Fireweed Zinc (FWZ) AI Stock Analysis

• Market Cap: C$778.13M
• Dividend Yield: N/A
• Average Volume (3M): 520.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.84
• Revenue Growth: N/A
• EPS Growth: 0.74%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.12
• Shares Outstanding: 210,875,400
• 10 Day Avg. Volume: 619,463
• 30 Day Avg. Volume: 520,781
• PEG Ratio: 0.53
• Price to Book (P/B): 6.44
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.19
• 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: C$4.12
• Price Target Upside: 11.61% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$4.00 ▲(8.40% Upside)

The score is held down primarily by weak financial performance (pre-revenue operations, large losses, and worsening cash burn). Technicals provide meaningful support with an uptrend and positive momentum indicators, but valuation is constrained by negative earnings and no dividend data.

Positive Factors

Low leverage / conservative balance sheet

Extremely low debt relative to equity materially reduces near-term solvency risk and interest burden. For an exploration-stage miner, conservative leverage preserves optionality to fund phase-gated exploration and development without immediate refinancing pressure, a durable strength.

Rising equity base / financing support

Steady growth in shareholders' equity demonstrates access to capital markets and investor support. That funding runway enables continued drilling and technical work; recurring ability to raise equity is a structural enabler for advancing exploration projects toward development.

Focused zinc exploration strategy

A clear business focus on zinc gives strategic clarity and technical specialization. Specialization allows management to deploy capital and expertise efficiently across target geology and jurisdictions, improving the odds of resource discovery and scalable project development over time.

Negative Factors

Pre-revenue with materially widening losses

Being pre-revenue means no operating inflows while losses have widened significantly, eroding capital. Persistent negative gross profit indicates operations are not yet productive; absent a clear path to revenue generation, long-term viability depends on continued funding or successful resource commercialization.

Large and worsening cash burn

Accelerating negative operating and free cash flow signals growing funding needs. Over a multi-month horizon this raises reliance on external financing, increases dilution risk, and can delay project milestones if capital markets tighten, making execution on development timelines more uncertain.

Very poor return on equity

ROE near -101% shows the company is destroying shareholder capital rather than creating value. Persistently negative returns reduce the efficiency of invested capital, pressuring the equity base and increasing the frequency and size of fundraising needed to sustain exploration activity.

Fireweed Zinc Business Overview & Revenue Model

Company Description

Fireweed Metals Corp. acquires, explores for, and develops mineral properties in Canada. It explores for zinc, lead, and silver, as well as gallium and germanium deposits. The company owns an interest in the Macmillan Pass project located in Yukon, Canada; and the Gayna River project situated in Northwest Territories, Canada. It also has an option to acquire 100% interest in the Mactung Tungsten project that covers an area of 37.6 square kilometers located in Yukon and Northwest Territories, Canada. The company was formerly known as Fireweed Zinc Ltd. and changed its name to Fireweed Metals Corp. in June 2022. Fireweed Metals Corp. was incorporated in 2015 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Fireweed Zinc makes money through the exploration, development, and potential future production of mineral resources, primarily zinc, lead, and silver. The company raises capital through equity financing to fund its exploration and development activities. Once the projects are sufficiently advanced, Fireweed Zinc may generate revenue through the sale of mineral concentrates or by entering into joint ventures or partnerships with larger mining companies. Additionally, the company aims to enhance shareholder value by increasing the resource base and advancing its projects towards feasibility and production stages. Strategic partnerships and favorable market conditions for zinc, lead, and silver can significantly impact the company's earnings potential.

Fireweed Zinc Financial Statement Overview

Summary

Financial profile is weak overall: the company remains pre-revenue with materially widening losses and consistently negative gross profit. Cash flow is a key risk with large and worsening operating cash burn and negative free cash flow, implying ongoing reliance on external funding. The main offset is a conservatively levered balance sheet with very low debt and rising equity, which reduces near-term solvency risk.

Income Statement

The company remains pre-revenue (revenue is 0 across all periods), while losses have widened materially from 2020 to 2024 and remain very large in TTM (Trailing-Twelve-Months) (net loss about 45.0M vs. 34.7M in 2024). Gross profit is consistently negative, indicating ongoing operating cost absorption without offsetting sales. A key positive is the pace of spending does not appear to be accelerating further versus 2024 on a net-loss basis, but overall profitability and business traction are still weak.

Balance Sheet

The balance sheet is conservatively levered with very low debt relative to equity (debt-to-equity ~0.004 in TTM (Trailing-Twelve-Months)), which reduces financial risk. Equity has increased over time (roughly 43.4M in TTM vs. 35.8M in 2024 and 18.7M in 2021), suggesting financing support. The main weakness is persistent heavy losses driving very poor returns on equity (about -101% in TTM (Trailing-Twelve-Months)), which can pressure the capital base if cash burn continues.

