Equity Metals (EQTY) AI Stock Analysis

• Market Cap: C$96.60M
• Dividend Yield: N/A
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.53
• Revenue Growth: N/A
• EPS Growth: -12.30%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): N/A
• Shares Outstanding: 241,505,160
• 10 Day Avg. Volume: 1,301,223
• 30 Day Avg. Volume: 1,128,817
• PEG Ratio: -0.70
• Price to Book (P/B): 13.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.43
• 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: 47 Neutral
• Price Target: C$0.39 ▼(-14.35% Downside)

The score is primarily constrained by weak financial performance: the company is pre-revenue with persistent losses and meaningful cash burn, implying reliance on external funding despite having no debt. Technicals provide some support with the price still above key longer-term moving averages and a positive MACD, but near-term trend signals are softer. Valuation remains challenged due to the negative P/E tied to ongoing losses.

Positive Factors

Debt-free balance sheet

Zero debt is a durable structural strength for a junior explorer: it reduces immediate solvency risk, preserves flexibility to time capital raises through commodity cycles, and lowers fixed costs. This supports sustained project spending discipline during long exploration timelines.

Focused regional asset base

Concentrated exploration in British Columbia provides recurring benefits: known permitting regimes, established infrastructure and localized geological expertise. This regional focus can lower execution risk, speed programs, and improve cost predictability across multiple field seasons.

Systematic technical exploration program

A disciplined toolkit of mapping, geochemistry, geophysics and drilling indicates the company can advance targets methodically. Consistent technical capability increases probability of defining drill targets and converting prospects into resources, a lasting driver of asset value for explorers.

Negative Factors

Pre-revenue with widening net losses

Being pre-revenue while losses grow is a fundamental weakness: operating losses consume capital over multiple periods, forcing repeated financing or asset sales. Over time this erodes shareholder value and limits ability to progress projects without external funding.

Weak cash generation and accelerating burn

Persistently negative operating and free cash flow is a lasting operational constraint for an explorer. Accelerating cash burn increases reliance on capital markets, raises dilution risk, and can force project slowdowns or priority cuts, reducing the firm's optionality to advance multiple targets.

Declining equity and negative returns on equity

Material decline in equity and persistent negative ROE indicate capital is being consumed rather than compounded. This structural erosion constrains future financing terms, raises likelihood of dilution, and signals that current operations are not creating long-term shareholder value.

Equity Metals Business Overview & Revenue Model

Company Description

Equity Metals Corporation engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for gold, silver, copper, metal, silica, and diamond ores. It owns a 100% interest in the Silver Queen property that consists of 17 crown-granted and 45 tenure claims covering an area of 18,852 hectares located in the Omineca Mining Division, near Owen Lake, British Columbia; 57.49% interest in the Monument Diamond property comprising 3 mining leases and 2 staked claims covering an area of approximately 3,581 hectares located on the south shore of Lac de Gras in the Northwest Territories; and 100% in the La Ronge Silica project covering an area of 54 acres located in central Saskatchewan. The company was formerly known as New Nadina Explorations Limited and changed its name to Equity Metals Corporation in September 2019. Equity Metals Corporation was incorporated in 1964 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Equity Metals makes money primarily through the exploration and development of mineral resources, which can eventually lead to the sale of these assets or joint venture agreements with larger mining companies. The company may also generate revenue by selling off stakes in its projects or through royalties and streaming agreements. Key revenue streams include proceeds from the sale of mineral rights, exploration partnerships, and potential future production. Equity Metals' earnings are influenced by factors such as metal prices, exploration success, and strategic alliances with other industry players.

Equity Metals Financial Statement Overview

Summary

Pre-revenue with widening net losses and elevated TTM loss levels, alongside consistently negative operating/free cash flow indicating ongoing funding needs. The main offset is a debt-free balance sheet, but equity is shrinking, reflecting continued capital consumption.

