First Tellurium Corp (FTEL) AI Stock Analysis

• Market Cap: C$19.58M
• Dividend Yield: N/A
• Average Volume (3M): 468.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: N/A
• EPS Growth: 32.85%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 118,691,830
• 10 Day Avg. Volume: 384,534
• 30 Day Avg. Volume: 468,257
• PEG Ratio: 0.20
• Price to Book (P/B): -43.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.66
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: C$0.16 ▼(-21.00% Downside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is driven primarily by very weak financial performance (no revenue, widening losses, negative cash flow, and negative equity). Technical indicators add further downside bias (negative MACD, RSI below 50, and trading below key moving averages). Valuation provides limited support because the negative P/E is driven by losses and there is no dividend yield.

Positive Factors

Critical-minerals exposure

Being focused on tellurium and associated critical minerals positions the company within a structural, multi-year market theme for strategic materials. This preserves long-term optionality: successful exploration or discovery can create durable project value and partner interest beyond short-term cycles.

Project jurisdiction

Project holdings in British Columbia place assets in a mature, well‑established Canadian mining jurisdiction. Over months this reduces geopolitical and permitting uncertainty versus higher‑risk jurisdictions, supporting more predictable advancement and potential partner or capital access.

Modest absolute debt

Low absolute debt levels reduce near‑term fixed financial obligations, easing immediate solvency pressure. For an exploration-stage company this limits interest burden and preserves structural financial flexibility while management pursues asset advancement or financing options.

Negative Factors

No revenue and widening losses

The company has no operating revenue and materially widening net losses, reflecting persistent negative operating economics. Over the coming months this lack of revenue means continued reliance on external capital, delays in reaching operational breakeven, and limited internal reinvestment ability.

Negative operating and free cash flow

Sustained negative OCF and FCF indicate ongoing cash burn to fund exploration and overhead. Structurally this necessitates repeated financing or asset monetization, raising dilution and execution risk and constraining the company's capacity to advance projects without partners or new capital.

Negative shareholders' equity

Negative equity reflects cumulative losses eroding the capital base, weakening balance sheet quality. Over a multi‑month horizon this diminishes borrowing capacity, weakens negotiating leverage with partners and financiers, and increases the probability of dilution or distressed financing if cash burn continues.

First Tellurium Corp Business Overview & Revenue Model

Company Description

First Tellurium Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It primarily explores for silver, tellurium, gold, copper, tungsten, copper porphyry, bismuth, lead, zinc, and molybdenum. The company holds 50% interest in the Deer Horn Property covering 5,133 hectares located in north western British Columbia. It also has an option to acquire the Colorado Klondike Property located in south-central Colorado, the United States. The company was formerly known as Deer Horn Capital Inc. and changed its name to First Tellurium Corp. in 2021. First Tellurium Corp. was incorporated in 2004 and is headquartered in Delta, Canada.

How the Company Makes Money

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First Tellurium Corp Financial Statement Overview

Summary

Fundamentals are very weak: no revenue reported, persistent and widening net losses (TTM net loss about -$3.8M vs. about -$1.9M in FY2025), negative operating and free cash flow (TTM OCF about -$0.8M; FCF about -$1.1M), and negative shareholders’ equity (TTM about -$2.1M). Debt is modest (~$0.9M), but negative equity and ongoing cash burn raise dilution/financing risk.

Income Statement

The company continues to report no revenue across the available periods, while expenses drive persistent losses. Profitability weakened in TTM (Trailing-Twelve-Months) with net loss of about -$3.8M versus about -$1.9M in FY2025, indicating a higher cash burn profile and limited operating leverage until revenue generation begins. A modest positive is that losses have fluctuated over time (e.g., materially smaller loss in FY2021), but the current trajectory is negative.

