Northcliff Resources (NCF) AI Stock Analysis

• Market Cap: C$260.52M
• Dividend Yield: N/A
• Average Volume (3M): 754.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.62
• Revenue Growth: N/A
• EPS Growth: 34.09%
• Country: CA
• Employees: 3
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 627,758,670
• 10 Day Avg. Volume: 330,970
• 30 Day Avg. Volume: 754,264
• PEG Ratio: 2.24
• Price to Book (P/B): 4.62
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -22.38
• 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: 52 Neutral
• Price Target: C$0.45 ▲(32.06% Upside)
• Action: Reiterated Date: 03/01/26
• Date: Action: Reiterated 03/01/26

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn), partially offset by a relatively strong balance sheet with low leverage. Technicals are a clear positive with strong uptrend/momentum, but valuation support is limited due to negative earnings and no dividend yield data.

Positive Factors

Low leverage / solid balance sheet

A low debt-to-equity ratio (~0.14) and a tangible equity base provide durable financial flexibility for a development-stage miner. This reduces near-term refinancing risk, supports permitting and staged project spending, and improves ability to secure project financing or JV partners over 2–6 months.

Strategic critical-minerals asset

Ownership of the Sisson tungsten-molybdenum project aligns with long-term demand for critical minerals. Structural industry tailwinds and policy focus on supply security can improve access to offtake, financing, and partner interest, supporting long-term project value if development advances.

Trend of reduced losses

A demonstrable decline in net loss year-over-year shows progress on cost control or milestone-driven expense management. Sustained reduction in losses extends runway and lowers near-term funding needs, improving chances to reach financing or construction milestones within months.

Negative Factors

No revenue / pre-revenue status

The company remains pre-revenue across multiple years, meaning the business has no operating cash inflows and remains dependent on external capital. This structural status raises execution risk: until production or a sale occurs, economic value depends on successful project development or financing.

Persistent negative operating and free cash flow

Consistent operating and free cash flow deficits indicate ongoing cash burn that will require further financing or dilution if unresolved. For a development company, sustained negative cash flow constrains the ability to fund permitting or construction without new equity, debt, or partner arrangements.

Negative returns / weak asset productivity

Negative ROE and persistently unproductive assets show the company has not yet converted its capital into positive returns. This structural weakness reduces investor appetite and increases reliance on external capital or strategic partnerships to realize value from the Sisson asset.

Northcliff Resources Business Overview & Revenue Model

Company Description

Northcliff Resources Ltd., together with its subsidiaries, engages in the acquisition, exploration, and development of mineral projects in Canada. Its primary mineral project is the Sisson Tungsten-Molybdenum project covering an area of 18,880 hectares located in New Brunswick, Canada. The company was formerly known as Cabre Capital Corp. and changed its name to Northcliff Resources Ltd. in June 2011. Northcliff Resources Ltd. was incorporated in 2010 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Northcliff Resources primarily makes money through the development and potential sale of mineral resources from its flagship Sisson Project. The company's revenue model is based on the exploration and development of tungsten and molybdenum deposits, which, upon successful extraction, can be sold to industrial consumers and manufacturers. Key revenue streams include the sale of these extracted metals, partnerships with other mining companies, and potential joint ventures or licensing agreements to share the operational and financial burden of large-scale mining operations. The company's ability to generate earnings is closely tied to the global demand for tungsten and molybdenum, commodity prices, and successful project development milestones.

Northcliff Resources Financial Statement Overview

Summary

Overall financial quality is weak: the company reports no revenue (2020–2025), persistent operating/net losses, and consistently negative operating and free cash flow (2025 OCF: -3.0M; FCF: -5.2M). The main offset is a comparatively solid balance sheet with low leverage (debt-to-equity ~0.14) and meaningful equity, but returns remain negative (ROE ~-5.3%).