Income Statement

Equity Metals is still pre-revenue (revenue is 0 across annual periods and TTM (Trailing-Twelve-Months)), with persistent operating losses. Losses have widened recently, with net income declining from -4.08M (2024 annual) to -5.42M (2025 annual) and remaining elevated at -4.86M in TTM (Trailing-Twelve-Months). Profitability metrics are effectively non-existent given no revenue base, and gross profit is negative, highlighting ongoing exploration/overhead spending without offsetting sales.

Balance Sheet

The balance sheet is conservatively financed with zero debt in every period, reducing solvency risk and providing flexibility. However, equity has trended down meaningfully (from 3.97M in 2024 annual to 2.76M in 2025 annual and 2.28M in TTM (Trailing-Twelve-Months)), consistent with continued losses and potential dilution/asset drawdowns. Returns on equity are deeply negative (TTM (Trailing-Twelve-Months) around -1.30), underscoring that capital is being consumed rather than compounded.

Cash Flow

Cash generation is weak, with consistently negative operating cash flow and free cash flow (TTM (Trailing-Twelve-Months) operating cash flow of about -5.60M and free cash flow about -5.61M). Free cash flow has deteriorated versus the latest annual period (free cash flow growth of -6.95 in TTM (Trailing-Twelve-Months)), indicating an accelerating cash burn. While free cash flow roughly tracks net losses (free cash flow to net income ~1.01 in TTM (Trailing-Twelve-Months)), the overall profile still points to ongoing funding needs absent a revenue inflection.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-7.04K	-69.52K	-6.91K	-8.37K	-11.04K
EBITDA	-5.33M	-4.91M	-2.93M	-5.18M	-4.15M
Net Income	-5.42M	-4.08M	-2.91M	-5.01M	-4.21M
Balance Sheet
Total Assets	3.73M	5.50M	3.34M	802.49K	2.17M
Cash, Cash Equivalents and Short-Term Investments	2.80M	5.00M	2.95M	497.52K	1.79M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	978.14K	1.53M	287.50K	96.86K	98.07K
Stockholders Equity	2.76M	3.97M	3.06M	705.63K	2.07M
Cash Flow
Free Cash Flow	-5.95M	-4.14M	-2.45M	-4.67M	-3.32M
Operating Cash Flow	-5.94M	-4.13M	-2.45M	-4.66M	-3.31M
Investing Cash Flow	-121.99K	-12.36K	0.00	-1.93K	25.70K
Financing Cash Flow	3.87M	6.19M	4.91M	3.38M	3.28M

Equity Metals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.46
• 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:EQTY, the sentiment is Neutral. The current price of 0.46 is above the 20-day moving average (MA) of 0.44, above the 50-day MA of 0.35, and above the 200-day MA of 0.25, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 47.92 is Neutral, neither overbought nor oversold. The STOCH value of 21.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:EQTY.

Equity 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%
CTM	56 Neutral	C$67.84M	-12.59	-27.31%	―	―	-3.73%
CGNT	53 Neutral	C$94.52M	-3.14	-369.28%	―	―	34.55%
ELR	48 Neutral	C$109.89M	-3.41	-28.77%	―	-19.44%	-2980.00%
EQTY	47 Neutral	C$96.60M	-16.13	-161.19%	―	―	-12.30%
ESAU	47 Neutral	C$71.19M	-6.85	-68.71%	―	―	5.05%
NVRO	44 Neutral	C$60.31M	-4.58	―	―	―	-16.67%

Equity Metals Corporate Events

Equity Metals Reaffirms Board, Extends Management Incentives After AGM

Equity Metals Corporation has reaffirmed its existing leadership structure following its January 28, 2026 annual general meeting, with all incumbent directors re-elected and the current slate of officers, including President Joseph A. Kizis Jr. and Chairman Lawrence Page, K.C., re-appointed. Shareholders also re-appointed Davidson & Company LLP as auditor and approved a rolling incentive stock option plan reserving up to 10% of the company’s issued shares, under which Equity Metals has now granted 9,000,000 stock options at $0.45 per share for a five-year term, reinforcing management and consultant alignment with shareholders as the company advances its key exploration assets.

