Iconic Minerals Ltd (TSE:ICM)
:ICM
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Iconic Minerals
(ICM)
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Rating:42Neutral
Price Target:
C$0.06
▼(-65.88% Downside)
Action:Reiterated
Date:06/10/26
The score is primarily constrained by weak financial performance (pre-revenue, persistent losses and negative free cash flow) despite a debt-free balance sheet. Technicals add further downside pressure with the price below all key moving averages and a negative MACD. Valuation provides limited support because the negative P/E reflects ongoing losses and no dividend yield data is available.
Positive Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces near-term refinancing and interest obligations, giving management flexibility to fund exploration via equity or partnerships. For a capital-intensive junior explorer, a debt-free position preserves optionality and lowers fixed financial risk over the coming months.
Negative Factors
Pre-Revenue Profile
The company generates no operating revenue, leaving it dependent on external capital and subject to execution risk: exploration must translate into resources or transactional deals to create sustainable revenue. This structural lack of core cash generation challenges long-term viability absent successful milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces near-term refinancing and interest obligations, giving management flexibility to fund exploration via equity or partnerships. For a capital-intensive junior explorer, a debt-free position preserves optionality and lowers fixed financial risk over the coming months.
Read all positive factors
Iconic Minerals (ICM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.15M
Dividend YieldN/A
Average Volume (3M)179.55K
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue GrowthN/A
EPS Growth-823.08%
CountryCA
Employees10
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding185,759,050
10 Day Avg. Volume173,398
30 Day Avg. Volume179,550
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)32.60
Price to Sales (P/S)0.00
P/FCF Ratio-20.86
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
Iconic Minerals Business Overview & Revenue Model
Company Description
Iconic Minerals Ltd. is a mineral exploration company dedicated to the discovery and development of gold and lithium deposits across Nevada and Canada. In Nevada, the company maintains a diverse portfolio of holdings. This includes outright owners...
How the Company Makes Money
null...
Iconic Minerals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
54
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Aug 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
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 | -1.90M | -291.13K | -712.00K | -1.94M | -768.60K | -1.08M |
| Net Income | -1.86M | -291.12K | -2.28M | 17.58M | -1.05M | -1.21M |
Balance Sheet | ||||||
| Total Assets | 4.27M | 1.79M | 2.13M | 4.26M | 9.01M | 7.04M |
| Cash, Cash Equivalents and Short-Term Investments | 2.65M | 316.87K | 403.66K | 2.41M | 137.39K | 1.53M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 1.65M | 1.83M |
| Total Liabilities | 683.50K | 1.42M | 1.52M | 1.39M | 7.45M | 4.58M |
| Stockholders Equity | 3.59M | 362.23K | 610.66K | 2.87M | 1.57M | 2.47M |
Cash Flow | ||||||
| Free Cash Flow | -1.51M | -566.18K | -222.80K | -3.32M | -1.04M | -1.26M |
| Operating Cash Flow | -1.51M | -566.18K | -222.80K | -3.32M | 1.70M | 29.60K |
| Investing Cash Flow | -8.25K | 324.67K | -60.42K | -160.15K | -174.70K | 579.73K |
| Financing Cash Flow | 3.98M | 387.50K | 0.00 | -16.54K | -316.18K | 1.64M |
Iconic Minerals Technical Analysis
Negative
0.17
Price Trends
0.09
Negative
0.11
Negative
0.12
Negative
Market Momentum
>-0.01
Negative
30.81
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ICM, the sentiment is Negative. The current price of 0.17 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.09, and above the 200-day MA of 0.12, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 30.81 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ICM.
Iconic Minerals 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% | |
45 Neutral | C$18.74M | -10.82 | -58.36% | ― | ― | 48.53% | |
44 Neutral | C$17.17M | -5.58 | -206.46% | ― | ― | 1.00% | |
44 Neutral | C$27.75M | -8.55 | -317.29% | ― | ― | 59.96% | |
44 Neutral | C$21.20M | -2.19 | -446.15% | ― | ― | -148.89% | |
42 Neutral | C$11.15M | -4.90 | -59.85% | ― | ― | -823.08% |
* Basic Materials Sector Average
TSE:ICM
Iconic Minerals
0.06
<0.01
9.09%
TSE:BARU
Baru Gold
0.05
-0.05
-50.00%
TSE:DLTA
Delta Resources
0.17
0.07
61.90%
TSE:OMM
Omineca Mining and Metals
0.07
0.02
40.00%
TSE:OCI
Orefinders Resources
0.13
0.06
91.18%
TSE:KALO
Kalo Gold Holdings
0.18
-0.14
-43.75%
Iconic Minerals Corporate Events
Business Operations and Strategy
Iconic Minerals, McEwen Mining Seal 50/50 JV to Expand Nevada’s New Pass Gold Resource
Positive
Apr 15, 2026
Iconic Minerals has formalized a 50/50 joint venture with McEwen Mining to advance the 2,140-hectare New Pass gold property in Nevada, a Carlin-type system with an established inferred gold-silver resource that remains open along strike and at dep...
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.