Income Statement

The company has reported no revenue across the annual periods provided (2020–2025), while continuing to post operating losses and net losses each year. Losses improved in the most recent year (Net Income of -1.34M in 2025 vs. -2.10M in 2024), but profitability remains structurally weak given the absence of revenue and consistently negative EBIT/EBITDA.

Balance Sheet

The balance sheet is a relative strength: leverage is low with debt-to-equity at ~0.14 in 2025 and equity of ~25.2M against ~34.2M in assets. However, returns remain negative (ROE ~-5.3% in 2025), reflecting ongoing losses and limited evidence of asset productivity.

Cash Flow

Cash generation is weak with negative operating cash flow in every year shown, including -3.0M in 2025 (worse than -1.1M in 2024), and negative free cash flow throughout (2025: -5.2M). While free cash flow has at times compared favorably to net loss (e.g., 2025 free cash flow to net income > 1), the business is still consuming cash and may require additional funding if this persists.

Breakdown	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-974.05K	-437.73K	-214.00	-658.00
EBITDA	-1.33M	-2.21M	-2.27M	-1.68M	-1.19M
Net Income	-1.34M	-2.10M	-2.65M	-1.88M	-1.27M
Balance Sheet
Total Assets	34.21M	30.53M	31.03M	32.43M	28.34M
Cash, Cash Equivalents and Short-Term Investments	1.62M	1.34M	2.13M	4.93M	1.44M
Total Debt	3.55M	0.00	1.32M	4.45M	1.34M
Total Liabilities	5.23M	1.64M	2.40M	6.57M	2.54M
Stockholders Equity	25.23M	25.06M	24.66M	22.32M	22.65M
Cash Flow
Free Cash Flow	-5.21M	-1.11M	-4.65M	-1.28M	-994.10K
Operating Cash Flow	-2.99M	-1.11M	-3.78M	-727.53K	-676.45K
Investing Cash Flow	-1.38M	-698.92K	-686.49K	-528.37K	-306.90K
Financing Cash Flow	4.66M	1.02M	1.67M	4.75M	831.97K

Northcliff Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NCF, the sentiment is Positive. The current price of 0.34 is below the 20-day moving average (MA) of 0.37, above the 50-day MA of 0.33, and above the 200-day MA of 0.20, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 63.22 is Neutral, neither overbought nor oversold. The STOCH value of 84.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NCF.

Northcliff Resources 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%
NCF	52 Neutral	C$260.52M	-188.64	-6.95%	―	―	34.09%
CCCM	51 Neutral	C$118.86M	-34.90	-4.33%	―	―	10.13%
BCM	49 Neutral	C$423.72M	-2.58	-525.71%	―	-4.16%	-66.82%
PWM	47 Neutral	C$112.33M	-71.67	-7.68%	―	―	―
FL	47 Neutral	C$221.34M	-16.22	-144.30%	―	―	34.36%
FPC	44 Neutral	C$156.32M	-41.67	-4.06%	―	―	54.00%

Northcliff Resources Corporate Events

Northcliff Advances Pre-Construction Work and Financing Talks for Sisson Critical Minerals Project

Northcliff Resources is moving its Sisson tungsten-molybdenum project through the pre-construction phase, leveraging more than US$15 million in U.S. Defense Production Act funding and C$8.2 million in Canadian critical minerals support to update its 2013 feasibility study, complete front-end engineering, and meet technical conditions tied to existing environmental approvals. Current work includes geotechnical and geophysical site investigations for tailings and pit design, planning a second phase of fieldwork, developing an archaeological and heritage protection protocol with provincial authorities and the Wolastoqey Nation, and intensifying discussions with Western offtakers, potential project financiers, and export credit agencies, positioning Sisson as a strategically important source of critical minerals within Canada’s and its allies’ supply chains.

The most recent analyst rating on (TSE:NCF) stock is a Hold with a C$0.38 price target. To see the full list of analyst forecasts on Northcliff Resources stock, see the TSE:NCF Stock Forecast page.