FPX Nickel (TSE:FPX)
:FPX
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FPX Nickel
(FPX)
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Rating:48Neutral
Price Target:
C$0.42
▼(-13.33% Downside)
Action:ReiteratedDate:03/28/26
The score is primarily constrained by weak financial performance (no revenue, widening losses, and ongoing cash burn) despite a relatively strong, low-debt balance sheet. Technicals also lean bearish with price below key moving averages, and valuation offers little support given negative earnings and no dividend.
Positive Factors
Low leverage / balance sheet strength
Extremely low leverage provides durable financial flexibility for a development-stage miner: it reduces fixed financing costs, preserves capacity to raise non-dilutive capital or debt on better terms, and limits bankruptcy risk while projects advance over months.
Negative Factors
Pre-revenue status
Lack of any operating revenue is a structural constraint: without sales the company cannot self-fund development, making long-term viability dependent on external financing or a definitive project de-risking event to generate cash inflows.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance sheet strength
Extremely low leverage provides durable financial flexibility for a development-stage miner: it reduces fixed financing costs, preserves capacity to raise non-dilutive capital or debt on better terms, and limits bankruptcy risk while projects advance over months.
Read all positive factors
FPX Nickel (FPX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$132.46M
Dividend YieldN/A
Average Volume (3M)175.93K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue GrowthN/A
EPS Growth-60.92%
CountryCA
Employees6
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding315,371,460
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., a junior nickel mining company, engages in the acquisition, exploration, and development of mineral properties. It primarily explores for awaruite, a nickel-iron alloy. Its flagship property is the 100% owned Decar project that i...
How the Company Makes Money
null...
FPX Nickel Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -263.96K | -250.71K | -139.00K | -88.08K | -50.69K |
| EBITDA | -5.96M | -2.52M | -4.27M | -3.61M | -3.75M |
| Net Income | -5.06M | -2.71M | -4.34M | -3.64M | -3.84M |
Balance Sheet | |||||
| Total Assets | 72.68M | 77.27M | 59.89M | 42.27M | 30.46M |
| Cash, Cash Equivalents and Short-Term Investments | 16.23M | 34.07M | 28.92M | 18.02M | 14.54M |
| Total Debt | 133.43K | 209.26K | 269.44K | 154.07K | 237.71K |
| Total Liabilities | 4.20M | 4.21M | 2.33M | 718.43K | 690.88K |
| Stockholders Equity | 66.67M | 71.64M | 56.06M | 39.94M | 29.77M |
Cash Flow | |||||
| Free Cash Flow | -3.55M | -1.88M | -2.17M | -10.54M | -6.43M |
| Operating Cash Flow | -3.55M | -1.88M | -1.97M | -3.22M | -1.66M |
| Investing Cash Flow | -14.11M | -11.23M | -6.39M | -7.34M | -4.77M |
| Financing Cash Flow | -177.29K | 18.26M | 19.27M | 14.04M | 15.13M |
FPX Nickel Technical Analysis
Negative
0.48
Price Trends
0.53
Negative
0.50
Negative
0.41
Positive
Market Momentum
-0.03
Negative
36.55
Neutral
25.73
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 0.45, below the 50-day MA of 0.53, and above the 200-day MA of 0.41, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 36.55 is Neutral, neither overbought nor oversold. The STOCH value of 25.73 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% | |
55 Neutral | C$152.65M | -5.90 | -331.25% | ― | ― | -97.52% | |
54 Neutral | C$16.53M | -6.77 | -61.55% | ― | 2549.43% | 17.73% | |
50 Neutral | C$197.04M | -13.13 | 47.45% | ― | ― | 48.63% | |
48 Neutral | C$132.46M | -32.36 | -7.36% | ― | ― | -60.92% | |
47 Neutral | C$104.42M | -3.78 | -317.29% | ― | ― | -99.89% | |
45 Neutral | C$103.92M | -8.20 | -4.28% | ― | ― | 9.35% |
* Basic Materials Sector Average
TSE:FPX
FPX Nickel
0.42
0.17
68.00%
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0.94
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157.53%
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0.09
0.04
70.00%
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-3.70%
TSE:RUA
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1.35
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TSE:MAXX
Max Power Mining Corp
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570.59%
FPX Nickel Corporate Events
Business Operations and Strategy
FPX Nickel and JOGMEC Outline Multiple New Awaruite Targets at Klow Property
Positive
Mar 26, 2026
FPX Nickel has reported new exploration results from the Klow property in British Columbia, where a 2025 rock and stream sediment sampling program, fully funded by Japan’s JOGMEC, has delineated three additional awaruite nickel target zones....
Business Operations and StrategyRegulatory Filings and Compliance
FPX Nickel Opens First Public Comment Period for Baptiste Project Environmental Review
Positive
Feb 10, 2026
FPX Nickel has launched the first public comment period for the environmental assessment of its Baptiste Nickel Project in central British Columbia, following the recent acceptance of its Initial Project Description by federal and provincial regul...
Business Operations and Strategy
FPX Nickel’s Geotechnical Drilling Confirms Baptiste Grades
Positive
Feb 4, 2026
Confirmatory assays from FPX Nickel’s 2025 geotechnical drilling at Baptiste show DTR nickel grades that meet or surpass the current resource model both within and outside the planned pit, reinforcing geotechnical models and supporting the o...
Business Operations and StrategyRegulatory Filings and Compliance
FPX Nickel Kicks Off Environmental Assessment for Flagship Baptiste Project in B.C.
Positive
Jan 23, 2026
FPX Nickel has submitted and received formal acceptance of the Initial Project Description for its Baptiste Nickel Project from both the British Columbia Environmental Assessment Office and the Impact Assessment Agency of Canada, marking the offic...
Business Operations and StrategyDelistings and Listing Changes
FPX Nickel Upgrades U.S. Listing to OTCQX Best Market
Positive
Jan 5, 2026
FPX Nickel Corp. has upgraded its U.S. trading status from the OTCQB Venture Market to the OTCQX Best Market, with its common shares now trading under the ticker symbol FPOCF while continuing to trade on the TSX Venture Exchange under the symbol F...
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.