The most recent analyst rating on (TSE:EQTY) stock is a Hold with a C$0.48 price target. To see the full list of analyst forecasts on Equity Metals stock, see the TSE:EQTY Stock Forecast page.

Equity Metals Mobilizes Winter Drilling at Silver Queen and Advances Targeting at Arlington

Equity Metals has mobilized crews and a drill rig to launch a 16‑hole, 4,200‑metre winter 2026 drilling campaign on its Silver Queen silver‑gold property in northern British Columbia, aimed at testing portions of the current resource model, twinning historical holes to validate past results and collecting new material from the No. 3 vein for metallurgical test work to further de‑risk the project ahead of an economic assessment. Beyond the initial phase, the company is planning a larger 2026 program at Silver Queen that will include relogging and sampling historical core, re‑establishing underground access via the Earl Adit for lidar scanning and re‑sampling, and drilling newly defined greenfields targets, while at its Arlington property it has reported 2025 drill results that confirm gold‑bearing quartz veins associated with a granodiorite intrusion and has outlined a 2026 surface mapping and sampling campaign to refine targets such as North Fresh Pots, Rona and Arlington for future drilling, underscoring a dual focus on resource de‑risking and pipeline target development.

The most recent analyst rating on (TSE:EQTY) stock is a Hold with a C$0.52 price target. To see the full list of analyst forecasts on Equity Metals stock, see the TSE:EQTY Stock Forecast page.

Equity Metals Raises $4.6 Million and Secures Full Ownership of Arlington Property

Equity Metals Corporation has closed a non-brokered charity/premium flow-through private placement, raising $4.6 million through the issuance of 20 million flow-through units priced at $0.23, each comprising one flow-through share and half a non-flow-through warrant exercisable at $0.40 for three years. The company intends to use the proceeds to continue exploration and resource expansion at its flagship Silver Queen gold-silver-zinc vein project and to fund surface work and drilling on the Arlington gold-silver property, while also confirming it has completed the final option payment to secure a 100% ownership interest in the Arlington property, subject to a vendor royalty. The financing, which includes cash finders’ fees and finder warrants, strengthens Equity Metals’ exploration budget and consolidates its portfolio in British Columbia, potentially enhancing its long-term resource base and positioning within the regional precious metals exploration sector, pending customary TSX Venture Exchange acceptance.

The most recent analyst rating on (TSE:EQTY) stock is a Buy with a C$0.39 price target. To see the full list of analyst forecasts on Equity Metals stock, see the TSE:EQTY Stock Forecast page.

Equity Metals Extends Mineralization at Silver Queen Project

Equity Metals Corporation announced the extension of mineralization in the No. 3 Vein at its Silver Queen project, with significant assay results from its 2025 drill program. The drilling has successfully expanded the mineralization both laterally and to greater depths, enhancing the continuity and potential resource of the project. The results are expected to be incorporated into a revised exploration and resource model, with a Mineral Resource update anticipated in early 2026. This development could provide strategic advantages for future mining operations, given the proximity of the new mineralization to historical mine workings.

The most recent analyst rating on (TSE:EQTY) stock is a Buy with a C$0.39 price target. To see the full list of analyst forecasts on Equity Metals stock, see the TSE:EQTY Stock Forecast page.

Equity Metals Announces $4.6M Private Placement for Exploration Expansion

Equity Metals Corporation has announced a non-brokered flow-through private placement to raise $4.6 million, which will be used for exploration and resource expansion at the Silver Queen and Arlington projects. The company has completed its summer drilling program at the Silver Queen project, extending the No 3 Vein and preparing for a resource update in early 2026, highlighting its ongoing commitment to expanding its mineral resources.

The most recent analyst rating on (TSE:EQTY) stock is a Buy with a C$0.39 price target. To see the full list of analyst forecasts on Equity Metals stock, see the TSE:EQTY Stock Forecast page.