MetalQuest Mining (TSE:MQM)
:MQM
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MetalQuest Mining
(MQM)
Select Model
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Rating:45Neutral
Price Target:
C$0.25
▼(-22.19% Downside)
Action:ReiteratedDate:03/07/26
The score is held down primarily by weak financial performance—ongoing operating losses, no reported revenue, and sustained negative operating/free cash flow—despite a clean, low-leverage balance sheet. Technicals also lean bearish with price below key moving averages and negative MACD, while valuation is modestly supportive due to a low P/E but is less persuasive given earnings quality and cash-burn concerns.
Positive Factors
Conservative Balance Sheet
Zero reported debt materially reduces financial risk and interest burden, giving the company time and optionality to address operational issues. A debt-free capital structure supports resilience during cash burn periods and preserves capacity to raise capital or pursue projects without immediate servicing constraints.
Negative Factors
Ongoing Cash Burn
Consistent negative operating and free cash flows represent a core funding vulnerability: persistent cash burn forces ongoing reliance on financing or equity raises. Over several months this can dilute existing holders, constrain capital allocation, and limit the firm's ability to execute strategic investments or scale operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Zero reported debt materially reduces financial risk and interest burden, giving the company time and optionality to address operational issues. A debt-free capital structure supports resilience during cash burn periods and preserves capacity to raise capital or pursue projects without immediate servicing constraints.
Read all positive factors
MetalQuest Mining (MQM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$10.98M
Dividend YieldN/A
Average Volume (3M)33.25K
Price to Earnings (P/E)8.4
Beta (1Y)0.65
Revenue GrowthN/A
EPS Growth-421.05%
CountryCA
Employees27
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)<0.01
Shares Outstanding34,304,726
10 Day Avg. Volume13,289
30 Day Avg. Volume33,254
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)2.55
Price to Sales (P/S)0.00
P/FCF Ratio-8.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.98Price Target Upside206.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MetalQuest Mining Business Overview & Revenue Model
Company Description
MetalQuest Mining Inc., an exploration stage company, acquires, explores, and develops mineral properties in Canada. The company explores for iron, zinc, lead, copper, silver, and gold deposits. It holds a 100% interest in the Lac Otelnuk Iron Ore...
How the Company Makes Money
El Nino Ventures generates revenue through its mineral exploration activities. The company primarily earns money by acquiring exploration rights to mineral-rich properties and then conducting exploration activities to identify viable mineral depos...
MetalQuest Mining Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
64
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Apr 2024 | Apr 2023 | Apr 2022 | Apr 2021 | Apr 2020 |
|---|---|---|---|---|---|---|
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 | -4.76K | -5.95K |
| EBITDA | 102.41K | -168.00K | -721.00K | -299.00K | -299.87K | -445.33K |
| Net Income | 100.28K | -168.00K | -64.60K | -479.00K | -122.17K | -412.01K |
Balance Sheet | ||||||
| Total Assets | 1.52M | 898.66K | 843.94K | 594.56K | 1.02M | 841.60K |
| Cash, Cash Equivalents and Short-Term Investments | 1.01M | 702.18K | 724.21K | 510.96K | 1.02M | 819.54K |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 358.31K | 265.89K | 98.43K | 67.57K | 23.00K | 37.98K |
| Stockholders Equity | 1.16M | 632.77K | 745.51K | 526.99K | 997.22K | 803.63K |
Cash Flow | ||||||
| Free Cash Flow | -400.67K | -181.06K | -434.24K | -358.58K | -306.87K | -373.04K |
| Operating Cash Flow | -370.85K | -181.06K | -434.24K | -292.46K | -303.83K | -373.04K |
| Investing Cash Flow | -18.68K | -21.13K | 283.54K | -66.11K | 164.06K | 82.85K |
| Financing Cash Flow | 444.30K | 0.00 | 0.00 | 0.00 | 283.75K | 0.00 |
MetalQuest Mining Technical Analysis
Positive
0.32
Price Trends
0.32
Positive
0.29
Positive
0.20
Positive
Market Momentum
>-0.01
Negative
55.78
Neutral
77.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MQM, the sentiment is Positive. The current price of 0.32 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.32, and above the 200-day MA of 0.20, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.78 is Neutral, neither overbought nor oversold. The STOCH value of 77.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MQM.
