Founders Metals (FDR) AI Stock Analysis

• Market Cap: C$429.51M
• Dividend Yield: N/A
• Average Volume (3M): 267.56K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.45
• Revenue Growth: N/A
• EPS Growth: 46.54%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 115,149,030
• 10 Day Avg. Volume: 248,798
• 30 Day Avg. Volume: 267,557
• PEG Ratio: 2.34
• Price to Book (P/B): 3.74
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -48.21
• 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$3.50 ▼(-18.60% Downside)

The score is held down mainly by lack of revenue, widening losses, and elevated cash burn, despite a debt-free, equity-funded balance sheet. Technicals also lean weak with the price below key moving averages and subdued momentum, while valuation inputs are not very informative due to negative earnings and no dividend data.

Positive Factors

Debt-free balance sheet

A debt-free capital structure materially lowers refinancing and liquidity risk for an exploration company. Over the next 2–6 months this durable advantage preserves flexibility to fund drilling and permitting from equity or cash reserves without mandatory interest burdens that could constrain operations.

Equity-funded capitalization

A large, equity-funded capital base reduces near-term solvency pressure and supports multi-year exploration programs. This structural funding profile enables sustained project advancement and reduces dependence on high-cost debt or immediate dilutive financings while programs are progressed.

Focused gold exploration strategy

A concentrated focus on gold exploration in a single jurisdiction concentrates technical expertise and permits targeted resource building. Over months this can translate into clearer project milestones, efficient capital allocation, and the potential for value-accretive discovery or farm-out partnerships if geology proves prospective.

Negative Factors

No revenue generation

Lack of operating revenue means the company relies entirely on financing for sustaining exploration and corporate overhead. This structural absence of cash inflows increases sensitivity to capital markets and heightens execution risk if funding windows tighten over the next several months.

High cash burn

Persistently negative operating and free cash flow indicate elevated cash consumption to fund exploration and G&A. Continued burn at this scale creates a durable financing requirement; failure to raise accretive capital or cut spend could force dilutive financings or program curtailment within months.

Negative returns on equity

A sustained negative ROE shows shareholder capital is not yet creating economic value, reflecting unsuccessful conversion of invested capital into profitable projects. Over a medium horizon this questions capital allocation effectiveness and could constrain investor support if exploration results do not improve returns.

Founders Metals Business Overview & Revenue Model

Company Description

Founders Metals Inc. engages in the acquisition, exploration, and development of gold properties in Canada. It holds interests in the Elmtree gold project that includes 49 contiguous mineral claims covering an area of 1,063,326 hectares located in New Brunswick; and the Antino gold project covering an area of 23,800 hectares located in southeastern Suriname. The company is headquartered in Vancouver, Canada.

How the Company Makes Money

Founders Metals generates revenue primarily through the sale of extracted metals such as gold, silver, and copper. The company identifies and develops mineral-rich properties, extracting valuable metals which are then sold to commodity markets, smelters, and refineries. Key revenue streams include the direct sale of extracted raw materials and potentially through joint ventures or partnerships with larger mining enterprises. Factors such as fluctuations in global metal prices, operational efficiency, and successful exploration activities significantly impact the company's earnings. Partnerships with technology providers and sustainable mining initiatives may also contribute to operational efficiencies and cost reductions, indirectly supporting revenue growth.

Founders Metals Financial Statement Overview

Summary

Weak operating fundamentals: no revenue, widening net losses (TTM ~-11.9M), and consistently negative operating/free cash flow with a large TTM free cash outflow (~-24.3M). The main offset is a strong, low-risk capital structure with zero debt and substantially higher equity (~150.2M), but returns remain negative (TTM ROE ~-11.6%).

Income Statement

Across the period (including TTM (Trailing-Twelve-Months)), the company reports no revenue and consistently posts operating and net losses, with losses widening materially versus earlier years (TTM net loss of ~-11.9M vs ~-0.5M in 2022). With no top-line base and persistently negative earnings, profitability and operating momentum remain weak, even though this may reflect an earlier-stage/exploration profile typical in gold.

