North Arrow Minerals (NAR) AI Stock Analysis

• Market Cap: C$9.15M
• Dividend Yield: N/A
• Average Volume (3M): 49.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: N/A
• EPS Growth: -284.96%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): >-0.01
• Shares Outstanding: 28,580,223
• 10 Day Avg. Volume: 52,284
• 30 Day Avg. Volume: 49,795
• PEG Ratio: 0.06
• Price to Book (P/B): 0.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.90
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: C$0.33 ▲(8.67% Upside)

The score is primarily constrained by weak financial performance (no revenue, widening TTM losses, and ongoing cash burn), partially offset by a debt-free balance sheet with a meaningful equity cushion. Technicals are supportive with price above key moving averages and positive MACD, while valuation is limited by negative earnings and no indicated dividend yield.

Positive Factors

Debt-free balance sheet with equity cushion

A zero-debt capital structure and roughly $18.2M equity cushion materially reduce near-term solvency risk for an exploration company. This durable financial flexibility supports continued exploration spending, reduces immediate refinancing pressure and preserves optionality for strategic opportunities.

Focus on high-quality Canada diamond jurisdictions

Concentrating exploration in the Northwest Territories and Nunavut ties the company to established, mining-focused jurisdictions with known regulatory frameworks. Over months, this reduces permitting uncertainty versus frontier jurisdictions and can improve access to financing or joint ventures for advanced projects.

Losses improved versus 2023 trough

Reported TTM losses remain negative but are lower than 2023's large trough, indicating the company has moderated spending or improved cost control. Sustained restraint in exploration spend can extend runway, lower future capital needs, and improve prospects for funding without excessive dilution.

Negative Factors

Pre-revenue operating profile

The company generates no operating revenue and remains exploration-stage, meaning it cannot self-fund growth from operations. Over a multi-month horizon this structural absence of revenue forces reliance on capital markets or partners to advance projects, raising execution and financing risk.

Persistent negative operating and free cash flow

Consistent OCF and FCF deficits reflect ongoing cash burn that cannot be covered internally. This structural cash outflow pattern increases dependence on external financing, may force asset sales or dilutive equity raises, and limits the firm's ability to scale or respond to opportunities without raising capital.

Negative return on equity indicating value erosion

A sustained negative ROE near -10% signals shareholder capital is being eroded rather than compounded. Over several months this undermines investor confidence, raises the cost of new capital, and can constrain the company's ability to secure favorable joint ventures or funding terms for exploration programs.

North Arrow Minerals Business Overview & Revenue Model

Company Description

North Arrow Minerals Inc. engages in the acquisition and exploration of diamond properties in Canada. The company's principal properties include Naujaat and Mel projects located in Nunavut; the Pikoo project comprises 39,752 hectares of mineral claims located in Saskatchewan; and the Loki Diamond property, including 23 mineral claims that covers approximately 12,898 hectares located in Northwest Territories. It also owns a 100% interest in ORO gold property located in the Hope Bay Volcanic Belt in Nunavut; the Luxx property located in Nunavut; and the CSI property, which comprises 4,540 hectares located in the Nunavut. North Arrow Minerals Inc. is based in Vancouver, Canada.

How the Company Makes Money

North Arrow Minerals makes money primarily through the exploration and potential development of diamond properties. As an exploration company, its revenue model includes generating value through the discovery and delineation of diamond resources, which can be sold or partnered with larger mining companies for development. The company may also enter into joint ventures or partnerships with other mining entities to share exploration costs and risks, potentially receiving milestone payments, royalties, or equity stakes in projects that advance to production. Additionally, North Arrow Minerals might raise funds through equity financing to support its exploration activities, with the long-term goal of benefiting from the appreciation in value of its mineral assets as they move closer to production stages.

North Arrow Minerals Financial Statement Overview

Summary

Exploration-stage profile with $0 revenue and ongoing losses. TTM net loss widened (-$1.82M vs -$0.63M prior year) and cash burn persists (TTM OCF -$0.86M; TTM FCF -$0.62M), increasing reliance on external funding. Balance sheet is a key offset with $0 debt and a meaningful equity base (~$18.2M), supporting near-term solvency despite negative ROE.

Income Statement

The company remains in a pre-revenue profile with $0 revenue across the historical periods provided (including TTM (Trailing-Twelve-Months)), and it continues to generate operating losses. Net loss widened meaningfully in TTM (Trailing-Twelve-Months) (-$1.82M) versus the latest annual period (-$0.63M), signaling a weaker near-term earnings trajectory. A modest positive is that losses have been smaller than the 2023 trough (-$4.24M), but profitability is still structurally negative and highly dependent on future funding and project progress.

Balance Sheet

The balance sheet is relatively conservative from a leverage standpoint: total debt is currently reported at $0 in TTM (Trailing-Twelve-Months) and remained low in prior years (roughly $0.4M–$0.6M). Equity is sizable (~$18.2M in TTM (Trailing-Twelve-Months)), which provides a cushion for an exploration-stage business. The key weakness is persistent negative returns on equity (TTM (Trailing-Twelve-Months) roughly -9.9%), reflecting ongoing value erosion from recurring losses even with low financial leverage.

Cash Flow

Cash generation is weak with consistently negative operating cash flow (TTM (Trailing-Twelve-Months) -$0.86M) and negative free cash flow (TTM (Trailing-Twelve-Months) -$0.62M), indicating continued cash burn. Free cash flow declined sharply versus the prior period (TTM free cash flow growth about -37%), increasing dependence on external capital. A relative positive is that free cash flow burn was smaller than net loss in TTM (Trailing-Twelve-Months), but overall cash flows still do not support self-funding operations.

