Frontier Lithium (FL) AI Stock Analysis

• Market Cap: C$219.04M
• Dividend Yield: N/A
• Average Volume (3M): 188.45K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.76
• Revenue Growth: N/A
• EPS Growth: 34.36%
• Country: CA
• Employees: 19
• Sector: General
• Sector Strength: N/A
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 230,567,050
• 10 Day Avg. Volume: 182,084
• 30 Day Avg. Volume: 188,447
• PEG Ratio: 0.30
• Price to Book (P/B): -27.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.96
• 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: C$2.50
• Price Target Upside: 163.16% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: C$0.96 ▲(0.53% Upside)

The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, significant cash burn, and negative equity). Technicals are a key offset with strong momentum (price above major moving averages and positive MACD), though overbought readings temper the technical score. Valuation provides limited support given a negative P/E and no dividend.

Positive Factors

Strategic upstream lithium focus

Frontier’s core strategy targets upstream lithium (spodumene pegmatite) development, aligning the business with durable EV and energy-storage demand. Owning and advancing ore-stage projects positions the company to capture upstream value as battery supply chains expand over the coming years.

Sizable tangible asset base

A tangible asset base (~$28.4M TTM) provides development-stage collateral and optionality: assets can support project advancement, secure project financing, or be monetized to fund exploration. This asset scale is a durable underpinning for longer-term value creation in mining development.

Improving operating loss trend

Year-over-year improvement in net losses and reduced cash burn indicates operational discipline and execution progress. Sustained improvement can extend runway, reduce near-term financing pressure, and demonstrates management capability to tighten spending during development phases.

Negative Factors

Pre-revenue operations

Being pre-revenue means Frontier cannot self-fund development from operations and relies on external capital to advance projects. This structural dependency elevates execution and financing risk and lengthens the timeline before the business can generate sustainable, internally funded cash flows.

Negative shareholders' equity

Negative equity and rising debt materially weaken the balance sheet, reducing financial flexibility and increasing reliance on new financing. Persistent negative equity can constrain borrowing capacity, raise funding costs, and increase the likelihood of dilutive capital raises to sustain development.

Sustained high cash burn

Significant negative operating and free cash flow requires ongoing external funding to continue operations and project work. Continued cash burn without revenue increases the risk of funding shortfalls, potential project delays, and shareholder dilution from future equity or debt financings.

Frontier Lithium Business Overview & Revenue Model

Company Description

Frontier Lithium Inc. engages in the acquisition, exploration, and development of mining properties in North America. Its flagship property includes the PAK Lithium project, which covers approximately 27,069 hectares comprising two mining leases and 1,368 contiguous mining claims located in northwestern Ontario, Canada. The company was formerly known as Houston Lake Mining Inc. and changed its name to Frontier Lithium Inc. in May 19, 2016. Frontier Lithium Inc. was incorporated in 1995 and is based in Val Caron, Canada.

How the Company Makes Money

Frontier Lithium generates revenue primarily through the exploration, development, and eventual sale of lithium resources extracted from its mining operations. The company's key revenue streams are expected to include the sale of lithium concentrate and lithium chemical products, which are essential for the manufacturing of batteries used in electric vehicles, consumer electronics, and energy storage systems. Significant factors contributing to Frontier Lithium's earnings include strategic partnerships with industry players for the development and commercialization of lithium projects, as well as favorable market conditions driven by the global shift towards renewable energy and electric transportation. The company also benefits from its focus on high-quality, high-purity lithium resources, which are in high demand for premium applications.

Frontier Lithium Financial Statement Overview

Summary

Very weak fundamentals for a development-stage company: zero revenue, ongoing operating losses, and sustained negative operating/free cash flow. The balance sheet is a major risk with stockholders’ equity turning and remaining negative, despite some improvement in losses and cash burn versus the prior annual period.

Income Statement

The company remains pre-revenue (revenue is 0 across all periods), with persistent operating losses. Losses have improved versus the prior annual period (net loss of about -$13.6M in TTM (Trailing-Twelve-Months) vs. -$19.0M in FY2025), but profitability is still deeply negative with negative gross profit and sizable EBIT/EBITDA losses—consistent with an early-stage/lithium development profile.

Balance Sheet

Balance sheet strength has deteriorated materially: stockholders’ equity flipped from positive (~$14.2M in FY2024) to negative in FY2025 (~-$5.1M) and remains negative in TTM (Trailing-Twelve-Months) (~-$8.4M). Total debt rose to ~ $5.6M (TTM), and negative equity increases financial risk and reduces flexibility even though total assets remain sizable (~$28.4M TTM).