Balance Sheet

The balance sheet is a relative strength: total debt is reported at 0 across all periods, and equity has increased substantially (from ~9.9M in 2022 to ~150.2M in TTM (Trailing-Twelve-Months)), supporting a larger asset base (~165.2M). The key drawback is ongoing negative returns on equity (TTM ~-11.6%), indicating shareholder capital is not yet generating profits despite the stronger capitalization.

Cash Flow

Cash generation is weak, with operating cash flow negative in every period and free cash flow consistently negative, including a very large outflow in TTM (Trailing-Twelve-Months) (~-24.3M). Free cash flow deterioration versus the latest annual period suggests higher cash burn, raising financing dependence risk if spending levels persist, even though low debt reduces near-term balance-sheet pressure.

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	0.00	0.00	0.00	0.00	0.00
EBITDA	-10.59M	0.00	-1.86M	-687.48K	-990.24K
Net Income	-10.59M	-7.74M	-1.86M	-485.77K	-901.26K
Balance Sheet
Total Assets	115.74M	35.13M	14.98M	9.89M	10.70M
Cash, Cash Equivalents and Short-Term Investments	25.75M	4.80M	2.03M	969.59K	3.29M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	7.52M	3.04M	889.77K	17.30K	367.18K
Stockholders Equity	102.01M	32.09M	14.09M	9.88M	10.33M
Cash Flow
Free Cash Flow	-7.92M	-3.99M	-1.38M	-952.85K	-1.39M
Operating Cash Flow	-5.38M	-3.17M	-781.47K	-952.85K	-681.44K
Investing Cash Flow	-36.51M	-13.88M	-3.07M	-1.37M	-704.09K
Financing Cash Flow	62.85M	19.82M	4.91M	-4.43K	4.68M

Founders Metals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FDR, the sentiment is Negative. The current price of 4.3 is below the 20-day moving average (MA) of 4.64, below the 50-day MA of 4.55, and above the 200-day MA of 4.11, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 28.80 is Positive, neither overbought nor oversold. The STOCH value of 8.66 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FDR.

Founders Metals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STGO	66 Neutral	C$510.71M	6.73	35.92%	―	104.75%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ITH	54 Neutral	C$921.49M	-121.99	-7.47%	―	―	-26.52%
GOLD	49 Neutral	C$451.02M	-27.60	-10.17%	―	―	37.78%
WRLG	48 Neutral	C$481.52M	-3.37	-143.63%	―	―	―
FDR	47 Neutral	C$429.51M	-31.61	―	―	―	46.54%

Founders Metals Corporate Events

Founders Metals Assembles 102,000-Hectare District-Scale Gold Position in Suriname

Founders Metals Inc. has consolidated a 102,360-hectare contiguous gold district in southeastern Suriname, becoming the largest publicly traded gold exploration company in the Guiana Shield by land area. The expansion combines a new 36,360-hectare exploration concession adjacent to its Antino Gold Project with the 10,000-hectare Okasi exploitation concession, giving the company control over a district-scale greenstone belt comparable in scale to major global gold camps and underlain by structures known to host multi-million-ounce deposits. The enlarged land package hosts multiple high-priority, largely untested targets aligned with the Central Guiana Shear Zone and secondary structures, supported by compelling historical anomalies and artisanal mining evidence. Founders has ramped up airborne geophysics, regional auger sampling, and upcoming LiDAR and imaging surveys across the entire district, while the 100%-owned Okasi exploitation concession provides near-term small-scale mining revenue potential, strengthening the company’s strategic position and optionality as it advances from exploration toward resource definition in Suriname.

