
Cash Flow
Free Cash Flow	-618.76K	-252.24K	-596.13K	-1.52M	-2.59M	-1.28M
Operating Cash Flow	-252.24K	-252.24K	-251.90K	-465.71K	-528.57K	-481.98K
Investing Cash Flow	-956.20K	-956.20K	-282.67K	-888.91K	-1.83M	-668.50K
Financing Cash Flow	1.71M	1.71M	-3.25K	591.97K	2.62M	1.90M

CANEX Metals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CANX, the sentiment is Positive. The current price of 0.2 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.15, and above the 200-day MA of 0.10, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 65.39 is Neutral, neither overbought nor oversold. The STOCH value of 78.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CANX.

CANEX Metals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CANX	53 Neutral	C$37.56M	-59.21	-7.47%	―	―	-52.00%
RDG	52 Neutral	C$40.57M	93.55	2.73%	―	―	―
BTR	50 Neutral	C$41.42M	-4.21	-67.80%	―	―	42.48%
JG	50 Neutral	C$35.09M	-5.58	-22.31%	―	―	-70.25%
USGD	45 Neutral	C$37.24M	50.00	1.86%	―	―	―
FUTR	45 Neutral	C$34.80M	―	―	―	―	―

CANEX Metals Corporate Events

CANEX Metals Gains Strong Backing in Gold Basin Bid, Extends Offer and Lowers Tender Threshold

CANEX Metals has reported that 47% of Gold Basin Resources’ shares have already been tendered to its all-share takeover offer, prompting the company to extend the offer deadline to January 19, 2026, to give additional time for shareholders to tender amid delays caused by Gold Basin’s lack of a transfer agent. The bid, which CANEX says values Gold Basin at approximately $18 million, or more than $0.13 per share and represents a roughly 221% premium to Gold Basin’s last-traded 30-day VWAP, has been strengthened by CANEX’s decision to waive its original 66 2/3% minimum tender condition and proceed once the statutory 50% threshold is met, sharpening the contrast with Gold Basin’s contested farm-in agreement with Helix Resources and offering shareholders a more liquid and immediate path to value. CANEX also highlighted ongoing permitting work at its Louise Copper-Gold Porphyry project in British Columbia, where it plans to drill new geophysical targets in 2026, underscoring its broader growth strategy in copper-gold exploration.

The most recent analyst rating on (TSE:CANX) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on CANEX Metals stock, see the TSE:CANX Stock Forecast page.

CANEX Metals Raises $3 Million and Gains New Insider as Gold Basin Bid Builds Momentum

CANEX Metals has closed a non-brokered private placement of 20 million common shares at $0.15 each, raising $3 million and bringing prominent mining executive Eric Fier in as its largest shareholder with a 10% stake, alongside continued backing from strategic investor Michael Gentile and other industry investors. The financing strengthens CANEX’s balance sheet, removes financial risk around its all-share offer to acquire Gold Basin Resources, and funds exploration and district consolidation efforts in northern Arizona, while the company reports that approximately 44% of Gold Basin’s shares have already been tendered to its high-premium offer, signaling growing momentum for the proposed transaction and potential creation of a consolidated oxide gold district.

CANEX Metals Secures $3 Million Financing to Support Gold Basin Acquisition

CANEX Metals Inc. has announced a C$3 million strategic financing led by mining industry leader Eric Fier, aimed at supporting its offer to acquire Gold Basin Resources. This financing is expected to mitigate financial risks and demonstrate CANEX’s capability to fund exploration and development in Northern Arizona, offering Gold Basin shareholders a significant premium and a path to liquidity amidst their current regulatory challenges.

CANEX Metals Gains Support for Gold Basin Acquisition Amid Urgent Deadlines

CANEX Metals Inc. has announced that over 30% of Gold Basin Resources shareholders have committed to its offer to acquire all outstanding shares of Gold Basin. With the offer set to expire on December 12, 2025, CANEX emphasizes the urgency for remaining shareholders to tender their shares, especially as Gold Basin faces potential dissolution due to compliance failures. The acquisition is positioned as a strategic move to consolidate the Arizona district, promising superior value for Gold Basin shareholders compared to other alternatives.

CANEX Metals Re-elects Board and Confirms Strategic Plans

CANEX Metals announced the re-election of its board of directors at the Annual & Special Meeting held on October 30, 2025. Shareholders approved the appointment of BDO Canada LLP as auditors and ratified the company’s stock option plan, indicating a stable governance structure and continued strategic focus on its exploration projects.

CANEX Metals Challenges Gold Basin’s Board Over Acquisition Offer

CANEX Metals Inc. has responded to a Directors’ Circular issued by Gold Basin Resources Corporation, which advises shareholders to reject CANEX’s acquisition offer in favor of a farm-in agreement with Helix Resources. CANEX criticizes the legitimacy of the Gold Basin Board’s recommendation, citing the board’s lack of a shareholder mandate and internal conflicts. The company also highlights the financial instability and management issues at Gold Basin, emphasizing the potential benefits of the CANEX Offer, which promises liquidity and value through a combined oxide gold district. CANEX has also filed an independent technical report on its Gold Range project, countering Gold Basin’s claims about the project’s potential and showcasing significant new discoveries and exploration upside.