MetalQuest Mining Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | C$10.98M | 8.38 | 12.20% | ― | ― | -421.05% | |
44 Neutral | C$7.61M | -12.78 | -5.85% | ― | ― | -16.67% | |
44 Neutral | C$6.23M | -3.77 | -121.94% | ― | ― | 55.15% | |
42 Neutral | C$9.78M | -2.79 | -133.71% | ― | ― | -42.55% | |
41 Neutral | C$6.30M | -3.66 | -28.23% | ― | ― | -84.65% |
* General Sector Average
TSE:MQM
MetalQuest Mining
0.32
0.26
433.33%
TSE:BTT
Bitterroot Resources
0.06
0.03
100.00%
TSE:MUR
Murchison Minerals
0.30
<0.01
0.33%
TSE:BAD
York Harbour Metals Inc
0.17
0.12
230.00%
TSE:REX
Orex Minerals
0.27
0.15
125.00%
TSE:LMR
Lomiko Metals
0.09
-0.06
-39.29%
MetalQuest Mining Corporate Events
Business Operations and Strategy
MetalQuest Clears Key Technical Hurdle at Lac Otelnuk Iron Project
Positive
Feb 18, 2026
MetalQuest Mining has completed a technical gap analysis for its 100%-owned Lac Otelnuk Iron Project, conducted by engineering firm AtkinsRéalis, which previously led the 2015 feasibility study. The review found no issues that would block fur...
Business Operations and StrategyM&A Transactions
MetalQuest Enters Due Diligence on First Gold Project in Ontario’s Emerging Kenora Hub
Positive
Feb 3, 2026
MetalQuest Mining Inc. has entered into an option agreement granting a 40-day due diligence period on the potential 100% acquisition of the West Cameron Gold Project in the Kenora Mining District of northwestern Ontario, marking the company’...
Business Operations and StrategyRegulatory Filings and Compliance
MetalQuest Mining Releases Third ESG Report Focused on Lac Otelnuk Iron Project
Positive
Feb 2, 2026
MetalQuest Mining has released its third annual ESG/Sustainability Report covering 2025, centered on the Lac Otelnuk Iron Ore Project in Quebec, where activity remains limited to desktop studies and technical analyses, resulting in minimal and non...
Business Operations and StrategyM&A Transactions
MetalQuest Expands Ring of Fire Footprint With 22,000-Hectare Fishhook Polymetallic Acquisition
Positive
Jan 23, 2026
MetalQuest Mining has acquired the Fishhook Polymetallic Project in Northern Ontario’s Ring of Fire through staking approximately 1,094 contiguous mining claim cells covering about 22,000 hectares, expanding its exploration portfolio with di...
Business Operations and Strategy
MetalQuest Restructures Royalty to Boost Economics of Lac Otelnuk Iron Project
Positive
Jan 20, 2026
MetalQuest Mining has amended the royalty structure on its Lac Otelnuk Iron Project in Quebec, replacing the existing royalty with a 2.5% gross overriding royalty on iron product sales with no deductions, and securing a one-time right to reduce th...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
MetalQuest Mining Completes $1.97 Million Private Placement, Increases CEO’s Stake
Positive
Jan 9, 2026
MetalQuest Mining Inc. has closed the second and final tranche of its non-brokered private placement, issuing 1,963,760 non-flow-through units at $0.17 each for additional proceeds of $333,839.20, bringing total funds raised across all tranches to...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
MetalQuest Maps 2026 Strategy After Growth-Focused 2025
Positive
Dec 30, 2025
MetalQuest Mining’s year-end message highlights 2025 as a year of groundwork in which it sharpened the technical roadmap for its flagship Lac Otelnuk Iron Project, expanded its land position in the Labrador Trough with the Superior Iron Proj...
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.