The most recent analyst rating on (TSE:FDR) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Hits Best Lower Antino Drill Intercept, Underscoring Large-Scale Gold System in Suriname

Founders Metals reported its strongest drill result to date from the Lower Antino target at its Antino Gold Project in Suriname, with hole LA041 intersecting 90.0 metres grading 1.02 g/t gold, including a 1.0-metre interval at 28.44 g/t gold, confirming a large-scale, intrusion-hosted orogenic gold system. The new results, together with prior broad mineralized intervals and evidence of multiple sub-parallel gold zones over roughly 1.9 kilometres of strike and to 350 metres depth, underscore both the bulk-tonnage and high-grade potential of Lower Antino, which remains open in all directions and shows increasing widths to the south. Additional trenching and step-out drilling indicate significant room for expansion, while the presence of a thick saprolite/oxide layer averaging about 50 metres offers a meaningful near-surface oxide opportunity that could support lower-cost extraction and enhance the project’s economic appeal as drilling continues with three rigs in operation.

The most recent analyst rating on (TSE:FDR) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Hits Best Drill Intercept Yet at Lower Antino Gold Target in Suriname

Founders Metals reported its strongest drill result to date from the Lower Antino target at its Antino Gold Project in Suriname, with hole LA041 intersecting 90.0 metres grading 1.02 g/t gold, including a 1.0 metre interval at 28.44 g/t gold. The latest drilling confirms a large-scale, intrusion-hosted orogenic gold system comprising multiple broad, sub-parallel mineralized zones over roughly 1.9 kilometres of strike and to 350 metres depth, with mineralization remaining open in all directions and appearing to widen to the south. Trenching up to 800 metres south of current drilling and step-out holes with assays pending point to further expansion, while an average 50-metre-thick saprolite/oxide layer and the presence of localized high-grade shoots suggest a combination of near-surface, lower-cost extraction potential and higher-grade upside that could enhance the project’s future economic profile and reinforce Lower Antino as a significant complement to the high-grade Upper Antino area.

The most recent analyst rating on (TSE:FDR) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Reports Significant Gold Discoveries at Antino Project

Founders Metals Inc. has announced promising drill core assay results from its ongoing exploration at the Antino Gold Project in Suriname. The initial drilling at the Parbo target has revealed significant gold mineralization, with notable high-grade shear zones. Additionally, the Da Vinci and Maria Geralda targets have shown extended mineralization, indicating robust gold systems across the project area. These findings underscore the potential scale of the gold systems at Antino, with implications for advancing the company’s exploration strategy and enhancing its industry positioning.

The most recent analyst rating on (TSE:FDR) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Strengthens Board with New Appointment

Founders Metals has appointed Vijay Kirpalani as an independent director to its Board, bringing extensive experience in Suriname’s mining sector. This strategic addition aims to strengthen the company’s operations and enhance its value creation as it advances the Antino Project. Additionally, the company announced the departure of Kevin Vienneau from the Board and granted 250,000 stock options under its Stock Option Plan.

The most recent analyst rating on (TSE:FDR) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Expands Antino Gold Project with New Acquisition

Founders Metals Inc. has completed the acquisition of a 36,000-hectare exploration concession, expanding its Antino Gold Project area to 56,000 hectares. This acquisition allows the company to resume expansion drilling at Upper Antino, where recent assay results have extended gold mineralization to a strike length of over 2.5 kilometers. The company is in a strong financial position following a strategic investment and is actively exploring multiple targets, with promising results expected to enhance its industry positioning and stakeholder value.

The most recent analyst rating on (TSE:FDR) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.

Founders Metals Secures $50 Million Investment from Gold Fields

Founders Metals Inc. has successfully closed a $50 million strategic investment with Gold Fields Netherlands Services B.V., an affiliate of Gold Fields Limited. This investment will support the company’s Antino Gold Project in Suriname, focusing on land consolidation, exploration activities, and general corporate purposes. Gold Fields now holds a 10.55% stake in Founders Metals, with potential future increases in ownership. The agreement includes investor rights, technical collaboration, and board representation opportunities for Gold Fields, enhancing Founders Metals’ operational capabilities and strategic positioning in the gold exploration industry.

The most recent analyst rating on (TSE:FDR) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.