Cartier Resources (ECR) AI Stock Analysis

• Market Cap: C$128.40M
• Dividend Yield: N/A
• Average Volume (3M): 602.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.89
• Revenue Growth: N/A
• EPS Growth: -661.70%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 442,753,140
• 10 Day Avg. Volume: 583,748
• 30 Day Avg. Volume: 602,292
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -23.55
• 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: 55 Neutral
• Price Target: C$0.30 ▲(14.23% Upside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and ongoing cash burn), partially offset by a strong low-debt balance sheet. Technicals are constructive with price above key moving averages, though momentum looks stretched (RSI ~70). Recent corporate events are notably positive, highlighted by a sizable resource expansion and continued high-grade exploration progress, but valuation remains constrained by the company’s loss-making status and lack of dividend.

Positive Factors

Conservatively levered balance sheet (very low debt)

Very low absolute debt (~$56k TTM) and near-zero leverage give Cartier durable financial flexibility typical for explorers. This reduces solvency risk, lowers fixed obligations during multi-year programs, and makes it easier to structure option/JV deals without immediate debt pressures.

Meaningful resource expansion at Cadillac Project

A material resource increase (M&I +7% and inferred +48%) materially increases the project's scale and optionality. Larger, well-defined resources improve economics potential, enhance attractiveness to JV/ buyers, and lengthen the runway to monetization versus smaller targets.

High-grade drill results and metallurgical testwork initiated

High-grade intercepts plus active metallurgical testwork reduce technical and recovery risk, improving the quality of the deposit. Demonstrating metallurgy and grade continuity supports feasibility, partner interest, and the case for advancing to development or sale.

Negative Factors

No operating revenue and widening net losses

The absence of operating revenue and materially larger losses (-$10.1M 2024; -$13.1M TTM) are structural constraints. Without revenue, the company relies on financings; persistent losses erode shareholder capital and raise dilution risk if exploration results don't convert to monetizable assets.

Consistent negative operating and free cash flow

Repeated negative operating and free cash flow (operating cash flow ~ -$1.1M TTM) means the business cannot self-fund exploration. This creates ongoing reliance on equity financings or partner deals, increasing dilution risk and potentially forcing suboptimal financing or project-timing decisions.

Negative returns on equity and capital erosion risk

A ~-36% ROE TTM signals value destruction from current operations. Persistently negative ROE depletes the equity base unless offset by fresh capital or asset monetization, undermining long-term funding capacity and weakening negotiating leverage with partners.

Cartier Resources Business Overview & Revenue Model

Company Description

Cartier Resources Inc. engages in the acquisition and exploration of mining properties in Canada. It explores for gold deposits. The company's flagship project is the Chimo mine property located to the east of Val-d'Or, Quebec. It also holds interest in Benoist, Fenton, Wilson, Cadillac Extension, Dollier, and MacCormack metal deposit projects, which are located in Quebec. The company was incorporated in 2006 and is headquartered in Val-d'Or, Canada.

How the Company Makes Money

Cartier Resources makes money primarily through the discovery and development of mineral resources, particularly gold. The company generates revenue by increasing the value of its mineral properties through exploration activities, which can then be sold or developed into producing mines. Key revenue streams include strategic partnerships and joint ventures with other mining companies, as well as potential future royalties or production revenues from developed properties. Additionally, Cartier Resources may raise capital through equity financing to fund its exploration activities, which is common in the mining exploration industry.

Cartier Resources Financial Statement Overview

Summary

Exploration-stage profile with no revenue and widening losses (net loss roughly -$10.1M in 2024 and -$13.1M TTM) plus consistently negative operating/free cash flow, partly offset by a conservatively levered balance sheet with minimal debt (~$56k TTM) and sizable equity (~$39.4M TTM).

Income Statement

Cartier Resources reports no revenue across the disclosed periods, while losses have widened materially. Net loss increased from about -$0.9M (2020) to -$10.1M (2024) and -$13.1M in TTM (Trailing-Twelve-Months), alongside deeply negative EBITDA in the most recent periods, indicating elevated spending relative to the company’s current operating scale. The main strength is cost discipline is less relevant here given the absence of revenue; overall profitability and operating momentum are weak.

Balance Sheet

The balance sheet is conservatively levered, with very low total debt (~$56k in TTM (Trailing-Twelve-Months)) and minimal debt relative to equity (near-zero). Equity remains sizable (~$39.4M in TTM (Trailing-Twelve-Months)), supporting financial flexibility for an exploration-stage gold company. The key weakness is ongoing losses driving negative returns on equity (about -36% in TTM (Trailing-Twelve-Months)), which can erode the capital base over time if not offset by future funding or asset gains.