Cash Flow

Cash burn is significant and worsening: operating cash flow is about -49.6M in TTM (Trailing-Twelve-Months) versus -40.8M in 2024, and free cash flow is about -54.7M in TTM (Trailing-Twelve-Months) versus -44.5M in 2024. A positive is that cash outflow broadly tracks reported losses (free cash flow is roughly in line with net loss), suggesting limited earnings-quality distortion. However, the scale and upward trend in cash burn imply a continued need for external funding absent a transition to revenue generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-586.12K	-701.13K	-452.00K	-40.50K	-42.74K	-16.05K
EBITDA	-44.41M	-33.70M	-39.72M	-15.90M	-9.25M	-6.04M
Net Income	-45.04M	-34.66M	-33.26M	-13.54M	-8.92M	-5.64M
Balance Sheet
Total Assets	58.92M	41.00M	39.46M	54.61M	21.03M	14.22M
Cash, Cash Equivalents and Short-Term Investments	34.05M	19.82M	19.22M	39.89M	8.18M	2.26M
Total Debt	167.25K	314.27K	796.90K	40.00K	40.00K	40.00K
Total Liabilities	15.54M	5.16M	6.90M	5.45M	2.29M	506.44K
Stockholders Equity	43.38M	35.84M	32.56M	49.16M	18.75M	13.71M
Cash Flow
Free Cash Flow	-54.75M	-44.52M	-37.92M	-15.32M	-8.85M	-6.90M
Operating Cash Flow	-49.63M	-40.75M	-36.51M	-14.98M	-8.75M	-6.23M
Investing Cash Flow	-5.12M	-3.77M	-1.42M	-1.84M	-99.70K	-667.75K
Financing Cash Flow	59.37M	45.11M	17.26M	48.52M	14.76M	8.38M

Fireweed Zinc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.69
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FWZ, the sentiment is Positive. The current price of 3.69 is above the 20-day moving average (MA) of 3.34, above the 50-day MA of 3.04, and above the 200-day MA of 2.66, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 65.77 is Neutral, neither overbought nor oversold. The STOCH value of 73.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FWZ.

Fireweed Zinc 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%
ZNG	57 Neutral	C$206.54M	-32.89	-46.64%	―	―	-59.57%
TMQ	54 Neutral	C$1.20B	-78.26	-7.00%	―	―	7.70%
OM	54 Neutral	C$738.18M	-26.39	-19.38%	―	―	-57.63%
FWZ	52 Neutral	C$778.13M	-14.87	-106.96%	―	―	0.74%
TK	51 Neutral	C$59.48M	-33.83	-1.53%	―	―	5.26%
CDPR	48 Neutral	C$418.07M	-29.72	-129.16%	―	-100.00%	-127.82%

Fireweed Zinc Corporate Events

Fireweed Metals Grants 3.7 Million Stock Options to Staff and Directors

Fireweed Metals Corp. has granted a total of 3,673,600 stock options to certain employees and directors under its stock option plan, with an exercise price of $3.14 per share and a five-year term. The move underscores the company’s use of equity-based incentives to align management and staff with long-term shareholder value creation as it advances exploration and development across its Macpass critical metals district in Northern Canada.

The most recent analyst rating on (TSE:FWZ) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.

Fireweed Extends Tom South Mineralization with 300 m Step-Out Drill Hole at Macpass

Fireweed Metals has reported encouraging initial results from a major 300-metre step-out drill hole at the Tom South zone on its Macpass Project in Yukon, intersecting 58.3 metres of laminated sulphide mineralization grading 2.33% zinc, 0.04% lead and 1.79 g/t silver, including a higher-grade 5.24-metre interval. The hole, which extends the down-dip step-out distance at Tom South to 415 metres from previous drilling and remains open at depth, was terminated in mineralization due to winter conditions and will be completed in 2026, underpinning Fireweed’s strategy to test for a feeder-style massive sulphide zone and to build scale through both resource expansion at Tom South and regional zinc and gold exploration across multiple Macpass targets.

The most recent analyst rating on (TSE:FWZ) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.

Fireweed Extends Tom South Mineralization with 300 m Step-Out Hole at Macpass

Fireweed Metals reported that step-out drill hole TS25-003 at the Tom South zone of its Macpass Project intersected 58.30 metres of laminated sulphide mineralization grading 2.33% zinc, 0.04% lead and 1.79 g/t silver, including a higher-grade 5.24-metre interval at 7.80% zinc, before drilling was halted in mineralization due to winter conditions. The hole, located 300 metres down-dip from a previously announced high-grade massive sulphide intersection, extends the 2025 step-out distance at Tom South to 415 metres and confirms that the target remains open at depth, with management planning to resume the hole early in the 2026 field season and to use geological indicators from 2025 results to vector toward potential feeder zones and test the down-dip extent of the deposit, while also advancing regional zinc and gold exploration at other Macpass targets.

The most recent analyst rating on (TSE:FWZ) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.

Fireweed Metals Confirms Significant Zinc Mineralization at Gayna Property

Fireweed Metals Corp. has successfully completed its 2025 exploration program at the Gayna Property, marking the first drilling activity since the late 1970s. The program, which included approximately 3,800 meters of drilling, confirmed significant zinc and lead mineralization at the Intrepid target. This advancement enhances Fireweed’s understanding of the geological system and supports future exploration efforts. The results indicate potential for further mineralization along reef margins, which could bolster the company’s position in the mining sector.

The most recent analyst rating on (TSE:FWZ) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.

Fireweed Metals Advances Mactung Tungsten Project with Successful Drill Program

Fireweed Metals Corp. has successfully completed a comprehensive 11,117-meter multi-purpose drill program at its Mactung tungsten project, which includes geotechnical, hydrogeological, and infill drilling. This program is crucial for the upcoming Feasibility Study, expected to start by the end of 2025. The results confirm the high-grade nature and significant scale of the tungsten deposit, supported by a U.S. Department of War award under the Defense Production Act. The company has also initiated a Mineral Resource Update to convert resources from Inferred to Indicated, and conducted environmental baseline studies for future mine licensing. These efforts are part of a broader strategy to cement Mactung as a leading tungsten deposit globally, enhancing Fireweed’s industry positioning and potentially benefiting stakeholders through increased project viability and future development activities.

The most recent analyst rating on (TSE:FWZ) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.