Element 29 Resources (TSE:ECU)
:ECU
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Element 29 Resources
(ECU)
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Rating:50Neutral
Price Target:
C$1.50
▲(38.89% Upside)
Action:Reiterated
Date:06/19/26
The score is held down primarily by weak financial performance typical of a pre-revenue company (persistent losses and rising TTM free-cash-flow burn), partially offset by a strong, low-debt balance sheet. Technicals are moderately supportive with the price above major moving averages, while valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Low Leverage / Strong Balance Sheet
Extremely low leverage and a sizeable equity base give Element 29 durable financial flexibility to fund exploration, pursue joint-venture options, or weather exploration cycles without immediate refinancing. This reduces short-to-medium‑term solvency risk and preserves optionality for project advancement.
Negative Factors
Pre-Revenue with Persistent Losses
The company reports no revenue and sustained net losses across periods, meaning operations cannot self-fund. Persistent losses constrain internal funding for drilling and development, raise dependency on external capital, and elevate dilution and execution risk over the coming months as projects require continued financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet
Extremely low leverage and a sizeable equity base give Element 29 durable financial flexibility to fund exploration, pursue joint-venture options, or weather exploration cycles without immediate refinancing. This reduces short-to-medium‑term solvency risk and preserves optionality for project advancement.
Read all positive factors
Element 29 Resources (ECU) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$301.92M
Dividend YieldN/A
Average Volume (3M)67.80K
Price to Earnings (P/E)―
Beta (1Y)0.03
Revenue GrowthN/A
EPS Growth76.73%
CountryCA
Employees1
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)-0.02
Shares Outstanding188,697,570
10 Day Avg. Volume110,413
30 Day Avg. Volume67,800
Financial Highlights & Ratios
PEG Ratio0.90
Price to Book (P/B)7.09
Price to Sales (P/S)0.00
P/FCF Ratio-117.88
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
Element 29 Resources Business Overview & Revenue Model
Company Description
Element 29 Resources Inc. is an exploration and development company focused on mineral properties throughout Peru. The company's primary objective involves discovering and assessing deposits of copper, molybdenum, gold, silver, lead, zinc, and oth...
How the Company Makes Money
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Element 29 Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
63
Positive
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -54.70K | -58.94K | -39.67K | -17.76K | -5.14K |
| EBITDA | -2.64M | -7.08M | -1.36M | -3.09M | -2.90M |
| Net Income | -2.57M | -7.15M | -1.92M | -5.24M | -2.91M |
Balance Sheet | |||||
| Total Assets | 24.37M | 13.30M | 15.93M | 14.54M | 17.80M |
| Cash, Cash Equivalents and Short-Term Investments | 7.57M | 1.19M | 1.23M | 1.10M | 7.83M |
| Total Debt | 77.01K | 13.61K | 43.76K | 40.00K | 40.00K |
| Total Liabilities | 1.50M | 459.39K | 177.01K | 460.74K | 791.34K |
| Stockholders Equity | 22.87M | 12.84M | 15.75M | 14.08M | 17.01M |
Cash Flow | |||||
| Free Cash Flow | -1.38M | -1.31M | -3.26M | -7.47M | -5.20M |
| Operating Cash Flow | -1.35M | -1.31M | -1.86M | -2.23M | -2.01M |
| Investing Cash Flow | -3.68M | -2.31M | -1.38M | -5.25M | -3.22M |
| Financing Cash Flow | 11.41M | 3.58M | 3.39M | 720.00K | 6.84M |
Element 29 Resources Technical Analysis
Positive
1.08
Price Trends
1.36
Positive
1.26
Positive
1.11
Positive
Market Momentum
0.01
Negative
63.15
Neutral
60.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ECU, the sentiment is Positive. The current price of 1.08 is below the 20-day moving average (MA) of 1.42, below the 50-day MA of 1.36, and below the 200-day MA of 1.11, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.15 is Neutral, neither overbought nor oversold. The STOCH value of 60.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ECU.
Element 29 Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | C$301.92M | -110.19 | -14.07% | ― | ― | 76.73% | |
49 Neutral | C$129.18M | -113.40 | -2.25% | ― | ― | 96.04% | |
49 Neutral | C$227.32M | 80.72 | -3.35% | ― | 2838.74% | -970.59% | |
46 Neutral | C$379.91M | -36.37 | -6.57% | ― | ― | -266.01% |
* Basic Materials Sector Average
TSE:ECU
Element 29 Resources
1.60
1.12
229.90%
TSE:HI
Highland Copper
0.18
0.08
84.21%
TSE:LA
Los Andes Copper
12.50
6.80
119.30%
TSE:GCU
Gunnison Copper
0.45
0.18
63.64%
TSE:VCU
Vizsla Copper
1.28
0.28
28.00%
Element 29 Resources Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Element 29 Seeks Up to $35.5 Million to Fund Peruvian Copper Exploration
Positive
Apr 9, 2026
Element 29 Resources plans to raise up to $35.5 million through a non‑brokered private placement of 32.27 million common shares at $1.10 each, subject to TSX Venture Exchange approval and standard resale restrictions. Net proceeds are earmar...
Business Operations and Strategy
Element 29 Extends Elida Copper Mineralization With Long Peru Drill Hit
Positive
Apr 1, 2026
Element 29 reported new drilling results from hole ELID041 at its Elida porphyry copper-molybdenum-silver deposit in central Peru, intersecting 903.7 metres at 0.38% copper equivalent from near surface and extending mineralization more than 400 me...
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.