Meridian Mining SE (MNO) AI Stock Analysis

• Market Cap: C$611.21M
• Dividend Yield: N/A
• Average Volume (3M): 649.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.05
• Revenue Growth: N/A
• EPS Growth: -23.64%
• Country: CA
• Employees: 73
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 418,634,770
• 10 Day Avg. Volume: 906,033
• 30 Day Avg. Volume: 649,079
• PEG Ratio: -0.19
• Price to Book (P/B): 8.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$2.75
• Price Target Upside: 85.81% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$1.50 ▲(1.35% Upside)

The score is held back primarily by very weak financial performance (no reported revenue, sizeable losses, and ongoing cash burn), partially offset by a debt-free balance sheet with improved equity. Technicals and recent positive project/regulatory milestones support near-term sentiment, but valuation is constrained by negative earnings and the lack of a dividend yield.

Positive Factors

High-Grade Mineral Discoveries

The discovery of high-grade mineral zones at Cabaçal enhances the project's resource potential, positioning Meridian for future growth and strengthening its competitive advantage in the mining industry.

Strong Economic Potential of Cabaçal Project

The Cabaçal project's strong economic metrics indicate high-margin potential, promising substantial returns and positioning it as a significant asset in Brazil's mining sector.

Successful Capital Raise

The successful capital raise provides financial resources to advance the Cabaçal project, supporting exploration and development, and demonstrating strong investor confidence in Meridian's growth potential.

Negative Factors

No Revenue and Persistent Losses

The absence of revenue and ongoing losses highlight operational challenges, undermining financial stability and limiting the company's ability to self-fund its projects.

Negative Cash Flows

Consistently negative cash flows indicate reliance on external financing, which can strain resources and limit flexibility, posing a risk to long-term sustainability.

Weak Financial Health

Weak financial health, despite low leverage, suggests vulnerability to market fluctuations and operational setbacks, potentially impacting long-term strategic initiatives.

Meridian Mining SE Business Overview & Revenue Model

Company Description

Meridian Mining UK Societas, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. The company explores for manganese, gold, copper, and tin deposits. It holds interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia. The company also has an option to acquire a 100% interest in the Cabaçal copper-gold project located in the state of Mato Grosso; and the Mirante da Serra project located in Rondônia. The company was formerly known as Meridian Mining S.E. Meridian Mining UK Societas was founded in 2013 and is headquartered in London, the United Kingdom.

How the Company Makes Money

Meridian Mining SE generates revenue through the exploration and development of its mineral resource projects, primarily focusing on the Cabaçal copper-gold project in Brazil. The company aims to monetize its assets by advancing these projects towards production, either through direct mining operations or through partnerships and joint ventures with other mining companies. Revenue streams are expected to be generated from the sale of extracted minerals such as copper, gold, and potentially other associated minerals. Additionally, the company may secure funding through equity financing, debt, or strategic partnerships to support its exploration and development activities.

Meridian Mining SE Financial Statement Overview

Summary

Meridian Mining SE's financial statements show persistent losses, no revenue, and negative cash flows. Despite low leverage and positive stockholders' equity, the overall financial health is weak due to operational inefficiencies and financial instability.

Income Statement

The income statement reveals persistent losses with no revenue reported in recent years. Gross profit, EBIT, and EBITDA are all negative, indicating operational challenges. Net income has consistently been negative, showing no signs of profitability. The absence of revenue growth is a major concern, resulting in a low score.

Balance Sheet

The balance sheet shows positive stockholders' equity and no debt, indicating a low leverage position, which is a positive sign. However, the equity ratio has been fluctuating, and the company has faced negative equity in the past, posing a risk to financial stability. Despite the low leverage, the overall financial health remains weak due to sustained losses.

