Hannan Metals Ltd (HAN) AI Stock Analysis

• Market Cap: C$113.61M
• Dividend Yield: N/A
• Average Volume (3M): 76.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.41
• Revenue Growth: N/A
• EPS Growth: 56.70%
• Country: CA
• Employees: 4
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 144,726,350
• 10 Day Avg. Volume: 115,570
• 30 Day Avg. Volume: 76,292
• PEG Ratio: 0.83
• Price to Book (P/B): 10.51
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -80.13
• 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: 49 Neutral
• Price Target: C$0.85 ▲(0.71% Upside)

The score is driven primarily by early-stage financials: pre-revenue operations and ongoing losses weigh heavily, partly balanced by a debt-free balance sheet and improved (positive) TTM free cash flow. Technicals are broadly neutral with slightly negative momentum, while valuation support is limited by a negative P/E and no dividend yield.

Positive Factors

Conservative capital structure (no debt)

A debt-free balance sheet materially lowers financial risk for a capital-intensive explorer. Without interest obligations management can prioritize drilling and project advancement, preserve optionality, and extend runway between financings, supporting durability over months.

Positive trailing free cash flow

TTM positive free cash flow represents a durable operational inflection if sustained. Even modest FCF reduces dependence on dilutive raises, enables incremental exploration spend from internally generated cash, and signals improving cash discipline to investors.

Rebuilt asset base / stronger balance sheet

Rising total assets and a rebuilt balance sheet strengthen solvency and strategic flexibility. A healthier asset base allows the company to fund exploration, pursue joint ventures or monetize assets without immediate distress, improving medium-term resilience.

Negative Factors

Pre-revenue business model

No revenues mean the company’s economics remain unproven and value hinges on successful discovery and development. This creates persistent execution and market-financing risk over months, as operating viability depends on converting resources into commercial production.

Persistent operating cash burn

Ongoing negative operating cash flow reduces runway and creates recurring financing needs. Over the medium term this can force dilutive capital raises or constrain exploration programs, slowing project timelines and raising structural funding risk for development.

Negative returns on equity

A TTM ROE near -13% indicates the company is destroying shareholder value and not converting capital into returns. Sustained negative ROE undermines capital attraction, signaling weak project economics or inefficient capital allocation until performance materially improves.

Hannan Metals Ltd Business Overview & Revenue Model

Company Description

Hannan Metals Ltd., a junior mineral exploration company, engages in the acquisition and exploration of mineral properties in Ireland and Peru. The company explores for copper, gold, silver, zinc, and lead deposits. Its flagship project is the 100% owned the San Martin project covering an area of 65,600 hectares located to the northwest of Tarapoto, Peru. The company was formerly known as Mitchell Resources Ltd. and changed its name to Hannan Metals Ltd. in January 2017. Hannan Metals Ltd. is based in Vancouver, Canada.

How the Company Makes Money

Hannan Metals Ltd generates revenue through the exploration and potential development of mineral resources, specifically focusing on copper and silver deposits. The company seeks to increase the value of its mineral assets by conducting extensive exploration activities to define resource estimates, which can then attract investment or lead to joint venture opportunities with larger mining companies. These partnerships or potential future sales of developed mining sites contribute significantly to Hannan's revenue model. Additionally, the company may engage in equity financing to fund its ongoing exploration activities.

Hannan Metals Ltd Financial Statement Overview

Summary

Income statement is weak (pre-revenue with ongoing net losses), partially offset by a solid balance sheet (no debt, positive equity) and mixed cash flow signals (operating cash burn persists, but TTM free cash flow turned positive). Overall profile reflects early-stage execution and funding risk until revenue and consistent cash generation emerge.

Income Statement

The company remains pre-revenue (revenue is 0 across all periods), with persistent losses. Profitability is weak: net income is negative in every year shown, and TTM (Trailing-Twelve-Months) net loss is about -1.75M, though this is an improvement versus the much larger loss in 2024. Overall, the trend in losses appears to be narrowing, but the lack of revenue and continued operating losses keep the income statement profile low-quality.

Balance Sheet

Balance sheet leverage looks conservative with no debt reported and a positive equity base (about 19.9M in TTM (Trailing-Twelve-Months)). Total assets are also higher in TTM versus prior annual periods, suggesting the balance sheet has been rebuilt after earlier volatility. The key weakness is value creation: returns on equity are negative (TTM return on equity around -13%), reflecting ongoing losses despite a solid capitalization.

