Irving Resources (TSE:IRV)
:IRV
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Irving Resources
(IRV)
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Rating:46Neutral
Price Target:
C$0.27
▲(19.13% Upside)
Action:ReiteratedDate:03/18/26
The score is held down primarily by weak financial performance (pre-revenue losses and ongoing negative cash flow) and bearish technical signals (below key moving averages with negative MACD). A low-leverage balance sheet and improving free-cash-flow trend provide some support, but valuation is difficult to justify with negative earnings and no dividend.
Positive Factors
Low leverage / balance-sheet flexibility
The company's very low reported leverage (~$0.12M debt vs ~$46.3M equity) provides meaningful balance-sheet flexibility to sustain exploration programs and absorb short-term cost overruns. This reduces immediate refinancing risk and preserves strategic optionality to fund drilling, partnerships, or staged development over the coming months.
Negative Factors
Pre-revenue and persistent losses
The company remains pre-revenue with a TTM net loss of about $5.4M, meaning no current operating profit engine exists. This structural lack of revenue implies sustained capital consumption until a monetizable discovery or JV is achieved, keeping profitability unrealistic in the near term and pressuring shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance-sheet flexibility
The company's very low reported leverage (~$0.12M debt vs ~$46.3M equity) provides meaningful balance-sheet flexibility to sustain exploration programs and absorb short-term cost overruns. This reduces immediate refinancing risk and preserves strategic optionality to fund drilling, partnerships, or staged development over the coming months.
Read all positive factors
Irving Resources (IRV) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$24.59M
Dividend YieldN/A
Average Volume (3M)58.88K
Price to Earnings (P/E)―
Beta (1Y)2.63
Revenue GrowthN/A
EPS Growth-165.27%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding83,355,640
10 Day Avg. Volume52,395
30 Day Avg. Volume58,884
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.46
Price to Sales (P/S)0.00
P/FCF Ratio-3.02
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
Irving Resources Business Overview & Revenue Model
Company Description
Irving Resources Inc., a junior exploration stage company, focuses on exploring gold in Japan. It also explores for silver and rare earth elements. The company holds interest in the Omui property that covers an area of 2.98 square kilometers; the ...
How the Company Makes Money
null...
Irving Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
32
Negative
| Breakdown | TTM | May 2024 | May 2023 | May 2022 | May 2021 | May 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -165.14K | -158.34K | -218.50K | -125.48K | -112.87K | -57.55K |
| EBITDA | -5.19M | -4.88M | -1.22M | -2.69M | -5.24M | -3.25M |
| Net Income | -5.37M | -5.05M | -552.18K | -2.78M | -5.37M | -3.35M |
Balance Sheet | ||||||
| Total Assets | 46.69M | 46.80M | 49.88M | 38.39M | 31.60M | 27.48M |
| Cash, Cash Equivalents and Short-Term Investments | 1.90M | 3.09M | 10.91M | 9.69M | 8.76M | 12.99M |
| Total Debt | 124.28K | 157.47K | 233.21K | 119.34K | 65.77K | 100.11K |
| Total Liabilities | 355.93K | 958.32K | 600.23K | 863.65K | 847.92K | 1.39M |
| Stockholders Equity | 46.33M | 45.84M | 49.28M | 37.53M | 30.75M | 26.09M |
Cash Flow | ||||||
| Free Cash Flow | -1.68M | -2.34M | -11.15M | -6.68M | -10.74M | -9.98M |
| Operating Cash Flow | -3.06M | -1.29M | -236.12K | -1.09M | -1.79M | -671.79K |
| Investing Cash Flow | -696.84K | -1.17M | -10.92M | -5.59M | -8.67M | -9.30M |
| Financing Cash Flow | 1.17M | 953.63K | 11.72M | 7.60M | 6.23M | 16.36M |
Irving Resources Technical Analysis
Negative
0.23
Price Trends
0.35
Negative
0.30
Positive
0.29
Positive
Market Momentum
-0.02
Negative
46.74
Neutral
49.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IRV, the sentiment is Negative. The current price of 0.23 is below the 20-day moving average (MA) of 0.32, below the 50-day MA of 0.35, and below the 200-day MA of 0.29, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 46.74 is Neutral, neither overbought nor oversold. The STOCH value of 49.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IRV.
Irving Resources 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% | |
50 Neutral | C$23.11M | -8.77 | -66.50% | ― | ― | -4.78% | |
49 Neutral | C$14.46M | -14.08 | -88.09% | ― | ― | 21.15% | |
48 Neutral | C$21.73M | -120.12 | 13.19% | ― | ― | ― | |
47 Neutral | C$90.84M | -8.34 | -30.30% | ― | ― | -296.61% | |
46 Neutral | C$24.59M | -15.84 | -11.62% | ― | ― | -165.27% | |
44 Neutral | C$19.91M | -5.20 | 856.05% | ― | ― | -51.94% |
* Basic Materials Sector Average
TSE:IRV
Irving Resources
0.30
0.09
47.50%
TSE:IGO
Independence Gold
0.09
-0.07
-43.75%
TSE:PRG
Precipitate Gold
0.47
0.40
623.08%
TSE:RDU
Radius Gold
0.13
0.02
13.64%
TSE:SWA
Sarama Resources
0.04
<0.01
22.86%
TSE:NBRK
New Break Resources Ltd.
0.35
0.27
337.50%
Irving Resources Corporate Events
Business Operations and Strategy
Irving Resources Outlines Epithermal Gold-Silver Trend at Shika Prospect on Japan’s Noto Peninsula
Positive
Mar 18, 2026
Irving Resources has reported new assay results from its Shika epithermal gold-silver prospect on Japan’s Noto Peninsula, where its stream-sediment and follow-up rock and soil sampling have outlined a mineralized corridor around the historic...
Business Operations and Strategy
Irving Reports High-Grade Gold Hit and Eyes Expanded Drilling at Yamagano JV
Positive
Mar 2, 2026
Irving Resources reported high-grade gold intercepts from drill hole 25SY-003 at the Yamagano joint venture in Kyushu, highlighted by narrow but rich veins that suggest the East Yamagano structures may connect with the main Yamagano vein system to...
Business Operations and StrategyPrivate Placements and Financing
Irving Resources Raises $3.9 Million in Completed Private Placement
Positive
Feb 26, 2026
Irving Resources has closed the final tranche of its previously announced non-brokered private placement, raising $1,775,000 in the second tranche through the issuance of 7,100,000 units at $0.25 per unit. Each unit comprises one common share and ...
Business Operations and StrategyPrivate Placements and Financing
Irving Resources Raises $2.15 Million in First Tranche of Private Placement
Positive
Feb 12, 2026
Irving Resources Inc. has closed the first tranche of its non-brokered private placement, raising gross proceeds of $2.15 million through the issuance of 8.6 million units at $0.25 per unit, each comprising one common share and half of a share pur...
Business Operations and StrategyPrivate Placements and Financing
Irving Resources Doubles Private Placement to $4 Million for Japanese Gold Exploration
Positive
Jan 26, 2026
Irving Resources Inc. has doubled the size of its previously announced non-brokered private placement, increasing the offering from $2 million to $4 million. The financing will be carried out through the sale of units at $0.25 each, with every uni...
Business Operations and StrategyPrivate Placements and Financing
Irving Resources Launches $2 Million Non-Brokered Private Placement for Japanese Gold Exploration
Positive
Jan 22, 2026
Irving Resources Inc. plans to raise approximately $2 million through a non-brokered private placement of units priced at $0.25, each comprising one common share and half a warrant exercisable at $0.35 for three years. The funds are earmarked for ...
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.