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Harfang Exploration
(HAR)
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Rating:46Neutral
Price Target:
C$0.04
▼(-45.00% Downside)
Action:Reiterated
Date:06/20/26
The score is held down primarily by very weak profitability and significant negative free cash flow, despite improving revenue. A low-debt balance sheet helps reduce financial risk, while technicals are mixed (near-term slightly firmer but still below longer-term trend) and valuation signals are constrained by negative earnings and no indicated dividend.
Positive Factors
Low Leverage / Balance Sheet Strength
A very light debt load materially reduces solvency and refinancing risk for an exploration company. This financial flexibility allows Harfang to continue funding exploration activities, pursue project options or partnerships, and withstand commodity-cycle volatility without immediate pressure to monetize assets or dilute shareholders.
Negative Factors
Persistent Operating Losses
Sustained sizeable operating and net losses indicate the company currently destroys economic value and lacks profitable operations. Over the medium term this depresses returns, erodes equity, limits reinvestment capacity, and increases reliance on external capital, which can dilute existing shareholders and constrain project progression.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Balance Sheet Strength
A very light debt load materially reduces solvency and refinancing risk for an exploration company. This financial flexibility allows Harfang to continue funding exploration activities, pursue project options or partnerships, and withstand commodity-cycle volatility without immediate pressure to monetize assets or dilute shareholders.
Read all positive factors
Harfang Exploration (HAR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.52M
Dividend YieldN/A
Average Volume (3M)238.40K
Price to Earnings (P/E)―
Beta (1Y)1.94
Revenue GrowthN/A
EPS Growth26.86%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.03
Shares Outstanding100,435,715
10 Day Avg. Volume401,740
30 Day Avg. Volume238,402
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.46
Price to Sales (P/S)194.62
P/FCF Ratio-2.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Harfang Exploration Business Overview & Revenue Model
Company Description
Harfang Exploration Inc., an exploration and evaluation stage company, engages in acquiring and exploring mineral properties in Canada. It primarily explores for gold, lithium, silver, chromium, platinum, palladium, nickel, and copper deposits. Th...
How the Company Makes Money
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Harfang Exploration Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jan 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.94K | 32.53K | 0.00 | 3.28K | 8.16K | 76.00 |
| Gross Profit | 10.55K | -3.15K | -39.88K | 3.28K | 8.16K | -507.00 |
| EBITDA | -2.76M | -2.65M | -2.70K | -3.94M | -4.53M | -2.30M |
| Net Income | -2.41M | -2.56M | -2.13K | -3.53M | -3.41M | -1.66M |
Balance Sheet | ||||||
| Total Assets | 13.17M | 14.27M | 15.86M | 17.19M | 8.92M | 10.02M |
| Cash, Cash Equivalents and Short-Term Investments | 755.66K | 2.09M | 3.92M | 7.41M | 7.26M | 8.68M |
| Total Debt | 34.26K | 36.55K | 110.42K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 297.23K | 496.09K | 340.34K | 198.69K | 931.35K | 1.30M |
| Stockholders Equity | 12.88M | 13.77M | 15.52M | 16.99M | 7.99M | 8.72M |
Cash Flow | ||||||
| Free Cash Flow | -3.17M | -3.02M | -2.19M | -4.50M | -4.13M | -2.20M |
| Operating Cash Flow | -3.13M | -2.80M | -2.03M | -4.14M | -4.09M | -1.96M |
| Investing Cash Flow | -80.15K | -100.70K | -1.00M | 252.27K | -356.18K | -231.28K |
| Financing Cash Flow | 1.08M | 1.07M | 520.32K | 4.04M | 3.03M | 7.92M |
Harfang Exploration Technical Analysis
Negative
0.08
Price Trends
0.05
Negative
0.06
Negative
0.07
Negative
Market Momentum
>-0.01
Positive
37.13
Neutral
<0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HAR, the sentiment is Negative. The current price of 0.08 is above the 20-day moving average (MA) of 0.05, above the 50-day MA of 0.05, and above the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 37.13 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:HAR.
Harfang Exploration Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | C$5.32M | 1.47 | 67.36% | ― | ― | ― | |
51 Neutral | C$6.12M | -58.33 | -8.37% | ― | ― | 44.83% | |
46 Neutral | C$4.52M | -1.95 | -18.13% | ― | ― | 26.86% | |
40 Underperform | C$5.12M | -1.46 | -34.89% | ― | ― | 20.37% |
* Basic Materials Sector Average
TSE:HAR
Harfang Exploration
0.05
-0.04
-41.18%
TSE:XTM
Transition Metals
0.06
-0.01
-14.29%
TSE:VERT
Vertical Exploration Inc
0.04
-0.02
-30.00%
TSE:PRR
Prospect Ridge Resources Corp.
0.05
>-0.01
-9.09%
Harfang Exploration Corporate Events
Business Operations and Strategy
Harfang Advances James Bay and Ontario Portfolio With Winter Exploration Milestones
Positive
Apr 16, 2026
Harfang Exploration has wrapped up a productive winter campaign across four Canadian projects, highlighted by a maiden 1,300-metre diamond drilling program at the Mista Cu-Au-Ag target on its Serpent property in Québec. Preliminary core loggi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.