Fireweed Zinc (FWZ) AI Stock Analysis

• Market Cap: C$712.76M
• Dividend Yield: N/A
• Average Volume (3M): 520.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.93
• 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$4.13
• Price Target Upside: 25.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: C$3.50 ▲(6.06% Upside)

The score is held down primarily by pre-revenue operations with large losses and worsening cash burn, despite low leverage. Technicals also lean bearish with price below key moving averages and a negative MACD. Positive corporate updates provide some upside potential, but valuation metrics offer limited support due to negative earnings and no dividend yield.

Positive Factors

Low leverage / conservative balance sheet

Extremely low debt materially reduces solvency and refinancing risk for an exploration company. This conservative capital structure gives management more time to advance projects, lowering likelihood of distress financing and supporting long-term project optionality absent near-term revenues.

Growing equity base provides funding capacity

A rising equity base signals the company has been able to source capital to fund exploration and development. Durable access to equity markets supports continued project advancement and reduces immediate solvency risk, enabling multi-stage technical programs without relying solely on operational cash flows.

Positive exploration and development progress

Confirmed mineralization and feasibility-stage work increase the probability of resource conversion and eventual development. These technical milestones reduce geological and execution uncertainty, strengthening the company's long-term asset quality and strategic optionality across zinc and tungsten exposures.

Negative Factors

Pre-revenue with materially widening losses

Operating with no revenues and rapidly expanding net losses is a structural weakness for a developer; persistent negative earnings erode capital and raise the bar for future returns. Until commercial production or sustained cash-generating activity occurs, shareholder value depends on successful, uncertain project execution.

Significant and worsening cash burn

Large, increasing negative operating and free cash flows create a durable funding need, forcing recurring capital raises or asset sales. Repeated dilution or reliance on external financing can compress returns, slow project timelines, and constrain the company’s ability to execute multi-year development plans without altering strategy.

Very poor returns on equity

A deeply negative ROE indicates capital is being consumed rather than generating value. Over time this undermines investor confidence, limits retained-capital reinvestment, and signals that current spending is not translating into value creation absent a clear path to production or asset monetization.

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

Fireweed Zinc's financial performance is weak due to significant challenges with profitability, as indicated by negative margins and cash flows. Despite a moderate equity base, the company's reliance on external financing and absence of revenue growth highlights financial instability.

Income Statement

Fireweed Zinc's income statement reflects significant challenges with profitability. The company has not generated any substantial revenue over the past years, with TTM revenue being minimal. Gross profit margins and net profit margins are negative due to high operating expenses and negative gross profit, indicating an unprofitable operation. The substantial negative EBIT and EBITDA margins further highlight inefficiencies and high operational costs.

Balance Sheet

Fireweed Zinc maintains a relatively solid equity base with a moderate equity ratio, suggesting some financial stability. However, the company has accumulated considerable debt over the years. The debt-to-equity ratio remains low, indicating low leverage risk, but the negative net income results in weak return on equity. The company appears to be maintaining liquidity through high cash reserves, which is a positive aspect of its financial position.

Cash Flow

The cash flow statement reveals significant cash outflows from operating activities, with the company heavily reliant on financing to sustain operations. Free cash flow is negative, highlighting challenges in generating sufficient cash from operations. The free cash flow to net income ratio is concerning, indicating inefficiencies in converting earnings to cash. The company’s cash flow situation is precarious, relying on external funding.

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: 3.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 3.3 is above the 20-day moving average (MA) of 2.93, above the 50-day MA of 2.89, and above the 200-day MA of 2.53, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 63.78 is Neutral, neither overbought nor oversold. The STOCH value of 90.87 is Negative, 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$193.47M	-33.33	-46.64%	―	―	-59.57%
TMQ	54 Neutral	$1.34B	-99.75	-7.00%	―	―	7.70%
OM	54 Neutral	C$649.32M	-22.03	-19.38%	―	―	-57.63%
CDPR	53 Neutral	C$345.05M	-29.25	-129.16%	―	-100.00%	-127.82%
FWZ	46 Neutral	C$712.76M	-14.56	-106.96%	―	―	0.74%
TK	43 Neutral	C$66.83M	-35.42	-1.53%	―	―	5.26%

Fireweed Zinc Corporate Events

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.