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NextSource Materials Inc
(TSX:NEXT)
NextSource Materials Inc (NEXT) vs. iShares MSCI Canada ETF (EWC)
NextSource Materials Inc Business Overview & Revenue Model
NextSource Materials Inc Earnings Call Summary
NextSource Materials Inc Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Sep 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.22M | 714.84K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -8.67M | -4.28M | -239.00 | 0.00 | -100.00K | -6.59K |
| EBITDA | -32.70M | -27.15M | -7.37M | -4.58M | -2.56M | -5.52M |
| Net Income | -28.64M | -32.44M | -9.00M | -11.68M | 16.12M | -41.96M |
Balance Sheet | ||||||
| Total Assets | 81.07M | 84.20M | 92.85M | 52.98M | 29.30M | 26.92M |
| Cash, Cash Equivalents and Short-Term Investments | 2.98M | 4.48M | 10.77M | 6.89M | 9.79M | 22.44M |
| Total Debt | 56.65M | 24.27M | 21.20M | 11.50M | 349.82K | 11.10K |
| Total Liabilities | 58.04M | 43.21M | 40.55M | 27.77M | 32.36M | 53.07M |
| Stockholders Equity | 23.03M | 55.93M | 52.30M | 25.20M | -3.06M | -26.15M |
Cash Flow | ||||||
| Free Cash Flow | -26.63M | -30.90M | -21.05M | -20.56M | -14.60M | -5.75M |
| Operating Cash Flow | -24.06M | -29.64M | -8.89M | -7.05M | -1.63M | -1.43M |
| Investing Cash Flow | -2.72M | -13.46M | -20.93M | -14.05M | -13.14M | -4.33M |
| Financing Cash Flow | 27.78M | 32.56M | 33.70M | 18.61M | 2.05M | 27.83M |
NextSource Materials Inc Technical Analysis
NextSource Materials Inc Peers Comparison
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% | |
50 Neutral | C$13.54M | 1.47 | 45.75% | ― | ― | 158.45% | |
48 Neutral | C$108.04M | -16.28 | -450.88% | ― | ― | -38.68% | |
45 Neutral | C$60.30M | -0.98 | ― | ― | 2.76% | -1.06% | |
44 Neutral | C$15.18M | -0.95 | ― | ― | ― | ― | |
43 Neutral | C$55.67M | -1.21 | -67.77% | ― | ― | -156.65% | |
42 Neutral | C$45.47M | -14.24 | -16.33% | ― | ― | -64.76% |
NextSource Materials Inc Corporate Events
NextSource Materials has extended the timetable of its binding multi-year offtake agreement with Mitsubishi Chemical Corporation for 9,000 tonnes per year of anode active material, while keeping all core commercial terms, volumes and pricing frameworks unchanged. The revised schedule gives the company until July 31, 2027 to meet financing, construction, commissioning and first production milestones for its planned Battery Anode Facility in the United Arab Emirates, supported by a recently completed C$25 million public offering.
Under the agreement, NextSource will supply intermediate anode active material from its UAE facility to Mitsubishi’s plant in Japan, which will produce final material for a major automotive OEM’s North American EV battery cell operations. The extended timeline reinforces NextSource’s bid to become one of the few vertically integrated graphite producers outside Asia and strengthens its positioning within North American EV supply chains as it targets a final investment decision on the UAE facility by the end of the month.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.29 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has signed a binding agreement with Syrah Resources to secure between about 34,000 and 68,000 tonnes of natural graphite fines over seven years for its planned battery anode facility in Abu Dhabi, subject to conditions including commercial start-up and product qualification. Pricing will be set quarterly by reference to an independent graphite fines index, and both parties retain the right to terminate without liability if the conditions are not met by specified deadlines in 2026 and 2027.
The deal is a cornerstone of NextSource’s strategy to diversify feedstock for its Abu Dhabi anode plant beyond its Molo mine in Madagascar, which remains the primary source and already supplies sufficient SuperFlake® concentrate to cover its Mitsubishi Chemical offtake through at least 2028. By adding Syrah and evaluating further third-party sources, NextSource aims to de-risk ramp-up, support potential expansion and meet rising demand, including from a prospective second major Japanese anode materials customer that, alongside Mitsubishi, could fully utilize or exceed planned Phase 1 capacity at the UAE facility.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials announced the resignation of Chief Financial Officer Jaco Crouse, who will stay on for up to four months to ensure an orderly transition after accepting a senior role elsewhere. The board, supported by external advisors, has begun a structured search process for a new CFO and will announce interim arrangements in due course.
