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FPX Nickel
(FPX)
Select Model
Select Model
Rating:46Neutral
Price Target:
C$0.34
▼(-29.58% Downside)
Action:Reiterated
Date:07/09/26
The score is held down primarily by the pre-revenue model with widening losses and sustained cash burn, which outweigh the benefit of a conservatively levered balance sheet. Weak technical momentum (price below major moving averages and negative MACD) further pressures the outlook, while negative earnings (negative P/E) and no dividend provide limited valuation support.
Positive Factors
Conservative balance sheet
Extremely low leverage materially reduces financial risk and preserves strategic optionality. Over a multi-month horizon this conservatism helps the company access project financing or equity on better terms, supports continued exploration spending, and lowers probability of distress.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow increases dependency on external financing. Over several months this elevates dilution or funding-risk, may constrain project timelines, and forces management to prioritize capital raises over development milestones unless cash burn is reduced.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage materially reduces financial risk and preserves strategic optionality. Over a multi-month horizon this conservatism helps the company access project financing or equity on better terms, supports continued exploration spending, and lowers probability of distress.
Read all positive factors
FPX Nickel (FPX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$110.47M
Dividend YieldN/A
Average Volume (3M)175.93K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue GrowthN/A
EPS Growth-71.88%
CountryCA
Employees6
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding315,632,100
10 Day Avg. Volume198,501
30 Day Avg. Volume175,925
Financial Highlights & Ratios
PEG Ratio-0.38
Price to Book (P/B)2.46
Price to Sales (P/S)0.00
P/FCF Ratio-46.17
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)-0.06
Revenue Forecast (FY)C$1.03B
FPX Nickel Business Overview & Revenue Model
Company Description
FPX Nickel Corp. operates as a junior mining company focused on nickel, engaging in the acquisition, exploration, and advancement of mineral properties. Its primary objective is to explore for awaruite, a nickel-iron alloy. The company's key asset...
How the Company Makes Money
null...
FPX Nickel Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -261.77K | -263.96K | -250.71K | -139.00K | -88.08K | -50.69K |
| EBITDA | -5.28M | -4.89M | -2.52M | -4.27M | -3.61M | -3.75M |
| Net Income | -5.20M | -5.06M | -2.71M | -4.34M | -3.64M | -3.84M |
Balance Sheet | ||||||
| Total Assets | 71.04M | 72.68M | 77.27M | 59.89M | 42.27M | 30.46M |
| Cash, Cash Equivalents and Short-Term Investments | 13.38M | 16.23M | 34.07M | 28.92M | 18.02M | 14.54M |
| Total Debt | 74.79K | 133.43K | 209.26K | 269.44K | 154.07K | 237.71K |
| Total Liabilities | 3.13M | 4.20M | 4.21M | 2.33M | 718.43K | 690.88K |
| Stockholders Equity | 66.13M | 66.67M | 71.64M | 56.06M | 39.94M | 29.77M |
Cash Flow | ||||||
| Free Cash Flow | -5.30M | -3.55M | -1.88M | -2.17M | -10.54M | -6.43M |
| Operating Cash Flow | -3.78M | -3.55M | -1.88M | -1.97M | -3.22M | -1.66M |
| Investing Cash Flow | -12.82M | -14.11M | -11.23M | -6.39M | -7.34M | -4.77M |
| Financing Cash Flow | -96.11K | -177.29K | 18.26M | 19.27M | 14.04M | 15.13M |
FPX Nickel Technical Analysis
Negative
0.48
Price Trends
0.44
Negative
0.46
Negative
0.47
Negative
Market Momentum
-0.03
Negative
38.80
Neutral
20.51
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 0.48 is above the 20-day moving average (MA) of 0.37, above the 50-day MA of 0.44, and above the 200-day MA of 0.47, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 38.80 is Neutral, neither overbought nor oversold. The STOCH value of 20.51 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
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% | |
49 Neutral | C$110.03M | -7.83 | -4.51% | ― | ― | -27.78% | |
46 Neutral | C$110.47M | -20.61 | -7.68% | ― | ― | -71.88% | |
44 Neutral | C$14.43M | -1.48 | -61.55% | ― | 178.01% | -15.17% | |
44 Neutral | C$123.94M | -5.85 | -331.25% | ― | ― | 67.22% | |
42 Neutral | C$158.37M | -22.15 | 177.66% | ― | 267.61% | -5.23% | |
42 Neutral | C$277.23M | -9.33 | -262.67% | ― | ― | -10.11% |
* Basic Materials Sector Average
TSE:FPX
FPX Nickel
0.34
0.08
30.77%
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0.70
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FPX Nickel Corporate Events
Business Operations and Strategy
FPX Nickel Expands Control in Renewed Global Exploration Alliance with JOGMEC
Positive
Apr 14, 2026
FPX Nickel has renewed its Global Generative Exploration Alliance with Japan Organization for Metals and Energy Security, allocating a US$1.2 million budget for the program’s fourth year through March 2027. Under the revised structure, FPX n...
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.