Cash Flow

Cash generation is weak, with operating cash flow negative in every period provided and still negative in TTM (Trailing-Twelve-Months) (about -$1.1M). Free cash flow is also consistently negative, and the most recent trend shows deterioration (TTM (Trailing-Twelve-Months) free cash flow down meaningfully versus the prior annual period). A relative positive is that free cash flow has at times been less negative than accounting losses, but the business still relies on external financing to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-25.19K	-24.34K	-22.74K	-23.56K	-20.33K	-20.27K
EBITDA	-14.98M	-11.18M	-1.51M	-1.40M	-1.31M	-1.21M
Net Income	-13.11M	-10.14M	-1.39M	-1.11M	-290.44K	-852.00K
Balance Sheet
Total Assets	44.82M	37.81M	47.26M	45.14M	33.30M	33.76M
Cash, Cash Equivalents and Short-Term Investments	10.21M	1.37M	4.85M	7.01M	6.28M	13.27M
Total Debt	55.95K	83.00K	118.67K	85.24K	119.99K	157.15K
Total Liabilities	5.47M	4.35M	5.14M	5.63M	4.55M	5.75M
Stockholders Equity	39.36M	33.46M	42.12M	39.51M	28.75M	28.01M
Cash Flow
Free Cash Flow	-1.55M	-1.20M	-6.34M	-5.15M	-8.25M	-4.12M
Operating Cash Flow	-1.06M	-1.20M	-1.08M	-1.44M	-856.52K	-993.83K
Investing Cash Flow	-2.39M	-3.74M	-5.26M	-3.57M	-6.30M	-2.38M
Financing Cash Flow	12.10M	1.43M	4.10M	5.78K	87.84K	8.97M

Cartier Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.26
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ECR, the sentiment is Positive. The current price of 0.26 is below the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.25, and above the 200-day MA of 0.18, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 53.15 is Neutral, neither overbought nor oversold. The STOCH value of 41.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ECR.

Cartier Resources 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%
ECR	55 Neutral	C$128.40M	-7.68	-32.54%	―	―	-661.70%
MGM	50 Neutral	C$162.29M	-22.41	-91.76%	―	―	16.91%
VEIN	50 Neutral	C$128.38M	-5.35	―	―	―	―
ABI	47 Neutral	C$119.15M	-4.26	―	―	-100.00%	-7.21%

Cartier Resources Corporate Events

Cartier Extends High-Grade Gold Mineralization at Cadillac’s North Contact Zone

Cartier Resources has reported new drilling results from the Contact Sector of its Cadillac Project, confirming multiple shallow, high-grade gold zones in the North Contact Zone (NCZ) and extending its mineralized footprint 500 metres east along strike. Recent holes in the NC1 and NC3 zones returned standout intercepts of 54.6 g/t gold over 1.0 metre and 4.4 g/t gold over 6.0 metres, while additional drilling demonstrated that the NCZ reaches surface, remains open at depth and now defines a large, stacked mineralized system approximately 400 metres in strike length by 300 metres in depth. With minimal overburden, easy road access and geological continuity over at least 1 kilometre of the Héva Fault Zone, Cartier views the Contact Sector as a strategic growth asset and is planning a major expansion of its drill campaign, targeting deeper extensions, new regional anomalies and an upgraded mineral resource that could materially enhance the project’s scale and shareholder value potential.

The most recent analyst rating on (TSE:ECR) stock is a Hold with a C$0.28 price target. To see the full list of analyst forecasts on Cartier Resources stock, see the TSE:ECR Stock Forecast page.

Cartier Boosts Gold Resources With Updated NI 43-101 Estimate at Cadillac Project

Cartier Resources has filed an updated NI 43-101-compliant Mineral Resource Estimate for its Cadillac Project, incorporating 110,000 metres of Cartier drilling and 420,000 metres of historical drilling, which lifts measured and indicated gold resources to 767,800 ounces and inferred resources to 2,416,900 ounces. The new estimate, which consolidates all gold sectors across the property for the first time, increases resources versus the 2023 economic study, improves confidence with a larger measured component, highlights both open-pit and extensive underground development options supported by existing infrastructure, and underscores significant exploration upside along a 15 km gold corridor, reinforcing the project’s growth potential and strategic appeal for investors.

The most recent analyst rating on (TSE:ECR) stock is a Hold with a C$0.30 price target. To see the full list of analyst forecasts on Cartier Resources stock, see the TSE:ECR Stock Forecast page.

Cartier Resources Discovers New High-Grade Gold Zones at Cadillac Project

Cartier Resources reported new high-grade drill results from the Main Sector of its Cadillac Project, including 29.6 g/t gold over 1.7 metres and 13.2 g/t gold over 1.0 metre, which have led to the discovery of two new gold zones, 5B3 and 5C3, situated between the existing Chimo and East Chimo deposits. The company said these zones, along with confirmation that the 5B4 Zone at East Chimo extends from surface to 1,300 metres and remains open at depth, enhance the project’s resource growth potential, support more efficient mine planning and flexible operating scenarios, and could materially improve overall project economics and value as drilling continues into underexplored areas of the Main Sector.

The most recent analyst rating on (TSE:ECR) stock is a Hold with a C$0.27 price target. To see the full list of analyst forecasts on Cartier Resources stock, see the TSE:ECR Stock Forecast page.