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	0.00
Gross Profit	-17.83K	-34.08K	-42.03K	-43.74K	-50.52K	-77.40K
EBITDA	-354.81K	-592.70K	-866.00K	-4.18M	-1.58M	-534.00K
Net Income	-1.82M	-626.77K	-908.00K	-4.24M	-1.70M	-628.00K
Balance Sheet
Total Assets	18.43M	18.60M	17.90M	16.18M	20.14M	20.60M
Cash, Cash Equivalents and Short-Term Investments	635.74K	2.03M	429.81K	274.43K	1.04M	1.12M
Total Debt	0.00	0.00	571.99K	593.53K	565.28K	411.73K
Total Liabilities	268.97K	289.70K	1.21M	1.14M	1.80M	1.61M
Stockholders Equity	18.17M	18.31M	16.69M	15.04M	18.33M	18.99M
Cash Flow
Free Cash Flow	-624.50K	-983.93K	-888.47K	-552.64K	-966.25K	-505.88K
Operating Cash Flow	-862.21K	-966.17K	-883.31K	-548.45K	-655.67K	-503.79K
Investing Cash Flow	-1.41M	575.70K	-1.21M	-1.07M	-341.03K	680.96K
Financing Cash Flow	-16.55K	1.51M	2.25M	859.34K	937.18K	335.20K

North Arrow Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NAR, the sentiment is Positive. The current price of 0.3 is above the 20-day moving average (MA) of 0.29, above the 50-day MA of 0.25, and above the 200-day MA of 0.20, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 58.75 is Neutral, neither overbought nor oversold. The STOCH value of 47.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NAR.

North Arrow Minerals 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%
NAR	54 Neutral	C$9.15M	-5.02	-9.59%	―	―	-284.96%
GLD	52 Neutral	C$5.98M	-17.59	-40.98%	―	―	79.47%
COCO	52 Neutral	C$11.97M	17.02	23.04%	―	―	―
MEX	50 Neutral	C$5.95M	-10.34	―	―	―	18.99%
PERU	42 Neutral	C$5.89M	-1.03	-187.84%	―	―	54.89%

North Arrow Minerals Corporate Events

North Arrow Boosts Private Placement to $4 Million on Investor Demand

North Arrow Mineral’s enlarged non-brokered private placement now targets up to 16.7 million units at $0.24 for gross proceeds of $4 million, with each unit carrying a share and half-warrant exercisable at $0.36 over two years, pending customary regulatory approvals and a February 2026 close. The additional capital is earmarked for advancing exploration programs and general corporate needs, signaling strong investor appetite and providing more runway for the company’s Kraaipan gold work amid a competitive junior mining landscape.

The most recent analyst rating on (TSE:NAR) stock is a Hold with a C$0.28 price target. To see the full list of analyst forecasts on North Arrow Minerals stock, see the TSE:NAR Stock Forecast page.

North Arrow Names John Armstrong President and COO to Drive Kraaipan Push

North Arrow appointed Dr. John P. Armstrong as president and COO, entrusting him with oversight of the Kraaipan Gold Project and regional expansion efforts, while issuing 350,000 incentive stock options to align his tenure with shareholder interests, signaling a push to scale its African gold exploration platform.

The most recent analyst rating on (TSE:NAR) stock is a Hold with a C$0.28 price target. To see the full list of analyst forecasts on North Arrow Minerals stock, see the TSE:NAR Stock Forecast page.

North Arrow Minerals Grants Stock Options to Company Officer

North Arrow Minerals has granted 100,000 incentive stock options to an officer under its shareholder-approved Stock Option Plan, with an exercise price of C$0.215 per share and an expiry date of December 18, 2030. Following this grant, the company now has 2,077,500 stock options outstanding, equivalent to 7.3% of its issued and outstanding common shares, modestly increasing equity-based compensation and potential future dilution for shareholders while aligning management incentives with the company’s long-term performance.

The most recent analyst rating on (TSE:NAR) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on North Arrow Minerals stock, see the TSE:NAR Stock Forecast page.

North Arrow Minerals Announces $3 Million Private Placement to Fund Kraaipan Gold Exploration

North Arrow Minerals has launched a CAD$3 million non-brokered private placement, offering up to 12.5 million units at $0.24 per unit, each comprising one common share and a half warrant exercisable at $0.36 for 24 months. The financing, expected to close in February 2026 pending regulatory approvals, will fund exploration work at the company’s Kraaipan Gold Project and general corporate purposes, potentially strengthening North Arrow’s balance sheet and supporting continued advancement of its flagship gold exploration activities.

The most recent analyst rating on (TSE:NAR) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on North Arrow Minerals stock, see the TSE:NAR Stock Forecast page.

North Arrow Minerals Appoints New VP of Communications

North Arrow Minerals has appointed Kaeli Gattens as Vice President of Communications, effective December 1, 2025. With nearly 15 years of experience in corporate communications and capital markets within the global metals and mining sector, Gattens is expected to enhance North Arrow’s investor engagement and brand visibility as the company advances its Kraaipan Gold Project.

North Arrow Minerals Unveils Promising Gold Discovery in Botswana

North Arrow Minerals has announced a significant gold discovery at its Kraaipan Gold Project in Botswana, with a notable drill intercept of 1.56 g/t gold over 30 meters. This discovery is part of a US$1 million exploration program that identified six priority gold targets across the Kraaipan Greenstone Belt. The program’s success, achieved with innovative technology and strategic execution, highlights the potential for rapid resource definition and positions North Arrow as a competitive player in the gold exploration industry. The identification of multiple gold-anomalous areas validates the company’s exploration approach and offers promising opportunities for further development.