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Maritime Resources (TSE:MAE)
:MAE
Canadian Market

Maritime Resources (MAE) AI Stock Analysis

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Maritime Resources

(MAE)

56Neutral
The overall score reflects the early-stage nature of Maritime Resources, with financial challenges from lack of revenue and negative cash flow. However, the technical indicators and promising drill results offer positive momentum and potential future growth, balancing the financial risks. The valuation remains a concern due to negative earnings.

Maritime Resources (MAE) vs. S&P 500 (SPY)

Maritime Resources Business Overview & Revenue Model

Company DescriptionMaritime Resources (MAE) is a Canadian-based exploration and development company focused on gold mining. The company operates in the natural resources sector, primarily engaged in the acquisition, exploration, and development of mineral properties. Its core assets include the Hammerdown Gold Project, located in Newfoundland and Labrador, Canada, which is a historic high-grade past-producing mine with potential for near-term production.
How the Company Makes MoneyMaritime Resources makes money through the exploration and development of its mineral properties, with a primary focus on gold. The company's revenue model involves advancing its projects towards production, which includes conducting feasibility studies, securing necessary permits, and developing mining operations. Once operational, the company generates revenue from the sale of extracted gold and other precious metals. Significant partnerships with other mining companies, investors, and stakeholders can provide additional funding and resources to support the development of its projects, contributing to its earnings potential.

Maritime Resources Financial Statement Overview

Summary
Maritime Resources is in the early stages typical for mining companies, with zero revenue leading to negative margins and high operational costs. The balance sheet is moderately strong with a reasonable equity ratio but indicates reliance on external debt. Negative cash flows underscore financial constraints and the need for revenue generation.
Income Statement
15
Very Negative
Maritime Resources has consistently reported zero revenue, which is typical for many mining companies still in exploration or development phases. The lack of revenue results in negative margins, with a significant net loss indicating high operational and exploration expenses outweighing any revenues. The absence of revenue growth highlights the early stage or challenges in production ramp-up.
Balance Sheet
40
Negative
The company's balance sheet shows a reasonable level of stockholders' equity relative to total assets, indicating a strong equity ratio. However, the presence of debt, albeit manageable relative to equity, suggests reliance on external financing. This can pose risks if not managed properly, especially for a company without current operational revenues.
Cash Flow
25
Negative
Maritime Resources exhibits negative free and operating cash flow, signifying cash outflows exceeding inflows, which could be typical for development-stage mining companies. The negative free cash flow growth indicates an increase in capital expenditures and operational costs, necessitating financing cash inflows to sustain operations.
Breakdown
TTMDec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income StatementTotal Revenue
0.000.000.000.000.000.00
Gross Profit
-268.23K-170.17K-171.28K-82.61K-27.05K-63.98K
EBIT
-3.87M-2.20M-1.92M-1.61M-1.30M-1.01M
EBITDA
-3.52M-2.31M-1.50M-1.53M-1.27M-945.88K
Net Income Common Stockholders
-5.59M-2.54M-1.79M-1.62M-1.30M-2.01M
Balance SheetCash, Cash Equivalents and Short-Term Investments
2.36M1.06M2.50M4.34M6.42M1.83M
Total Assets
10.19M52.93M39.91M38.09M26.16M14.08M
Total Debt
0.005.64M389.86K417.65K43.15K10.36K
Net Debt
-2.36M4.59M-2.11M-3.92M-6.38M-1.82M
Total Liabilities
250.18K13.95M2.03M2.18M1.26M511.03K
Stockholders Equity
9.94M38.97M37.88M35.91M24.89M13.57M
Cash FlowFree Cash Flow
-5.06M-2.30M-7.06M-4.70M-1.51M-2.31M
Operating Cash Flow
-4.25M-2.30M-1.86M-1.87M-1.50M-2.28M
Investing Cash Flow
-1.42M-6.46M-3.33M-12.36M-6.63M-3.81M
Financing Cash Flow
9.86M7.12M3.56M12.15M12.72M5.56M

Maritime Resources Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.08
Price Trends
50DMA
0.08
Positive
100DMA
0.07
Positive
200DMA
0.06
Positive
Market Momentum
MACD
<0.01
Positive
RSI
62.91
Neutral
STOCH
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAE, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.08, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 62.91 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MAE.

Maritime Resources Peers Comparison

Overall Rating
UnderperformOutperform
Sector (47)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
TSAEM
80
Outperform
$72.92B27.919.42%1.59%26.99%-6.63%
TSKNT
75
Outperform
C$2.43B23.2720.56%64.92%185.22%
TSMAE
56
Neutral
C$62.94M-13.30%-111.36%
47
Neutral
$2.64B-3.82-29.05%3.32%2.72%-29.50%
TSNRN
37
Underperform
C$3.20M-87.04%-270.64%
TSBTR
31
Underperform
C$36.72M-91.29%7.15%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:MAE
Maritime Resources
0.08
0.04
100.00%
TSE:AEM
Agnico Eagle
145.22
71.42
96.77%
TSE:NRN
Northern Shield Resources
0.04
0.01
33.33%
TSE:KNT
K92 Mining
10.31
3.76
57.40%
TSE:BTR
BonTerra Resources
0.22
-0.02
-8.33%

Maritime Resources Corporate Events

Product-Related AnnouncementsBusiness Operations and Strategy
Maritime Resources Announces Promising Drill Results from Hammerdown Project
Positive
Jan 27, 2025

Maritime Resources Corp. has announced promising initial drill results from its Hammerdown Gold Project, indicating high-grade gold mineralization. The results, which include significant gold grades over several metres, suggest the potential for quick cash flow generation as the company progresses towards developing the open pit project. The ongoing grade control drill program is a key step in de-risking the project and preparing for mining operations, with further potential for resource expansion identified in the mineralized zones.

Maritime Resources Sells Lac Pelletier Project to Emperor Metals
Jan 8, 2025

Maritime Resources Corp. has announced the sale of its Lac Pelletier gold project to Emperor Metals Inc., marking a strategic move to divest non-core assets and focus on core projects in Newfoundland and Labrador. This transaction, which involves Maritime receiving 12.5 million shares of Emperor, strengthens Emperor’s exploration capabilities in the Abitibi greenstone belt, highlighting Maritime’s shift towards being an investor while enhancing shareholder value.

Maritime Resources Advances Pine Cove Mill Restart
Dec 11, 2024

Maritime Resources Corp. has begun crushing mineralized stockpiles at its Pine Cove gold processing facility in Newfoundland and Labrador, with plans to re-commission the mill by January 2025. The company aims to process 85,000-115,000 tonnes of stockpiled material, estimated to contain 3,000 to 4,000 ounces of gold. Recruitment for key positions is nearly complete as the company prepares for the mill’s restart.

Maritime Resources Reveals High-Grade Gold at Hammerdown
Nov 27, 2024

Maritime Resources Corp has uncovered high-grade gold mineralization at its Hammerdown Gold Project in Newfoundland, with trench samples revealing impressive gold grades. This discovery supports the potential for low-cost, high-margin cash flow as the company prepares to bring its Pine Cove mill back online.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.