Fathom Nickel (TSE:FNI)
:FNI
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Fathom Nickel
(FNI)
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Rating:53Neutral
Price Target:
C$0.05
▲(130.00% Upside)
Action:ReiteratedDate:01/23/26
The score is held back primarily by fundamentals: the company is pre-revenue with ongoing losses and negative free cash flow despite an improving loss trend. This is partially offset by a relatively strong balance sheet with minimal debt and a positive technical setup with price trading above key moving averages and supportive momentum indicators.
Positive Factors
Balance sheet strength
Minimal leverage and rising equity provide durable financial flexibility for an early-stage explorer. Low debt reduces refinancing risk and preserves the ability to fund staged drilling and permitting activities, improving the probability of advancing targets without distress financing.
Negative Factors
Pre-revenue model
Being pre-revenue is a persistent structural risk: without operating income the business must continually raise capital to fund exploration. Until commercial-scale resources or offtake are established, the company lacks a sustainable cash engine and remains dependent on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Minimal leverage and rising equity provide durable financial flexibility for an early-stage explorer. Low debt reduces refinancing risk and preserves the ability to fund staged drilling and permitting activities, improving the probability of advancing targets without distress financing.
Read all positive factors
Fathom Nickel (FNI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$8.05M
Dividend YieldN/A
Average Volume (3M)203.37K
Price to Earnings (P/E)―
Beta (1Y)-0.62
Revenue GrowthN/A
EPS Growth50.00%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding201,336,690
10 Day Avg. Volume450,787
30 Day Avg. Volume203,372
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.23
Price to Sales (P/S)0.00
P/FCF Ratio-4.60
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
Fathom Nickel Business Overview & Revenue Model
Company Description
Fathom Nickel Inc., a resource exploration and development company, engages in identifying, acquiring, and exploring the base and precious metals for use in electric vehicle and battery markets. Its flagship project is the Albert Lake Project, whi...
How the Company Makes Money
Fathom Nickel makes money through its exploration and development activities, aiming to identify and extract valuable nickel resources. The company generates revenue by selling the extracted nickel ore to refineries and other industrial buyers. Ad...
Fathom Nickel Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
63
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -3.92K | -4.10K | -29.60K | -47.93K | -4.67K | 0.00 |
| EBITDA | -882.16K | -852.10K | -1.26M | -1.08M | -2.08M | -22.16K |
| Net Income | -905.74K | -1.00M | -2.05M | -1.15M | -4.76M | -31.23K |
Balance Sheet | ||||||
| Total Assets | 19.18M | 18.81M | 18.30M | 14.17M | 14.39M | 1.52M |
| Cash, Cash Equivalents and Short-Term Investments | 126.20K | 314.97K | 3.75M | 2.96M | 8.09M | 9.27K |
| Total Debt | 0.00 | 0.00 | 0.00 | 269.55K | 273.56K | 0.00 |
| Total Liabilities | 163.50K | 618.98K | 698.72K | 661.63K | 1.51M | 37.70K |
| Stockholders Equity | 19.02M | 18.19M | 17.61M | 13.50M | 12.88M | 1.48M |
Cash Flow | ||||||
| Free Cash Flow | -1.27M | -905.76K | -1.99M | -6.67M | -6.20M | -164.80K |
| Operating Cash Flow | -1.24M | -903.71K | -1.99M | -1.91M | -2.16M | -80.19K |
| Investing Cash Flow | -666.79K | -3.52M | -3.73M | -4.72M | -3.95M | -64.22K |
| Financing Cash Flow | 1.77M | 1.45M | 6.06M | 1.49M | 14.19M | 66.47K |
Fathom Nickel Technical Analysis
Neutral
0.02
Price Trends
0.04
Negative
0.04
Positive
0.03
Positive
Market Momentum
>-0.01
Positive
47.25
Neutral
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FNI, the sentiment is Neutral. The current price of 0.02 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:FNI.
Fathom Nickel 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% | |
56 Neutral | C$15.80M | -38.17 | -1.16% | ― | 2.42% | 85.00% | |
53 Neutral | C$8.05M | -6.51 | -4.80% | ― | ― | 50.00% | |
53 Neutral | C$4.56M | -6.39 | -166.29% | ― | ― | -1500.15% | |
46 Neutral | C$11.91M | -1.93 | -219.86% | ― | ― | 53.47% | |
45 Neutral | C$6.33M | -8.31 | 16.97% | ― | ― | 14.29% | |
43 Neutral | C$5.80M | -5.64 | -58.31% | ― | ― | 4.17% |
* Basic Materials Sector Average
TSE:FNI
Fathom Nickel
0.04
0.02
60.00%
TSE:FCI
Green Battery Minerals Inc
0.36
0.26
260.00%
TSE:NNX
Nickel North Exploration
0.06
0.04
200.00%
TSE:PE
Pure Energy Minerals
0.47
0.25
111.36%
TSE:CELL
Grid Battery Metals
0.03
0.00
0.00%
TSE:QNI
Quebec Nickel Corp
0.26
0.17
188.89%
Fathom Nickel Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Fathom Nickel Upsizes Financing to C$3.75 Million and Launches Major Gochager Lake Drill Program
Positive
Jan 29, 2026
Fathom Nickel has increased the size of its previously announced non-brokered private placement to C$3.75 million, reflecting strong investor demand, with Crescat Capital committing to at least 10% as a strategic investor. The company plans a 3,00...
Business Operations and StrategyPrivate Placements and Financing
Fathom Nickel Launches C$3 Million Private Placement Backed by Crescat Capital
Positive
Jan 22, 2026
Fathom Nickel Inc. plans to raise up to C$3 million through a best efforts, non-brokered private placement of charity flow-through units priced at C$0.048 and hard dollar units priced at C$0.031, with Crescat Capital LLC committing to take up to 2...
Business Operations and Strategy
Fathom Nickel Commences Winter Trail Access to Gochager Lake Project
Positive
Dec 10, 2025
Fathom Nickel Inc. has announced the commencement of winter trail access to its Gochager Lake project, which will facilitate the transportation of drilling equipment by mid-February 2026. This development is expected to reduce exploration costs si...
Business Operations and Strategy
Fathom Nickel Expands Geochemical Footprint at Gochager Lake
Positive
Nov 3, 2025
Fathom Nickel Inc. announced promising preliminary results from its 2025 soil geochemistry program at the Gochager Lake project, revealing an expanded geochemical footprint over a strike length of more than 8.6 kilometers. This development support...
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.