Cartier Resources Inc (TSE:ECR)
:ECR
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Cartier Resources
(ECR)
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Rating:52Neutral
Price Target:
C$0.29
▲(10.00% Upside)
Action:Reiterated
Date:05/23/26
The score is primarily driven by a solid, low-debt balance sheet but materially offset by the lack of revenue, recurring losses, and consistent cash burn. Technical indicators are neutral-to-mixed, and valuation is difficult to assess due to negative earnings and no dividend data.
Positive Factors
Low leverage / strong equity base
Extremely low leverage and a sizable equity base (~$39M) provide Cartier with durable financial flexibility to fund staged exploration programs without immediate solvency pressure. For an exploration company this reduces refinancing and interest burdens and preserves optionality to advance prospects.
Negative Factors
No revenue / persistent operating losses
The absence of operating revenue and ongoing losses is a structural constraint: without a discovered and monetized resource the company must repeatedly access external capital. This increases dilution risk and means long-term value depends entirely on successful exploration outcomes rather than operating cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity base
Extremely low leverage and a sizable equity base (~$39M) provide Cartier with durable financial flexibility to fund staged exploration programs without immediate solvency pressure. For an exploration company this reduces refinancing and interest burdens and preserves optionality to advance prospects.
Read all positive factors
Cartier Resources (ECR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$126.26M
Dividend YieldN/A
Average Volume (3M)602.29K
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue GrowthN/A
EPS Growth63.39%
CountryCA
Employees10
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding446,160,130
10 Day Avg. Volume583,748
30 Day Avg. Volume602,292
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)2.67
Price to Sales (P/S)0.00
P/FCF Ratio-59.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 inter...
How the Company Makes Money
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Cartier Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
32
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -26.31K | -24.34K | -22.74K | -23.56K | -20.33K |
| EBITDA | -2.14M | -11.18M | -1.51M | -1.40M | -1.31M |
| Net Income | -4.34M | -10.14M | -1.39M | -1.11M | -290.44K |
Balance Sheet | |||||
| Total Assets | 44.43M | 37.81M | 47.26M | 45.14M | 33.30M |
| Cash, Cash Equivalents and Short-Term Investments | 7.88M | 1.37M | 4.85M | 7.01M | 6.28M |
| Total Debt | 46.80K | 83.00K | 118.67K | 85.24K | 119.99K |
| Total Liabilities | 5.26M | 4.35M | 5.14M | 5.63M | 4.55M |
| Stockholders Equity | 39.18M | 33.46M | 42.12M | 39.51M | 28.75M |
Cash Flow | |||||
| Free Cash Flow | -1.77M | -1.20M | -6.34M | -5.15M | -8.25M |
| Operating Cash Flow | -1.73M | -1.20M | -1.08M | -1.44M | -856.52K |
| Investing Cash Flow | -2.54M | -3.74M | -5.26M | -3.57M | -6.30M |
| Financing Cash Flow | 10.79M | 1.43M | 4.10M | 5.78K | 87.84K |
Cartier Resources Technical Analysis
Positive
0.26
Price Trends
0.25
Positive
0.26
Positive
0.23
Positive
Market Momentum
<0.01
Negative
65.89
Neutral
73.65
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 0.26, above the 50-day MA of 0.25, and above the 200-day MA of 0.23, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.89 is Neutral, neither overbought nor oversold. The STOCH value of 73.65 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
UnderperformOutperform
Sector (61)
TSE:ECR
Cartier Resources
0.28
0.17
154.55%
TSE:ABI
Abcourt Mines
0.09
0.03
54.55%
TSE:MGM
Maple Gold Mines Ltd
3.10
2.25
264.71%
TSE:BLLG
Blue Lagoon Resources
0.80
0.27
50.94%
TSE:ACM
DeepRock Minerals
2.03
1.81
822.73%
Cartier Resources Corporate Events
Business Operations and StrategyExecutive/Board Changes
Cartier Resources Adds Veteran Mining Leader Glenn Mullan to Board to Drive Cadillac Project
Positive
Apr 9, 2026
Cartier Resources has appointed veteran mining executive and geologist Glenn Mullan to its board of directors, reinforcing governance and strategic depth as it advances its Cadillac gold project in the Val-d’Or mining camp. Mullan, who has o...
Business Operations and Strategy
Cartier Uncovers New Intrusion-Related Gold System at Cadillac Project
Positive
Mar 25, 2026
Cartier Resources has identified a new porphyritic intrusion-related gold system in the Hope Sector of its Cadillac Project, reporting intercepts such as 5.2 g/t gold over 5.0 meters and 1.2 g/t over 25.5 meters in Pontiac sedimentary rocks south ...
Business Operations and Strategy
Cartier Confirms New Shallow High-Grade Gold Zone at Cadillac Portal Sector
Positive
Mar 12, 2026
Cartier Resources reported new drilling results from the Portal Sector of its Cadillac Project, confirming a shallow high-grade gold zone in the North Simon Zone, including an intercept of 7.1 g/t gold over 8.0 meters. The newly recognized zone ex...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.