Cash Flow

Cash burn is significant and ongoing: operating cash flow is negative in all periods and was ~-$11.6M in TTM (Trailing-Twelve-Months), with free cash flow even more negative at ~-$15.3M. While cash burn improved versus FY2025 (operating cash flow ~-$19.0M; free cash flow ~-$22.9M), free cash flow still declined year over year in TTM (Trailing-Twelve-Months) (negative growth), highlighting continued funding needs.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-807.00K	-652.00K	-406.00K	-14.19M	-4.26M	-77.97K
EBITDA	-13.11M	-19.70M	-24.10M	-23.87M	-11.27M	-8.23M
Net Income	-13.59M	-18.96M	-24.53M	-24.23M	-10.95M	-6.66M
Balance Sheet
Total Assets	28.42M	32.93M	21.71M	35.20M	24.63M	25.14M
Cash, Cash Equivalents and Short-Term Investments	14.95M	17.36M	12.07M	27.37M	17.69M	10.32M
Total Debt	5.56M	5.51M	66.00K	120.00K	108.00K	71.79K
Total Liabilities	36.14M	37.09M	7.55M	1.96M	1.31M	1.38M
Stockholders Equity	-8.41M	-5.06M	14.16M	33.24M	23.32M	23.75M
Cash Flow
Free Cash Flow	-15.27M	-22.94M	-15.71M	-17.82M	-11.49M	-2.71M
Operating Cash Flow	-11.58M	-19.03M	-14.29M	-17.35M	-7.34M	-1.04M
Investing Cash Flow	-3.69M	-3.89M	-1.43M	-365.00K	-4.15M	-1.51M
Financing Cash Flow	4.69M	28.23M	915.00K	27.40M	18.83M	12.29M

Frontier Lithium Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.95
• 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:FL, the sentiment is Positive. The current price of 0.95 is below the 20-day moving average (MA) of 1.00, above the 50-day MA of 0.82, and above the 200-day MA of 0.63, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 51.56 is Neutral, neither overbought nor oversold. The STOCH value of 20.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FL.

Frontier Lithium Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LITH	56 Neutral	C$127.24M	-247.83	-0.96%	―	―	-107.23%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
LI	53 Neutral	C$204.20M	-20.78	-7.81%	―	―	59.70%
FL	51 Neutral	C$219.04M	-15.94	-144.30%	―	―	34.36%
LTH	51 Neutral	C$198.97M	-56.91	-53.32%	―	―	93.58%
RCK	48 Neutral	C$132.63M	-10.29	-34.52%	―	―	36.48%
LBNK	42 Neutral	C$29.50M	-3.05	-122.87%	―	―	-692.49%

Frontier Lithium Corporate Events

Frontier Lithium Advances Road and Power Infrastructure for PAK Project with Federal Support

Frontier Lithium has provided an update on critical infrastructure work supported by Natural Resources Canada’s Critical Minerals Infrastructure Fund for its PAK Lithium Project in northwestern Ontario, where it has secured up to approximately $6.1 million in non‑repayable funding for an all-season access road and a clean energy power connection. The company has already invested more than $3 million in 2024 and 2025 and expects to allocate a further $8.9 million by 2028 toward engineering, environmental studies, permitting and Indigenous engagement for the all-season Junction Road and the PAK Clean Energy Project, both of which are deemed vital to moving the high-grade lithium deposit toward production and strengthening Canada’s domestic critical minerals supply chain. Frontier plans to complete consultation, route selection and remaining engineering and permitting for the road in 2026 to enable construction as early as 2027, while simultaneously advancing technical, environmental and geotechnical work for the grid connection in conjunction with Ontario’s planned power line expansion to Red Lake, underscoring the projects’ strategic importance for regional development, local and Indigenous communities, and North American EV and energy storage markets.

The most recent analyst rating on (TSE:FL) stock is a Hold with a C$0.91 price target. To see the full list of analyst forecasts on Frontier Lithium stock, see the TSE:FL Stock Forecast page.

Frontier Lithium Strikes Indigenous Process Agreements to Advance Permitting Under Ontario’s One Project, One Process Framework

Frontier Lithium has signed process agreements with Deer Lake First Nation and Sandy Lake First Nation to guide permitting and engagement for its proposed all-season road access, mine and mill development under Ontario’s One Project, One Process framework. The agreements formalize early Indigenous involvement, information sharing and environmental stewardship measures, positioning Frontier to advance approvals more efficiently while aligning provincial regulatory requirements with Anishinninew laws and protocols, reinforcing its relationships with local communities and supporting Ontario’s broader push to accelerate critical mineral projects for the clean economy.

The most recent analyst rating on (TSE:FL) stock is a Hold with a C$0.95 price target. To see the full list of analyst forecasts on Frontier Lithium stock, see the TSE:FL Stock Forecast page.

Frontier Lithium Advances PAK Project with Strong Financials and Strategic Developments

Frontier Lithium has announced its financial results for the six months ending September 30, 2025, highlighting its strong liquidity position with $14.9 million in cash and cash equivalents. The company continues to advance its PAK Lithium Project, with significant developments including the publication of a Mine and Mill Feasibility Study and the initiation of a Lithium Conversion Facility Feasibility Study. The project is expected to have a transformative economic impact, contributing significantly to the regional economy and supporting Canada’s Critical Minerals Strategy. Additionally, Frontier Lithium has been selected for Ontario’s One Project, One Process Framework Guidance initiative, which aims to streamline permitting processes.

The most recent analyst rating on (TSE:FL) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Frontier Lithium stock, see the TSE:FL Stock Forecast page.

Frontier Lithium’s PAK Project Promises Economic Growth and Job Creation

Frontier Lithium has released a socioeconomic impact study for its PAK Lithium Project, highlighting its potential to drive economic growth and employment in Northwestern Ontario. The project is expected to significantly boost GDP, create numerous jobs, and support local businesses, aligning with Canada’s critical minerals strategies and enhancing the national battery supply chain.

The most recent analyst rating on (TSE:FL) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Frontier Lithium stock, see the TSE:FL Stock Forecast page.