Cash Flow

The cash flow statement indicates negative operating and free cash flows, highlighting cash management challenges. Free cash flow has been consistently negative, with no growth in sight. While financing cash flows are positive, likely supporting operations, the reliance on external financing rather than operational cash generation is concerning.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	241.02K
Gross Profit	-200.00K	-73.92K	-62.45K	-133.00K	-48.02K	-91.37K
EBITDA	-20.23M	-18.00M	-11.75M	1.15M	-9.38M	-2.71M
Net Income	-20.45M	-18.23M	-11.99M	800.11K	-37.58M	-7.53M
Balance Sheet
Total Assets	50.28M	11.23M	17.45M	15.25M	16.19M	10.94M
Cash, Cash Equivalents and Short-Term Investments	45.64M	7.71M	7.10M	6.17M	9.06M	4.52M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	2.94M	2.04M	2.43M	3.63M	19.90M	7.71M
Stockholders Equity	47.34M	9.19M	15.02M	11.62M	-3.72M	3.22M
Cash Flow
Free Cash Flow	-13.74M	-12.83M	-11.87M	-9.30M	-7.45M	-2.22M
Operating Cash Flow	-13.27M	-12.12M	-10.60M	-9.05M	-6.49M	-2.20M
Investing Cash Flow	-446.75K	-704.31K	-1.26M	-173.68K	-941.67K	252.63K
Financing Cash Flow	48.49M	14.06M	12.71M	6.61M	12.00M	5.81M

Meridian Mining SE Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.48
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MNO, the sentiment is Positive. The current price of 1.48 is below the 20-day moving average (MA) of 1.54, below the 50-day MA of 1.49, and above the 200-day MA of 1.01, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.15 is Neutral, neither overbought nor oversold. The STOCH value of 17.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MNO.

Meridian Mining SE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ALDE	60 Neutral	C$694.23M	-76.19	-6.72%	―	―	-572.97%
NICU	55 Neutral	C$911.82M	136.29	6.21%	―	―	―
MNO	52 Neutral	C$611.21M	-17.15	-62.98%	―	―	-23.64%
WRN	52 Neutral	C$957.75M	-247.87	-1.92%	―	―	41.98%
NCX	49 Neutral	C$925.03M	-93.59	-31.51%	―	―	11.83%
FWZ	46 Neutral	C$712.76M	-14.56	-106.96%	―	―	0.74%

Meridian Mining SE Corporate Events

Meridian Mining Announces Leadership Changes and Name Update

Meridian Mining has announced key corporate updates, including the appointment of David Halkyard as Chief Financial Officer and Catherine Apthorpe as Corporate Secretary. The company has also completed its name change to Meridian Mining Plc, aligning with its conversion to a public limited company in the UK. These changes reflect Meridian’s strategic focus on advancing the Cabaçal project and its broader exploration initiatives, which are expected to enhance its market positioning and operational capabilities.

The most recent analyst rating on (TSE:MNO) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Meridian Mining SE stock, see the TSE:MNO Stock Forecast page.

Meridian Mining Secures Preliminary Licence for Cabaçal Project, Advances Santa Helena Application

Meridian Mining has achieved a significant milestone with the formalization of the Preliminary Licence for its Cabaçal Gold-Copper-Silver project in the State of Mato Grosso, Brazil. This development marks a crucial step towards restarting production in the region’s modern mining district, with the company now focusing on obtaining the Installation Licence and securing project financing. Additionally, the submission of the Preliminary Licence application for the Santa Helena project highlights Meridian’s commitment to advancing its resource development strategy and establishing the Cabaçal belt as a leading VMS mining camp in Brazil.

The most recent analyst rating on (TSE:MNO) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Meridian Mining SE stock, see the TSE:MNO Stock Forecast page.

Meridian Mining’s Cabaçal Project Receives Preliminary License Approval

Meridian Mining has received preliminary license approval for its Cabaçal Au-Cu-Ag project from Mato Grosso’s CONSEMA Council, marking a significant step toward developing the mine. This approval affirms the project’s technical merits, environmental feasibility, and social acceptance, moving it closer to being shovel-ready. The next steps include the issuance of the formal license and the submission of an installation license application, which will enable construction activities and a final investment decision. The project is expected to bring long-term socio-economic benefits to the region and strengthen Meridian’s position in the mining industry.

The most recent analyst rating on (TSE:MNO) stock is a Buy with a C$2.00 price target. To see the full list of analyst forecasts on Meridian Mining SE stock, see the TSE:MNO Stock Forecast page.