Balance Sheet

Leverage is moderate in absolute dollars (TTM total debt about $0.9M), but the balance sheet quality is pressured by negative shareholders’ equity in TTM (about -$2.1M) and FY2025 (about -$0.3M). Total assets are relatively small (TTM about $1.2M), and the shift from positive equity in FY2022–FY2023 to negative equity more recently points to cumulative losses eroding the capital base. Debt is not extreme, but the weak equity position increases financing and dilution risk.

Cash Flow

Cash generation remains negative, with operating cash flow at about -$0.8M in TTM (Trailing-Twelve-Months) and free cash flow about -$1.1M, though this is an improvement versus FY2025 operating cash flow of about -$1.6M and free cash flow of about -$1.8M. Free cash flow growth is negative in TTM (-27.55%), highlighting volatility and ongoing funding needs. A relative strength is that cash outflow has, at times, moderated versus prior years, but overall cash burn persists without revenue support.

Breakdown	TTM	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-114.67K	-100.26K	-80.72K	-11.16K	-7.96K	-8.16K
EBITDA	-3.67M	-1.79M	-2.14M	-1.94M	-1.85M	-455.57K
Net Income	-3.79M	-1.93M	-2.29M	-1.98M	-1.92M	-482.62K
Balance Sheet
Total Assets	1.18M	1.47M	988.09K	1.71M	1.47M	219.27K
Cash, Cash Equivalents and Short-Term Investments	98.69K	213.87K	12.60K	193.84K	1.01M	2.50K
Total Debt	913.00K	894.20K	887.24K	182.00K	188.89K	187.94K
Total Liabilities	3.30M	1.83M	2.35M	550.23K	401.11K	725.44K
Stockholders Equity	-2.07M	-315.72K	-1.34M	1.18M	1.06M	-506.17K
Cash Flow
Free Cash Flow	-1.08M	-1.77M	-1.10M	-2.35M	-2.28M	-234.23K
Operating Cash Flow	-820.02K	-1.60M	-1.02M	-2.25M	-2.19M	-170.46K
Investing Cash Flow	-995.95K	-847.05K	-80.41K	-99.44K	-150.13K	-54.07K
Financing Cash Flow	877.66K	2.65M	920.51K	1.54M	3.35M	106.74K

First Tellurium Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FTEL, the sentiment is Negative. The current price of 0.2 is above the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.18, and above the 200-day MA of 0.16, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.70 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FTEL.

First Tellurium Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FYL	54 Neutral	C$19.54M	-403.86	-2.59%	―	―	―
KFR	53 Neutral	C$51.58M	24.62	-3.35%	―	―	77.78%
TUF	50 Neutral	C$21.50M	-4.54	-313.87%	―	―	-17.86%
ALEX	49 Neutral	C$22.07M	-95.86	3.88%	―	―	―
FTEL	41 Neutral	C$19.58M	-8.66	―	―	―	32.85%

First Tellurium Corp Corporate Events

First Tellurium Upsizes Private Placement After Strong Investor Demand

First Tellurium Corp., a Canadian-listed resource and technology-focused company, generates value through mineral discovery, project development and the advancement of tellurium-based technologies. The company targets both the specialty metals market and tellurium-enabled high-tech applications, with its shares trading on the Canadian Securities Exchange under FTEL and on the OTC market under FSTTF.

The company has closed a first tranche of its non-brokered private placement, issuing 4,992,545 units for gross proceeds of about $848,733 and paying a small finder’s fee, with all securities subject to a four-month hold period. On the back of stronger-than-expected investor interest, First Tellurium has increased the total offering to up to 14,000,000 units at $0.17 per unit for potential gross proceeds of up to $2.38 million, proceeds earmarked for general working capital and with anticipated insider participation structured to remain exempt from formal valuation and minority approval rules.

