HPQ-Silicon Resources Inc (TSE:HPQ)
:HPQ
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HPQ-Silicon Resources
(HPQ)
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Rating:44Neutral
Price Target:
C$0.18
▲(2.22% Upside)
Action:UpgradedDate:12/30/25
The score is primarily constrained by weak financial performance (no revenue, recurring losses, cash burn, and negative equity). Technical indicators also lean bearish (below key moving averages and negative MACD). Positive corporate milestones and financing provide some support, but they remain early-stage relative to the current fundamentals.
Positive Factors
Market-facing tech for high-purity silicon (battery anodes)
HPQ’s core focus on producing high-purity silicon and downstream silicon materials aligns with durable structural demand from electrification and battery supply-chains. If commercialized, the technology can support recurring product sales, licensing, or partner monetization, creating multiple long-term revenue avenues beyond one-off project sales.
Negative Factors
No reported revenue and persistent net losses
The absence of reported commercial revenue means the business model is still pre-revenue, leaving future profitability dependent on successful scale-up and market adoption. Persistent multi-year losses erode retained capital and increase execution risk, making long-term sustainability contingent on securing recurring sales or licensing.
Read all positive and negative factors
Positive Factors
Negative Factors
Market-facing tech for high-purity silicon (battery anodes)
HPQ’s core focus on producing high-purity silicon and downstream silicon materials aligns with durable structural demand from electrification and battery supply-chains. If commercialized, the technology can support recurring product sales, licensing, or partner monetization, creating multiple long-term revenue avenues beyond one-off project sales.
Read all positive factors
HPQ-Silicon Resources (HPQ) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$84.86M
Dividend YieldN/A
Average Volume (3M)386.55K
Price to Earnings (P/E)―
Beta (1Y)0.13
Revenue GrowthN/A
EPS Growth50.72%
CountryCA
Employees5
SectorTechnology
Sector Strength88
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding471,422,030
10 Day Avg. Volume355,897
30 Day Avg. Volume386,548
Financial Highlights & Ratios
PEG Ratio108.88
Price to Book (P/B)-19.20
Price to Sales (P/S)0.00
P/FCF Ratio-52.42
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
HPQ-Silicon Resources Business Overview & Revenue Model
Company Description
HPQ Silicon Inc., together with its subsidiaries, provides silica and silicon-based solutions in Canada. It is also developing a portfolio of silicon products primarily for battery and electric vehicle manufacturers. The company engages in develop...
How the Company Makes Money
HPQ-Silicon Resources generates revenue primarily through the production and sale of high-purity silicon materials. The company's revenue model is centered around its proprietary technology, which allows for the efficient and cost-effective produc...
HPQ-Silicon Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -649.65K | -2.22M | -2.61M | -2.18M | -234.02K | -38.86K |
| EBITDA | -6.00M | -3.41K | -6.26M | -4.17M | -5.56M | -1.05M |
| Net Income | -6.76M | -8.20K | -16.49M | -11.44M | -6.33M | -804.37K |
Balance Sheet | ||||||
| Total Assets | 4.75M | 4.81M | 9.06M | 21.61M | 21.72M | 17.66M |
| Cash, Cash Equivalents and Short-Term Investments | 1.35M | 1.00M | 1.27M | 1.85M | 3.34M | 2.61M |
| Total Debt | 52.09K | 8.06K | 18.88K | 28.37K | 0.00 | 1.26M |
| Total Liabilities | 4.68M | 8.66M | 7.23M | 7.09M | 3.39M | 5.17M |
| Stockholders Equity | -795.48K | -4.65M | 1.25M | 14.39M | 18.33M | 12.49M |
Cash Flow | ||||||
| Free Cash Flow | -1.90M | -1.70M | -1.53M | -6.12M | -6.61M | -4.49M |
| Operating Cash Flow | -1.87M | -1.69M | -1.26M | -4.88M | -2.41M | -1.05M |
| Investing Cash Flow | 430.43K | 1.10M | -1.13M | -1.49M | -4.20M | -3.44M |
| Financing Cash Flow | 1.46M | 672.81K | 1.84M | 4.82M | 7.39M | 6.30M |
HPQ-Silicon Resources Technical Analysis
Negative
0.18
Price Trends
0.20
Negative
0.19
Negative
0.18
Positive
Market Momentum
>-0.01
Positive
42.16
Neutral
23.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HPQ, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.20, and above the 200-day MA of 0.18, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.16 is Neutral, neither overbought nor oversold. The STOCH value of 23.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HPQ.
