49 North Resources Inc (TSE:FNR)
:FNR
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49 North Resources
(FNR)
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Rating:51Neutral
Price Target:
C$0.04
▲(33.33% Upside)
Action:ReiteratedDate:01/24/26
The score is held back primarily by weak and volatile financial performance, especially multi-year negative operating/free cash flow and a steep 2024 revenue decline. Technicals are a relative positive with an uptrend and supportive momentum, but a high P/E of 70 and no dividend yield data limit the valuation score.
Positive Factors
Focused exploration portfolio
Concentrated mineral-exploration focus in Saskatchewan creates durable operational expertise and lower overhead versus multi-jurisdiction peers. Specialization accelerates project maturation, streamlines permitting familiarity, and improves appeal for joint ventures or farm-outs over multi‑year timelines.
Negative Factors
Persistent negative cash flow
Multi-year negative operating and free cash flow signals structural cash burn that undermines self-funding for exploration. Over time this raises reliance on equity issuance or debt, dilutes shareholders, and constrains the company's ability to sustain multi‑year project development without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused exploration portfolio
Concentrated mineral-exploration focus in Saskatchewan creates durable operational expertise and lower overhead versus multi-jurisdiction peers. Specialization accelerates project maturation, streamlines permitting familiarity, and improves appeal for joint ventures or farm-outs over multi‑year timelines.
Read all positive factors
49 North Resources (FNR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.99M
Dividend YieldN/A
Average Volume (3M)21.52K
Price to Earnings (P/E)1.4
Beta (1Y)0.59
Revenue Growth-82.82%
EPS GrowthN/A
CountryCA
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)<0.01
Shares Outstanding166,271,100
10 Day Avg. Volume13,100
30 Day Avg. Volume21,516
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.29
Price to Sales (P/S)21.32
P/FCF Ratio-34.17
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
49 North Resources Business Overview & Revenue Model
Company Description
49 North Resources Inc. is a venture capital firm specializing in seed capital and early stage investments. The firm typically invests in a diversified portfolio of common shares and other securities of resource issuers including all sectors of mi...
How the Company Makes Money
49 North Resources Inc. generates revenue primarily through the strategic acquisition, exploration, and development of mineral and energy properties. The company invests in a range of resource-based projects and earns money by realizing capital ga...
49 North Resources Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -1.52M | 117.00K | -1.44M | 769.00K | 641.00K | -4.46M |
| Gross Profit | -1.56M | 74.00K | -1.48M | 725.00K | 558.00K | -4.48M |
| EBITDA | -1.59M | 619.00K | -2.66M | -8.02M | -6.35M | 16.58M |
| Net Income | -1.71M | 477.00K | -2.82M | -8.19M | -6.59M | 16.03M |
Balance Sheet | ||||||
| Total Assets | 16.77M | 17.91M | 16.83M | 19.13M | 26.46M | 31.79M |
| Cash, Cash Equivalents and Short-Term Investments | 4.93M | 6.31M | 6.29M | 8.74M | 16.24M | 22.65M |
| Total Debt | 5.44M | 5.44M | 5.51M | 6.26M | 6.32M | 6.37M |
| Total Liabilities | 9.50M | 9.40M | 8.80M | 8.29M | 7.73M | 8.08M |
| Stockholders Equity | 7.27M | 8.50M | 8.03M | 10.84M | 18.73M | 23.71M |
Cash Flow | ||||||
| Free Cash Flow | -63.00K | -73.00K | -159.00K | -303.00K | -1.79M | -325.00K |
| Operating Cash Flow | -63.00K | -73.00K | -159.00K | -303.00K | -1.79M | -325.00K |
| Investing Cash Flow | 81.00K | 65.00K | 178.00K | 15.00K | 465.00K | 321.00K |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 1.61M | 0.00 |
49 North Resources Technical Analysis
Negative
0.03
Price Trends
0.04
Negative
0.03
Negative
0.03
Positive
Market Momentum
>-0.01
Positive
6.32
Positive
0.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FNR, the sentiment is Negative. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and above the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 6.32 is Positive, neither overbought nor oversold. The STOCH value of 0.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FNR.
49 North Resources Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | C$10.07M | 0.40 | 75.06% | ― | 486.23% | 478.94% | |
56 Neutral | C$4.82M | 1.63 | -735.40% | ― | 82.65% | -70.88% | |
53 Neutral | C$10.84M | -0.44 | -70.07% | ― | 53.55% | -289.42% | |
51 Neutral | C$4.99M | 1.36 | 1.09% | ― | -82.82% | ― | |
48 Neutral | C$4.68M | 9.47 | -45.81% | ― | 26.42% | -1217.14% | |
42 Neutral | C$3.44M | -0.72 | -226.11% | ― | 19.82% | -51.61% |
* Financial Sector Average
TSE:FNR
49 North Resources
0.03
<0.01
50.00%
TSE:AAB
Aberdeen International
0.03
0.00
0.00%
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Belgravia Capital International Inc
0.03
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-58.33%
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0.12
0.02
15.00%
TSE:QCA
Quinsam Capital
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25.00%
TSE:ZC
Zimtu Capital
0.59
0.43
259.76%
49 North Resources Corporate Events
Business Operations and StrategyExecutive/Board Changes
49 North Resources Grants 2.3 Million Incentive Stock Options
Neutral
Jan 27, 2026
49 North Resources Inc. has approved the grant of 2.3 million incentive stock options under its Stock Option Plan, with 1.2 million options allocated to directors and executive officers and the remainder to consultants. The options are exercisable...
Executive/Board Changes
49 North Resources Director Norman Betts Resigns from Board
Neutral
Jan 27, 2026
49 North Resources Inc. has announced the resignation of long-serving director Norman Betts, effective January 19, 2026, and expressed its appreciation for his contributions and wished him well in his future endeavours. The departure represents a ...
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.