FPX Nickel (FPX) AI Stock Analysis

• Market Cap: C$74.03M
• Dividend Yield: N/A
• Average Volume (3M): 56.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.31
• Revenue Growth: N/A
• EPS Growth: 48.82%
• Country: CA
• Employees: 6
• Sector: Basic Materials
• Sector Strength: 64
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 315,040,100
• 10 Day Avg. Volume: 50,751
• 30 Day Avg. Volume: 56,690
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): -19.50
• 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

FPX Nickel faces substantial financial challenges with no revenue and reliance on external funding, leading to a low financial performance score. The recent positive corporate developments in the form of a promising scoping study for a nickel refinery provide a potential future upside but are not yet reflected in the financials. The technical indicators are neutral, and the valuation remains unattractive, resulting in a low overall stock score.

FPX Nickel Business Overview & Revenue Model

Company Description

FPX Nickel Corp. is a Canadian mineral exploration company engaged in the development of its key nickel properties. The company focuses on its flagship project, the Decar Nickel District, located in central British Columbia. FPX Nickel is involved in the exploration and development of nickel deposits, aiming to establish itself as a significant player in the nickel industry, which is crucial for stainless steel production and the growing electric vehicle (EV) market.

How the Company Makes Money

FPX Nickel makes money primarily through the exploration and potential development of nickel resources. The company aims to advance its mineral projects to stages where they can be sold, leased, or partnered with major mining companies for further development and production. Revenue streams may include the sale of mineral rights or production royalties once the mines are operational. Additionally, FPX Nickel might secure funding through strategic partnerships with other mining firms looking to invest in nickel resources. The company's earnings are significantly influenced by nickel market prices, exploration success, and the ability to attract investment partners to fund ongoing development activities.

FPX Nickel Financial Statement Overview

Summary

FPX Nickel faces financial challenges with zero revenue, leading to consistent losses and negative cash flows. While the company has a strong equity base, its reliance on external financing poses risks if production does not commence to generate revenue.

Income Statement

The company consistently reports zero revenue, leading to negative gross profit and net income. With no revenue growth, EBIT and EBITDA margins are also negative, reflecting ongoing losses and financial pressure typical in early-stage mining operations without active production.

Balance Sheet

FPX Nickel maintains a strong equity position with a high equity ratio, indicating solid capitalization. However, the company incurs significant debt, and the lack of revenue raises concerns about long-term sustainability despite the current low debt-to-equity ratio.

Cash Flow

Negative operating and free cash flows indicate cash outflows exceeding inflows, typical for non-revenue generating mining companies. Financing cash flow is positive, suggesting reliance on external funding, which could be risky if not managed carefully.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-250.71K	-138.98K	-88.08K	-50.69K	-32.00K	-32.22K
	EBIT
-3.37M	-5.67M	-3.69M	-3.83M	-1.33M	-1.03M
	EBITDA
-2.52M	-4.27M	-3.61M	-3.75M	-1.28M	-741.92K
	Net Income Common Stockholders
-2.71M	-4.34M	-3.64M	-3.87M	-2.31M	-1.72M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.93M	28.92M	18.02M	14.54M	5.84M	1.73M
	Total Assets
3.89M	59.89M	42.27M	30.46M	16.32M	11.53M
	Total Debt
0.00	269.44K	154.07K	237.71K	3.43M	8.01M
	Net Debt
-1.93M	-28.65M	-17.86M	-14.30M	-2.41M	6.28M
	Total Liabilities
46.27K	2.33M	718.43K	690.88K	3.65M	8.22M
	Stockholders Equity
3.84M	56.06M	39.94M	29.77M	12.68M	3.31M
Cash Flow		Free Cash Flow
-3.56M	-2.17M	-10.54M	-6.43M	-1.39M	-1.03M
	Operating Cash Flow
-1.88M	-1.97M	-3.22M	-1.66M	-659.66K	-697.69K
	Investing Cash Flow
-11.23M	-6.39M	-7.34M	-4.77M	-749.66K	-335.73K
	Financing Cash Flow
18.26M	19.27M	14.04M	15.13M	5.52M	1.31M

FPX Nickel Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FPX, the sentiment is Negative. The current price of 0.22 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.24, and below the 200-day MA of 0.27, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.73 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FPX.

FPX Nickel Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MN	50 Neutral	C$12.37M	―	-75.82%	―	―	48.31%
PGE	48 Neutral	C$38.43M	―	-79.38%	―	―	34.27%
Sector *	47 Neutral	$2.64B	-3.21	-21.68%	3.30%	4.19%	-30.23%
NOB	41 Neutral	C$13.05M	―	-15.16%	―	―	-9.80%
FPX	37 Underperform	C$74.03M	―	-4.25%	―	―	48.82%

FPX Nickel Corporate Events

FPX Nickel Unveils Scoping Study for Major Nickel Sulphate Refinery

FPX Nickel Corp. has published a scoping study for a proposed standalone refinery to produce battery-grade nickel sulphate for the electric vehicle industry, with additional by-products like cobalt, copper, and ammonium sulphate. The study highlights strong economic potential with a 40-year operational life, low-cost production, and low carbon intensity, positioning FPX Nickel as a key player in the sustainable EV battery supply chain.

FPX Nickel Unveils Scoping Study for Low-Cost, Low-Carbon Nickel Sulphate Refinery

FPX Nickel Corp. has announced a Scoping Study for a new standalone refinery aimed at producing battery-grade nickel sulphate from awaruite concentrate, primarily for the electric vehicle industry. The study highlights the project’s strong economic potential, with an after-tax NPV of $445 million and a 20% IRR, alongside a 40-year operational lifespan. The refinery is expected to produce 32,000 tonnes per annum of nickel, with low operating costs and carbon intensity, positioning it competitively within the global market.

FPX Nickel Prepares for 2025 Developments in Baptiste Nickel Project

FPX Nickel has announced plans for the Baptiste Nickel Project in 2025, which include advancing engineering studies, collecting environmental data, and engaging with First Nations and governmental bodies to prepare for the environmental assessment process later that year. The project is recognized by British Columbia’s new Critical Minerals Office, which provides support and resources to facilitate project readiness and stakeholder agreements, underscoring its strategic importance in the critical minerals sector.

FPX Nickel Unveils Economic Impact Study Results for Baptiste Project

FPX Nickel Corp. has released the results of an Economic Impact Study for its Baptiste Nickel Project, which outlines the potential economic benefits on regional, provincial, and national levels. Conducted by Mansfield Consulting Inc., the study evaluates the economic impacts and employment opportunities the project could generate, based on findings from a prior Pre-Feasibility Study.