EV Nickel, Inc. (EVNI) AI Stock Analysis

• Market Cap: C$25.58M
• Dividend Yield: N/A
• Average Volume (3M): 28.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.05
• Revenue Growth: N/A
• EPS Growth: 21.31%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 111,219,460
• 10 Day Avg. Volume: 25,867
• 30 Day Avg. Volume: 28,345
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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$0.22 ▲(0.91% Upside)

The score is held down primarily by the company’s pre-revenue profile, recurring losses, and ongoing cash burn, which increase reliance on external funding. A debt-free balance sheet and improved equity provide some financial resilience, while technical signals are mixed-to-neutral and valuation is constrained by negative earnings and no indicated dividend yield.

Positive Factors

Debt-free balance sheet

Maintaining zero debt materially reduces insolvency and interest obligations, giving management flexibility to time equity raises or allocate capital to project development. Over 2–6 months this durable capital structure lowers default risk and preserves runway versus leveraged peers.

Recapitalized equity base

A move from negative to roughly $4.6M in equity signals successful recapitalization and provides a tangible cushion for near-term operations. This stronger capital base reduces immediate insolvency risk and supports funding of development activities without immediate collapse of the balance sheet.

Narrowing net loss trend

A smaller TTM net loss versus the most recent annual period suggests improving expense control or operational progress toward breakeven. If sustained, this structural improvement eases future financing needs and enhances long-term viability even while commercial revenue is still absent.

Negative Factors

Pre-revenue profile

Having no revenue and repeated negative gross profit leaves business economics unproven; durable profitability depends on successful commercialization. This structural uncertainty raises execution risk and makes future margin sustainability speculative until product-market fit is demonstrated.

Persistent cash burn

Consistent negative OCF and FCF indicate the company is consuming capital to fund operations. Over a multi-month horizon this continued burn will deplete the equity cushion, necessitating external financing and increasing dilution risk if revenue generation does not materialize.

Reliance on external funding

Structural dependence on raising capital constrains strategic flexibility and ties operational continuity to market access. If funding conditions tighten, the company may have to curtail programs or accept dilutive terms, impairing long-term project development and shareholder value.

EV Nickel, Inc. Business Overview & Revenue Model

Company Description

EV Nickel Inc., a mineral exploration company, engages in the acquisition, evaluation, and exploration for mineral properties in Canada. It holds interests in the Langmuir nickel project that comprises 212 claims located in Timmins, Ontario; and the Shaw Dome project, which includes 942 mining claims covering approximately 21,000 hectares located to the southeast of Timmins, Ontario. The company was incorporated in 2021 and is headquartered in Toronto, Canada.

How the Company Makes Money

EV Nickel, Inc. generates revenue primarily through the exploration, development, and eventual sale of nickel deposits. The company's revenue model includes the discovery and development of nickel resources, which are then either sold to larger mining companies or directly to manufacturers in the electric vehicle and battery industries. Additionally, EV Nickel may engage in joint ventures or partnerships with other companies to co-develop mining projects, which can provide both capital investment and shared profits. Significant factors contributing to its earnings include the global demand for nickel, driven by the growth of the electric vehicle market, and the company's ability to efficiently develop and market its mining projects.

EV Nickel, Inc. Financial Statement Overview

Summary

EV Nickel, Inc. faces significant financial challenges with zero revenue, operational losses, and negative cash flows. Despite having no debt and a strong equity position, the lack of revenue and cash burn pose substantial risks. Securing financing has provided liquidity, but long-term sustainability depends on generating revenue.

Income Statement

The company has reported zero revenue consistently, indicating no sales activity, which is a significant concern. The negative gross profit and increasing net losses suggest operational inefficiencies and high expenses relative to revenue generation.

Balance Sheet

The company shows a strong equity position with no debt, which is a positive aspect. However, the consistently negative net income impacts the return on equity, and the equity ratio shows a declining trend, indicating potential financial stability issues.

Cash Flow

The operating and free cash flows are significantly negative, indicating cash burn, which can be a risk if not managed. However, the company has been able to secure financing, evident from positive financing cash flows, which is vital for sustaining 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	-11.78K	-16.58K	-23.97K	-27.87K	-13.67K	-351.00
EBITDA	-2.21M	-3.18M	-2.77M	-4.12M	-5.22M	-2.97M
Net Income	-2.57M	-3.15M	-2.79M	-4.15M	-5.23M	-2.97M
Balance Sheet
Total Assets	4.93M	2.70M	6.53M	478.35K	2.51M	1.67M
Cash, Cash Equivalents and Short-Term Investments	4.41M	2.28M	6.11M	142.75K	1.53M	1.37M
Total Debt	0.00	0.00	0.00	3.63K	10.10K	0.00
Total Liabilities	343.46K	675.21K	1.79M	1.11M	1.52M	191.45K
Stockholders Equity	4.58M	2.02M	4.74M	-634.65K	998.75K	1.48M
Cash Flow
Free Cash Flow	-3.73M	-4.25M	-2.92M	-4.30M	-4.07M	-646.26K
Operating Cash Flow	-3.73M	-4.25M	-2.92M	-4.30M	-4.03M	-621.02K
Investing Cash Flow	1.73M	3.22M	-5.05M	0.00	-42.32K	-25.24K
Financing Cash Flow	2.99M	390.50K	8.81M	2.91M	4.22M	2.02M

EV Nickel, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.22
• 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:EVNI, the sentiment is Positive. The current price of 0.22 is above the 20-day moving average (MA) of 0.22, below the 50-day MA of 0.22, and above the 200-day MA of 0.22, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.25 is Neutral, neither overbought nor oversold. The STOCH value of 76.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EVNI.

EV Nickel, Inc. 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%
FNI	51 Neutral	C$8.05M	-7.41	-4.80%	―	―	50.00%
EVNI	47 Neutral	C$25.58M	-10.04	-58.79%	―	―	21.31%
TN	46 Neutral	C$47.16M	-58.06	-7.40%	―	―	74.27%
TGOL	45 Neutral	C$13.86M	-18.97	-6.33%	―	―	6.45%
ELEC	43 Neutral	C$18.00M	-2.53	-53.71%	―	2549.43%	17.73%
LFLR	42 Neutral	$33.20M	-4.04	-198.13%	―	―	―

EV Nickel, Inc. Corporate Events

EV Nickel Expands High-Grade Nickel Assets with New Langmuir Township Claim

EV Nickel Inc. has acquired an unpatented mining claim in Langmuir Township, covering the historic Langmuir South and Langmuir #2 nickel zones, which are known for high-grade nickel sulphides. This acquisition marks a significant advancement for the company’s Langmuir #2 Project, allowing them to explore and potentially expand the high-grade nickel mineralization. The company has applied for an exploration permit to conduct further drilling and anticipates receiving it by the end of 2025. This move is expected to enhance EV Nickel’s portfolio of high-quality nickel assets and strengthen its position in the critical minerals market, contributing to the North American supply chain for clean energy transition.

EV Nickel Unveils Promising Nickel Assay Results and Secures Financial Stability

EV Nickel Inc. announced positive assay results from its surface sampling program at the Gemini North Zone, part of the Shaw Dome Project. The samples revealed significant nickel mineralization, with two samples showing grades over 0.5% nickel, indicating potential for high-value deposits. This discovery enhances the company’s exploration prospects and positions it well within the nickel mining sector. Additionally, the company successfully raised nearly $3 million through the exercise of warrants, providing a strong financial buffer for future operations.