Finlay Minerals (FYL) AI Stock Analysis

• Market Cap: C$20.39M
• Dividend Yield: N/A
• Average Volume (3M): 78.75K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.00
• Shares Outstanding: 169,900,990
• 10 Day Avg. Volume: 109,264
• 30 Day Avg. Volume: 78,748
• PEG Ratio: 0.29
• Price to Book (P/B): 0.27
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.72
• 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: 54 Neutral
• Price Target: C$0.13 ▲(10.83% Upside)

The score is held back primarily by weak operating fundamentals (no revenue, ongoing losses, and negative free cash flow), partially offset by a strong debt-free balance sheet and improved operating cash flow. Technicals are constructive with price above key moving averages and a positive MACD, but elevated RSI suggests momentum may be stretched. Valuation is not supportive due to negative earnings and no dividend yield data.

Positive Factors

Debt-free Balance Sheet

A zero-debt balance sheet materially reduces refinancing and interest-rate risk, preserving financial optionality for exploration spending or deal-making. Over the next several months this supports flexibility to pursue JV/option opportunities without fixed debt service obligations.

Improved Operating Cash Flow

A swing to positive operating cash flow indicates better cash management and ability to fund near-term exploration activity from operations vs prior periods. This durable improvement lowers immediate funding pressure and increases credibility with potential partners and financiers.

Clear Exploration Monetization Path

The company's explicit focus on early-stage exploration in BC and standard industry monetization routes (option agreements, joint ventures, property sales) provides a repeatable business model. That structural pathway supports value realization when discoveries attract partners or buyers.

Negative Factors

No Revenue Generation

Absence of operating revenue leaves the company without internally generated, recurring cash inflows, making long-term sustainability contingent on external funding or transactional monetization. Over months this limits independent investment in advancing projects.

Persistent Negative Free Cash Flow

Sustained negative free cash flow reflects exploration spending outpacing operating cash generation; this structural gap necessitates ongoing capital raises or partner funding. Over a 2–6 month horizon it increases dilution and execution risk if markets tighten.

Funding Reliance on Equity Financings

Dependence on equity issuance for cash creates recurring dilution risk and ties operational continuity to access to capital markets. For an early-stage explorer without production, this structural funding model can constrain project timelines and bargaining power with potential JV partners.

Finlay Minerals Business Overview & Revenue Model

Company Description

Finlay Minerals Ltd. engages in the acquisition and exploration of base and precious metal deposits in northern British Columbia, Canada. It focuses on the exploration for gold-rich copper porphyry, epithermal gold, and mesothermal silver-copper targets. The company holds 100% interests in the Silver Hope property comprising 41 mineral tenures located in the Houston, British Columbia; and Atty property that includes 12 mineral tenure claims and PIL property consisting of 39 mineral tenures located in the Toodoggone mineral district. Finlay Minerals Ltd. was incorporated in 1999 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Finlay Minerals makes money through the exploration and potential development of its mineral properties. The company's revenue model primarily relies on successfully identifying commercially viable mineral deposits that can be sold or developed into productive mining operations. Revenue streams include selling or partnering with larger mining companies to develop these properties or through joint ventures, which may provide upfront payments, royalties, or other financial arrangements. The company's earnings are significantly influenced by the fluctuating market prices of the minerals they explore, as well as their ability to secure funding and partnerships to finance exploration activities.

Finlay Minerals Financial Statement Overview

Summary

Financials are mixed: the company has no revenue and remains loss-making (TTM net income -242,872; EBIT -478,701), but it benefits from a debt-free balance sheet (total debt 0) and growing equity. Cash flow improved with positive TTM operating cash flow (1,552,093), though persistent negative free cash flow (TTM -1,510,330) keeps funding risk elevated.

Income Statement

The company reports no revenue across the annual periods and TTM (Trailing-Twelve-Months), which limits visibility into operating traction. Losses are persistent, with TTM (Trailing-Twelve-Months) net income at -242,872 and EBIT at -478,701, indicating ongoing cost burn. A modest improvement versus larger losses seen in earlier years is a positive, but profitability remains structurally weak without revenue generation.

Balance Sheet

The balance sheet is a clear strength: total debt is reported at 0 across periods, reducing financial risk and refinancing pressure. Equity is solid and has grown to 11,689,855 in TTM (Trailing-Twelve-Months) from 10,107,272 in 2024, supporting the asset base (TTM total assets: 15,647,837). The key weakness is ongoing negative returns on equity (TTM return on equity: about -2.7%), reflecting dilution/asset use without current earnings power.