HPQ-Silicon Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | C$67.10M | 10.45 | 6.47% | ― | 1.04% | 107.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
44 Neutral | C$84.86M | -27.31 | 430.96% | ― | ― | 50.72% | |
| ― | C$22.01M | -15.13 | -5.19% | ― | ― | 93.75% | |
61 Neutral | C$130.32M | 4.70 | 15.34% | ― | -73.34% | 16.21% | |
51 Neutral | C$65.12M | -60.96 | -3.27% | ― | ― | ― | |
48 Neutral | C$98.78M | -6.66 | -188.17% | ― | ― | -38.68% |
* Technology Sector Average
TSE:HPQ
HPQ-Silicon Resources
0.18
-0.02
-10.00%
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HPQ-Silicon Resources Corporate Events
Business Operations and StrategyPrivate Placements and Financing
HPQ Silicon Lifts Novacium Stake to 36.8% to Capture More Global Upside
Positive
Feb 3, 2026
HPQ Silicon Inc. has increased its equity stake in French technology partner Novacium SAS by 8.4 percentage points, raising its ownership from 28.4% to 36.8% through the issuance of 22.4 million common shares at a deemed price of C$0.18 per share,...
Business Operations and StrategyProduct-Related Announcements
HPQ Pilot Plant Hits Commercial-Grade Milestone for Plasma-Produced Fumed Silica
Positive
Jan 30, 2026
HPQ Silicon Inc. announced that its fumed silica reactor pilot plant has successfully produced fumed silica independently verified by a potential customer as meeting or exceeding commercial grade 150 standards, including specific surface area and ...
Business Operations and StrategyProduct-Related Announcements
HPQ Silicon Wins Key IEC Safety Certification, Clearing Path to Global Battery Sales
Positive
Jan 15, 2026
HPQ Silicon and its French partner Novacium have secured IEC 62133 certification for their cylindrical 18650 and 21700 ENDURA+ lithium-ion cells, adding to existing UN 38.3 and UL 1642 approvals and completing the core suite of globally recognized...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
HPQ Silicon Wins Key Global Safety Certification for ENDURA+ Li-Ion Cells
Positive
Jan 15, 2026
HPQ Silicon and its French technology partner Novacium have secured IEC 62133 certification for their cylindrical 18650 and 21700 ENDURA+ lithium-ion battery cells, confirming compliance with one of the most widely recognized international safety ...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
HPQ Silicon Wins UL 1642 Safety Approval, Paving Way for U.S. Sales of ENDURA+ Lithium-Ion Cells
Positive
Jan 8, 2026
HPQ Silicon has secured UL 1642 certification for its HPQ ENDURA+ 18650 and 21700 lithium-ion cells, confirming compliance with the core safety standards required for commercial acceptance in the U.S. market. Together with its previously obtained ...
Business Operations and StrategyProduct-Related Announcements
HPQ Silicon Sharpens Commercial Focus as Fumed Silica and Battery Platforms Advance in 2025
Positive
Dec 31, 2025
In its 2025 year-end update, HPQ Silicon reported a strategic shift from broad research and development toward a more execution-driven focus on commercializing its most advanced platforms in fumed silica and silicon-based battery materials. The co...
Business Operations and StrategyProduct-Related Announcements
HPQ Silicon Achieves UN 38.3 Certification for Global Shipment of ENDURA+ Cells
Positive
Dec 16, 2025
HPQ Silicon Inc. has achieved UN 38.3 certification for its high-performance lithium-ion cells in the HPQ ENDURA+ line, specifically the 18650 and 21700 formats. This certification allows the company to proceed with global commercial shipments, ma...
Business Operations and StrategyPrivate Placements and Financing
HPQ Silicon Secures Over $1 Million to Propel Technology Commercialization
Positive
Dec 15, 2025
HPQ Silicon Inc. announced the closing of a non-brokered private placement, raising over $1 million to advance its core technology platforms. The funds will support commercialization initiatives for its Fumed Silica Reactor, HPQ ENDURA+ cells, and...
Business Operations and StrategyProduct-Related Announcements
HPQ Silicon Partners with AD-VENTA to Boost Green Hydrogen Production
Positive
Dec 4, 2025
HPQ Silicon Inc. and its partner Novacium have signed an industrial cooperation agreement with AD-VENTA to enhance the production capacity of the METAGENE™ process for green hydrogen. This partnership aims to scale up the METAGENE™ tec...
Business Operations and StrategyPrivate Placements and Financing
HPQ Silicon Secures $306,120 in Private Placement to Advance Battery Initiatives
Positive
Nov 24, 2025
HPQ Silicon Inc. announced the successful closure of a non-brokered private placement, raising $306,120 through the issuance of 1,883,815 common shares. This financing, completed with a European investment firm, will support HPQ’s general wo...
Business Operations and StrategyProduct-Related Announcements
HPQ Silicon Achieves Milestone in Sustainable Fumed Silica Production
Positive
Nov 12, 2025
HPQ Silicon Inc. announced a significant milestone with the successful production of commercial-grade fumed silica at pilot scale, validated by independent laboratory analysis. The results demonstrate improved purity and surface area, confirming t...
Business Operations and Strategy
HPQ Silicon Embraces Canada’s 2025 Federal Budget for Clean-Tech Growth
Positive
Nov 6, 2025
HPQ Silicon Inc. welcomes Canada’s 2025 Federal Budget, which allocates $141 billion towards enhancing industrial capacity, clean-energy infrastructure, and commercialization of next-generation technologies. The budget’s emphasis on pr...
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.