Cash Flow

Cash generation remains pressured by negative operating cash flow (TTM (Trailing-Twelve-Months) about -1.47M), indicating the business is still consuming cash to operate. A notable positive is that TTM (Trailing-Twelve-Months) free cash flow is positive (~0.32M), a meaningful improvement from negative free cash flow in prior annual periods. However, the sharp free-cash-flow growth swing and continuing operating cash burn point to volatility and reliance on careful spend control and/or external funding over time.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-8.28K	-5.12K	-4.51K	-6.50K	-15.99K
EBITDA	-953.14K	-5.71M	-1.70M	-875.00K	-1.58M
Net Income	-2.01M	-5.71M	-1.70M	-881.00K	-1.59M
Balance Sheet
Total Assets	11.11M	6.88M	11.70M	8.34M	7.25M
Cash, Cash Equivalents and Short-Term Investments	2.27M	945.44K	3.32M	2.38M	1.80M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	305.87K	325.16K	347.54K	283.54K	237.98K
Stockholders Equity	10.81M	6.55M	11.35M	8.06M	7.01M
Cash Flow
Free Cash Flow	-1.42M	-2.44M	-3.38M	-1.28M	-2.06M
Operating Cash Flow	-1.35M	-860.08K	-826.49K	-727.03K	-1.35M
Investing Cash Flow	-2.76M	-1.58M	-2.55M	-548.63K	-712.14K
Financing Cash Flow	5.44M	69.13K	4.32M	1.85M	2.17M

Hannan Metals Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.84
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HAN, the sentiment is Positive. The current price of 0.84 is below the 20-day moving average (MA) of 0.84, below the 50-day MA of 0.85, and below the 200-day MA of 0.93, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 51.13 is Neutral, neither overbought nor oversold. The STOCH value of 47.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:HAN.

Hannan Metals Ltd 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%
CCCM	51 Neutral	C$114.87M	-36.36	-4.33%	―	―	10.13%
HAN	49 Neutral	C$113.61M	-61.59	-21.16%	―	―	56.70%
ANDC	49 Neutral	C$181.86M	-28.35	-9.75%	―	―	85.71%
LRA	48 Neutral	C$150.61M	-42.90	-50.05%	―	―	-1816.67%
EMO	42 Neutral	C$167.94M	-12.10	-46.38%	―	―	19.55%

Hannan Metals Ltd Corporate Events

Hannan Metals Confirms Complex Mineral System in Peru as Drilling Set to Resume

Hannan Metals has reported initial results from the first-ever drill holes at the Ricardo Herrera prospect within its 100%-owned Belen project in Peru, confirming a complex, multi-phase intrusive system with early copper-molybdenum mineralization overprinted by later gold-silver events. Although grades to date are modest, the program has validated the geological potential of this emerging Miocene back-arc porphyry-epithermal belt, with six holes totaling over 2,600 metres now completed across three prospects and assays from Sortilegio still pending. Drilling is scheduled to restart in early February after a wet-season pause, with follow-up holes planned at Sortilegio and Vista Alegre to test unexplained gold-bearing boulders and geophysical anomalies, while the Previsto target has been elevated to flagship status after an expert review highlighted strong similarities to major alkaline gold deposits such as Cripple Creek and Porgera. Supported by more than C$9 million in working capital and an expanded on-the-ground geological team, Hannan is gearing up for an aggressive 2026 exploration campaign that could materially reshape its resource base and strengthen its strategic position in a potentially world-class mineral belt.

The most recent analyst rating on (TSE:HAN) stock is a Hold with a C$0.81 price target. To see the full list of analyst forecasts on Hannan Metals Ltd stock, see the TSE:HAN Stock Forecast page.

Hannan Metals Validates District-Scale Gold Opportunity at Valiente Project, Peru

Hannan Metals Ltd has reported significant advancements at its 100%-owned Valiente project in Peru. New channel sampling results at the Previsto prospect validate a continuous 1.2 km gold mineralized trend and uncover the potential for further district-scale mineralization with the identification of a new heat/fluid source. The company has only explored a fraction of the target area, revealing a prospective yet largely untapped gold system, which could enhance its position within the mining industry and solidify stakeholder confidence.

Hannan Metals Closes First Tranche of Private Placement to Fund Peruvian Projects

Hannan Metals Limited has successfully closed the first tranche of its non-brokered private placement offering, raising C$7,034,810 through the issuance of 9,379,747 common shares at a price of $0.75 per share. The funds will be used to advance exploration projects in Peru, including the Belen and Previsto gold-copper projects, and for general corporate purposes. The offering is subject to regulatory approvals and is conducted under the listed issuer financing exemption, with no hold period for the securities under Canadian law.

Hannan Metals Upsizes Private Placement to Fund Peruvian Exploration

Hannan Metals Limited has increased its non-brokered private placement offering to 14,000,000 common shares due to strong investor demand, aiming to raise C$10,500,000. The proceeds will fund exploration projects in Peru, including the Belen prospect drill program, and cover corporate expenses, with the offering expected to close by November 28, 2025, pending regulatory approvals.

Hannan Metals Announces AGM Results and Board Appointments

Hannan Metals Limited announced the results of its Annual General Meeting, where shareholders approved all proposed matters, including setting the board size to five directors and electing them, appointing Davidson & Company as auditors, and ratifying the stock option plan. The board reappointed key executives and appointed members to the Audit Committee, reinforcing the company’s governance structure.

Hannan Metals Launches Private Placement to Fund Peruvian Exploration

Hannan Metals Limited announced a non-brokered private placement financing to raise between C$4 million and C$5 million through the issuance of common shares. The funds will be used primarily for exploration activities in Peru, particularly advancing the drill program at the Belen prospect, as well as for general corporate purposes. The offering is expected to close by November 18, 2025, pending regulatory approvals, and includes potential participation from company insiders.