Meridian Mining SE (TSE:MNO)
TSX:MNO
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Meridian Mining SE
(TSX:MNO)
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Rating:43Neutral
Price Target:
C$1.50
▼(-22.28% Downside)
Action:ReiteratedDate:03/29/26
The score is driven primarily by very weak financial performance (minimal revenue, persistent losses, and multi-year cash burn), only partially offset by the lack of debt. Technicals also remain soft with bearish momentum and price below key moving averages. Valuation is constrained by negative earnings (negative P/E) and no dividend support.
Positive Factors
Debt-free balance sheet
The company’s lack of debt reduces solvency risk and eliminates interest expense, giving management flexibility to allocate scarce cash to exploration or development. Over 2–6 months this improves survival prospects and lowers default risk versus indebted peers if financing markets tighten.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow from 2020–2025 indicates persistent cash burn and ongoing dependence on external financing. This creates dilution risk, constrains capital allocation to projects, and limits ability to withstand commodity or funding stress over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The company’s lack of debt reduces solvency risk and eliminates interest expense, giving management flexibility to allocate scarce cash to exploration or development. Over 2–6 months this improves survival prospects and lowers default risk versus indebted peers if financing markets tighten.
Read all positive factors
Meridian Mining SE (MNO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$717.27M
Dividend YieldN/A
Average Volume (3M)649.08K
Price to Earnings (P/E)―
Beta (1Y)2.19
Revenue GrowthN/A
EPS Growth25.64%
CountryCA
Employees73
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding419,458,340
10 Day Avg. Volume906,033
30 Day Avg. Volume649,079
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)9.61
Price to Sales (P/S)0.00
P/FCF Ratio-27.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.00Price Target Upside55.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.03
Revenue Forecast (FY)N/A
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 Esp...
How the Company Makes Money
null...
Meridian Mining SE Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -211.16K | -73.92K | -62.45K | -133.00K | -48.02K |
| EBITDA | -18.30M | -18.00M | -11.75M | 1.15M | -9.38M |
| Net Income | -17.30M | -18.23M | -11.99M | 800.11K | -37.58M |
Balance Sheet | |||||
| Total Assets | 46.04M | 11.23M | 17.45M | 15.25M | 16.19M |
| Cash, Cash Equivalents and Short-Term Investments | 41.63M | 7.71M | 7.10M | 6.17M | 9.06M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.19M | 2.04M | 2.43M | 3.63M | 19.90M |
| Stockholders Equity | 42.85M | 9.19M | 15.02M | 11.62M | -3.72M |
Cash Flow | |||||
| Free Cash Flow | -15.08M | -12.83M | -11.87M | -9.30M | -7.45M |
| Operating Cash Flow | -14.87M | -12.12M | -10.60M | -9.05M | -6.49M |
| Investing Cash Flow | -939.23K | -704.31K | -1.26M | -173.68K | -941.67K |
| Financing Cash Flow | 49.50M | 14.06M | 12.71M | 6.61M | 12.00M |
Meridian Mining SE Technical Analysis
Positive
1.93
Price Trends
1.75
Positive
1.66
Positive
1.34
Positive
Market Momentum
0.04
Negative
67.04
Neutral
92.34
Negative
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 1.93 is above the 20-day moving average (MA) of 1.69, above the 50-day MA of 1.75, and above the 200-day MA of 1.34, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 67.04 is Neutral, neither overbought nor oversold. The STOCH value of 92.34 is Negative, 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
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% | |
47 Neutral | C$958.63M | -52.77 | -47.15% | ― | ― | -21.97% | |
45 Neutral | C$898.33M | -12.89 | -89.56% | ― | ― | 0.34% | |
44 Neutral | C$810.01M | -236.09 | -1.62% | ― | ― | 58.45% | |
44 Neutral | C$558.08M | -36.21 | -18.01% | ― | ― | 41.21% | |
43 Neutral | C$717.27M | -23.80 | -54.47% | ― | ― | 25.64% | |
43 Neutral | C$474.46M | -55.66 | -8.12% | ― | ― | -603.10% |
* Basic Materials Sector Average
TSE:MNO
Meridian Mining SE
1.71
1.03
151.47%
TSE:WRN
Western Copper
3.59
2.07
136.18%
TSE:NCX
NorthIsle Copper and Gold
2.89
2.15
290.54%
TSE:FWZ
Fireweed Zinc
4.26
2.46
136.67%
TSE:ALDE
Aldebaran Resources Inc
2.56
0.84
48.84%
TSE:NICU
Magna Mining
2.23
0.83
59.29%
Meridian Mining SE Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Meridian Uses Fresh Financing to Fast-Track Cabaçal Restart and Exploration Push
Positive
Feb 17, 2026
Meridian Mining plc is a metals exploration and development company focused on advancing the Cabaçal gold-copper-silver project in Brazil. The group is also building a wider pipeline of copper, gold, silver, zinc, and lead targets across seve...
Business Operations and StrategyPrivate Placements and Financing
Meridian Mining Raises C$57.5 Million to Accelerate Cabaçal Growth Strategy
Positive
Feb 12, 2026
Meridian Mining has closed a C$57.5 million bought deal financing, issuing over 36 million common shares at C$1.58 each, including full exercise of the underwriters’ over-allotment option, with participation from an insider under Canadian re...
Business Operations and StrategyPrivate Placements and Financing
Meridian Mining Upsizes Bought Deal Financing to C$50 Million to Advance Brazilian Gold-Copper Projects
Positive
Feb 4, 2026
Meridian Mining has upsized its previously announced bought deal equity financing to C$50 million following strong investor demand, with underwriters Stifel Canada and BMO Capital Markets now agreeing to purchase 31.6 million common shares at C$1....
Business Operations and StrategyPrivate Placements and Financing
Meridian Mining Locks in C$40 Million Bought Deal for Brazilian Projects
Positive
Feb 4, 2026
Meridian Mining plans to raise roughly C$40 million through a bought-deal sale of 25.3 million shares at C$1.58, with underwriters holding a 15% over-allotment option that could lift proceeds to about C$46 million and closing expected around Febru...
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.