Cash Flow

Cash flow quality is mixed and volatile. TTM (Trailing-Twelve-Months) operating cash flow is positive at 1,552,093 (a meaningful swing from negative operating cash flow in prior annual periods), which helps fund operations near-term. However, free cash flow remains negative in TTM (Trailing-Twelve-Months) at -1,510,330, implying continued reinvestment or exploration spend that is not yet self-funded; historical free cash flow has also been consistently negative, underscoring funding dependence over time.

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	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-232.79K	0.00	49.33K	-374.00K	-946.00K	86.00K
Net Income	-242.87K	-215.23K	-394.00K	-361.00K	-1.04M	-47.54K
Balance Sheet
Total Assets	15.65M	11.73M	11.91M	11.63M	12.02M	9.24M
Cash, Cash Equivalents and Short-Term Investments	2.89M	299.60K	641.01K	280.44K	1.89M	292.64K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	3.96M	1.62M	1.73M	1.77M	1.92M	1.66M
Stockholders Equity	11.69M	10.11M	10.18M	9.86M	10.10M	7.58M
Cash Flow
Free Cash Flow	-1.51M	-483.95K	-383.75K	-1.77M	-1.46M	-826.21K
Operating Cash Flow	1.55M	-300.90K	-291.10K	-405.72K	-446.86K	-131.81K
Investing Cash Flow	-957.28K	-108.85K	-56.05K	-1.27M	-934.21K	-685.73K
Financing Cash Flow	2.03M	200.00K	548.61K	0.00	3.05M	-15.41K

Finlay Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FYL, the sentiment is Positive. The current price of 0.12 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.11, and above the 200-day MA of 0.11, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.60 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FYL.

Finlay Minerals 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$20.39M	-70.59	-2.59%	―	―	―
ATHA	53 Neutral	C$20.88M	―	19.89%	―	―	―
AIR	53 Neutral	C$21.30M	-15.18	-4.21%	―	―	66.86%
RRI	49 Neutral	C$16.45M	7.17	-15.87%	―	―	-90.32%
ARU	46 Neutral	C$25.13M	-1.42	―	―	―	-6.12%
NOB	36 Underperform	C$28.48M	52.17	―	―	―	-970.00%

Finlay Minerals Corporate Events

Finlay Minerals Expands Porphyry Targets in 2025 ATTY Exploration Program

Finlay Minerals reported that its 2025 exploration program at the ATTY Project has significantly expanded known copper-gold porphyry targets and outlined several new prospects, strengthening the project’s scale and geological coherence along an 8.5-kilometre northwestern porphyry trend. Work during the season enlarged the Wrich target to a 1,200-by-1,200-metre footprint, defined the newly discovered Wrich Hill gold anomaly, identified the Pyramid West and Pyramid East copper-gold porphyry targets, extended the Valley chargeability zone, and improved target definition at the KEM and Attycelley areas, collectively reinforcing ATTY’s strategic position within a district that hosts large nearby deposits and highlighting the project’s growing exploration potential under Freeport-funded systematic work.

The most recent analyst rating on (TSE:FYL) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Finlay Minerals stock, see the TSE:FYL Stock Forecast page.

John Andrew Barakso Increases Stake in Finlay Minerals Amidst Dilution

John Andrew Barakso has acquired beneficial ownership of 100,000 common shares of Finlay Minerals Ltd. through a stock option grant under the company’s 10% Rolling Stock Option Plan. This acquisition, which is part of Barakso’s investment strategy, results in a decrease in his overall beneficial ownership percentage due to dilution from the company’s 2025 financings, impacting his control over the company’s shares.

Finlay Minerals Grants 2.7 Million Stock Options to Key Personnel

Finlay Minerals Ltd. has granted 2,725,000 stock options to its directors, officers, employees, and consultants, allowing them to acquire common shares at $0.13 each until December 2030. This move increases the company’s total outstanding stock options to 11,925,000, potentially impacting shareholder value and employee incentives.

Finlay Minerals Completes 2025 Exploration Programs in British Columbia

Finlay Minerals Ltd. has completed its 2025 exploration programs at the PIL and ATTY Projects in the Toodoggone region of British Columbia. These programs, funded through Earn-In Agreements with Freeport-McMoRan, aimed to develop drill targets for 2026 and assess other targets for future exploration. The completion of these programs positions Finlay to potentially enhance its exploration capabilities and strengthen its market position in the mining industry.

Finlay Minerals Closes $1.71 Million Private Placement to Boost Exploration

Finlay Minerals Ltd. has successfully closed a non-brokered private placement, raising approximately $1.71 million through the issuance of flow-through and non-flow-through units. The proceeds will be used for exploration activities on the company’s SAY, JJB, and Silver Hope properties, as well as for general working capital. This move is expected to bolster Finlay’s exploration efforts in regions known for recent copper-gold porphyry discoveries, potentially enhancing its industry positioning and offering new opportunities for stakeholders.