Cartier Resources Builds on Cadillac Project Breakthroughs to Target 2026 Growth

Cartier Resources reported a landmark 2025, marked by a major management restructuring, significant funding, and a strategic option agreement granting Exploits Discovery Corp. the right to earn 100% interests in three non-core properties, freeing Cartier to concentrate capital and expertise on its flagship Cadillac Project. The company launched a 100,000-metre diamond drill program that expanded known high-grade zones and underpinned a substantial increase in measured, indicated, and inferred gold resources at Cadillac, while awarding metallurgy and environmental baseline studies to independent engineering firms and surpassing a market capitalization of C$100 million. Looking into 2026, Cartier plans to maintain a steady flow of drill results, integrate artificial intelligence–generated exploration targets, and leverage upcoming metallurgical and environmental data along with stronger gold prices in its next scoping study, moves that management believes could support a valuation re‑rating and further enhance the project’s development trajectory and long-term shareholder value.

The most recent analyst rating on (TSE:ECR) stock is a Hold with a C$0.26 price target. To see the full list of analyst forecasts on Cartier Resources stock, see the TSE:ECR Stock Forecast page.

Cartier Resources Builds on Strong 2025 to Accelerate Growth at Cadillac Project in 2026

Cartier Resources reported a transformative 2025 marked by management restructuring, strengthened financing, and a major option agreement granting Exploits Discovery rights to earn full interests in three non-core properties, while the company concentrated capital and technical efforts on its Cadillac Project. During the year, Cartier launched a 100,000‑metre diamond drilling campaign that expanded high-grade zones and drove a significant increase in measured, indicated and inferred gold resources at Cadillac, pushed its market capitalization above C$100 million, and advanced key technical work in metallurgy and environmental baseline studies to support future engineering decisions.
Looking to 2026, Cartier plans to maintain a strong pace of drilling, incorporate artificial intelligence–generated targets to refine exploration, and integrate higher gold price assumptions into updated resource models and the next scoping study, with the goal of further re‑rating its valuation as Cadillac evolves toward a potential mining camp-scale development. Management emphasizes that ongoing results from drilling and upcoming technical study deliverables are expected to underpin continued resource growth and de-risk the project, reinforcing Cartier’s strategic positioning in the Abitibi gold sector and its value proposition for shareholders.

The most recent analyst rating on (TSE:ECR) stock is a Hold with a C$0.26 price target. To see the full list of analyst forecasts on Cartier Resources stock, see the TSE:ECR Stock Forecast page.

Cartier Resources Lifts Gold Resource at Cadillac Project, Boosting Growth and Flexibility

Cartier Resources reported a substantial increase in gold resources at its Cadillac Project, with measured and indicated resources rising 7% to 767,800 ounces and inferred resources jumping 48% to 2,416,900 ounces, underpinned by both open-pit and underground-constrained mineralization. The updated mineral resource estimate, which incorporates extensive historical and recent drilling, enhances project flexibility and de-risking, supported by existing underground infrastructure and a high-grade core sector that hosts most of the resources; combined with a large camp-scale exploration upside and an ongoing 100,000-metre drilling campaign guided by AI-assisted targeting, the project is positioned for continued resource growth and potential value creation for stakeholders.

Cartier Resources Grants Stock Options to Key Personnel

Cartier Resources Inc., a company listed on the TSX Venture Exchange, has announced the granting of 3,600,000 stock options to its directors, officers, and one employee. Each option allows the purchase of one common share at $0.225, valid until December 15, 2030, potentially impacting the company’s stockholder structure and aligning management interests with shareholder value.

Cartier Resources Unveils High-Grade Gold Discoveries at Cadillac Project

Cartier Resources has announced significant results from its drilling program at the North Contact Zone of the Cadillac Project, revealing high-grade gold intersections. These results highlight the presence of a shallow, extensive mineralized system with significant expansion potential, positioning the project as a strategic asset for potential shallow operations. The newly identified Héva Fault Zone further enhances the project’s growth prospects, with plans for further exploration to test new targets and refine the geological model.

Cartier Resources Launches Metallurgical Testwork and Ambitious Drilling Program at Cadillac Project

Cartier Resources Inc. has initiated a metallurgical testwork program on samples from its Cadillac Project in Val-d’Or, Quebec. The program aims to define gold recovery rates, establish metallurgical data for satellite deposits, and support the development of an integrated process flowsheet. Results are expected in Q1 2026. In addition, Cartier is undertaking a 100,000-meter drilling program to expand known gold zones and test new targets along the Cadillac Fault Zone, alongside environmental studies to assess the economic potential of the Chimo mine tailings.

Cartier Resources Unveils High-Grade Gold Discoveries at Cadillac Project

Cartier Resources Inc. announced significant results from its ongoing drilling program at the North Contact Zone (NCZ) of the Cadillac Project, revealing multiple high-grade gold zones. The results indicate a robust and extensive mineralized system with potential for expansion, positioning the NCZ as a strategic asset for future operations. The company plans to continue drilling to extend gold mineralization closer to the surface and explore new high-priority targets, reinforcing its strategic focus on this promising sector.