Each unit in the financing consists of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.24 for two years, offering additional upside to participating investors. The expanded raise, conducted under prospectus exemptions and subject to standard hold periods, underscores continued capital markets support for the company’s strategy while modestly diluting existing shareholders in exchange for strengthened liquidity and operational flexibility.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Plans $1.7 Million Private Placement Financing

First Tellurium Corp. has launched a non-brokered private placement to raise up to $1.7 million through the issuance of up to 10 million units, each comprising one common share and one-half of a share purchase warrant. Each whole warrant will allow investors to buy an additional share at $0.24 for two years after closing, with proceeds earmarked for general working capital.

The company may pay finder’s fees in cash, shares or warrants, and all securities issued will be subject to a four-month-plus-one-day hold period under Canadian securities rules. Some company insiders are expected to participate under exemptions to related-party transaction regulations, indicating internal support for the financing while remaining within limits tied to First Tellurium’s market capitalization.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Unit PyroDelta Starts High-End Thermoelectric Crystal Production in Florida

First Tellurium’s subsidiary PyroDelta Energy has begun manufacturing high-end bismuth telluride thermoelectric crystals at a new Florida facility using its proprietary Capillary Casting process. The technology delivers defect-free, highly conductive and robust custom-shaped crystals sourced from North American raw materials, aiming to reduce reliance on Chinese supply and set a new performance standard for thermoelectric manufacturers.

By eliminating cutting, soldering and crystal misalignment, PyroDelta claims lower resistivity, cost savings for device makers and expanded design flexibility, including modules that withstand extreme temperatures. The process has also enabled the industry’s first practical thermoelectric tubes to capture waste heat from hot liquids, targeting large opportunities in AI and crypto mining data centers, combustion engines and solar power systems by converting temperature differentials into supplemental electricity.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Defends Share Price as Thermoelectric Drone Push Gains Traction

First Tellurium Corp. addressed recent shareholder concerns over weakness in its share price, stating there is no negative news or fundamental change to justify the decline. Management emphasized that the company continues to advance its tellurium-based thermoelectric initiatives through subsidiary PyroDelta Energy, particularly in drone applications and manufacturing opportunities for the broader thermoelectric sector.

PyroDelta is preparing a drone built around its waste-heat harvesting thermoelectric system for the U.S. Department of Defense’s DARPA Heavy Lift Challenge, aiming to showcase the technology’s advantages to major drone-industry and U.S. government stakeholders. The company is also seeing rising interest from industry, media and government, including coverage by major U.S. publications and outreach to senior Canadian officials, which could bolster visibility and support for its clean-energy applications in both industrial and defense markets.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Subsidiary Enters DARPA Lift Challenge With Heavy-Lift Drone Design

First Tellurium Corp. announced that its majority-owned subsidiary, PyroDelta Energy Inc., has entered the U.S. Department of Defense DARPA Lift Challenge, a US$6.5 million competition aimed at developing drone designs capable of carrying payloads heavier than their own weight. PyroDelta plans to combine its thermoelectric technology with a new drone design to achieve a superior payload-to-weight ratio, positioning the company as a potential innovator in heavy-lift drone applications across defense, agriculture, construction and logistics, while gaining significant exposure through participation in this high-profile contest.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.

First Tellurium Targets Canada’s AI Boom With Waste-Heat Power Technology

First Tellurium Corp., through its subsidiary PyroDelta Energy Inc., is advancing a proprietary tubular thermoelectric generator designed to capture waste heat from AI data centers and convert it into clean, reliable supplemental electricity. The company is positioning this technology to benefit from Canada’s substantial new public and private AI investments, including multibillion-dollar commitments to AI infrastructure, and has engaged consultants to connect with federal and provincial officials for potential funding and deployment across AI, defense and broader energy-saving applications, underscoring its ambition to integrate its thermoelectric systems into the country’s emerging AI infrastructure strategy.

The most recent analyst rating on (TSE:FTEL) stock is a Hold with a C$0.18 price target. To see the full list of analyst forecasts on First Tellurium Corp stock, see the TSE:FTEL Stock Forecast page.