The company emphasized that its strategic priorities remain unchanged, including advancing its Battery Anode Facility development, moving toward a final investment decision, and building out its integrated battery materials strategy. Management highlighted Crouse’s role in strengthening financial discipline during a key growth phase, signaling a leadership change but continuity in the company’s long-term operational and growth plans.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has closed an oversubscribed C$24.999 million brokered private placement under the listed issuer financing exemption, issuing 58,823,500 units at C$0.425 each, with no statutory hold period and subject to final TSX approval. Vision Blue Resources participated heavily to maintain its pro rata stake, while warrants attached to the units allow additional capital to be raised if exercised over the next three years.
The company plans to use the net proceeds primarily to advance its UAE Battery Anode Facility, update the technical report for its Molo graphite project and fund general corporate purposes. By securing this financing and confirming strong investor support, NextSource is reinforcing its strategy to expand downstream graphite processing capacity and strengthen its position in the global battery materials supply chain.
Vision Blue’s participation in the placement qualified as a related-party transaction but was exempt from formal valuation and minority approval requirements, as the deal size was below 25 percent of NextSource’s market capitalization. The offering was led on a best-efforts basis by Stifel Canada with Maxim Group as co-agent, underscoring continued institutional interest in the company’s battery materials growth plans.
The most recent analyst rating on (TSE:NEXT) stock is a Sell with a C$0.35 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has signed a non-binding letter of intent with a major Japanese anode material producer to potentially supply multiple grades of anode active materials for electric vehicle batteries from its planned Battery Anode Facility in Abu Dhabi starting in 2027. Following a lengthy qualification process and alongside its existing multi-year offtake agreement with Mitsubishi Chemical Corp., the prospective supply deals would fully utilize and surpass the initial 14,000 tpa capacity of the UAE facility’s Phase 1, underscoring strong demand from the Japanese battery supply chain and further de-risking NextSource’s vertically integrated graphite strategy for EV and battery customers.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.52 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has signed a non-binding letter of intent with Japanese trading house Hanwa Co. and government agency JOGMEC for a potential project-level equity investment of up to US$30 million in Phase 1 of its planned Battery Anode Facility in Abu Dhabi, representing up to a 15% stake. The proposed investment, to be made via a jointly owned special purpose vehicle and accompanied by an exclusivity period through March 2026, would support an initial 14,000 tonnes per year of natural graphite anode capacity and underpin a broader strategic framework that may include preferential Japanese offtake, logistics support, and long-term graphite feedstock supply from the Molo mine, reinforcing NextSource’s progress toward a final investment decision and strengthening its positioning in diversified, Japan-linked battery supply chains.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.52 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has signed multiple non-binding term sheets with strategic investors, including UAE sovereign-linked entities and a Japanese consortium, to fund Phase 1 of its proposed Battery Anode Facility in Abu Dhabi, under a structure that could see new partners acquire up to 50% of the project and contribute their pro rata share of capital costs. The contemplated equity partnerships, which follow completion of initial due diligence and a site visit, are designed to limit corporate dilution while bringing regional and supply-chain expertise, and support NextSource’s target of reaching a final investment decision on the UAE plant by the end of the first quarter of 2026, after which the company plans to move into full equipment procurement, installation, commissioning and phased ramp-up, potentially strengthening its role in diversifying anode supply away from China.
The most recent analyst rating on (TSE:NEXT) stock is a Sell with a C$0.42 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials has achieved a key development milestone with the arrival of the first shipment of long-lead anode processing equipment in Abu Dhabi for its inaugural Battery Anode Facility, underscoring its downstream expansion strategy in the United Arab Emirates. The equipment will be installed in a pre-existing industrial building in the Industrial City of Abu Dhabi, which reduces construction time and capital needs and allows the company to focus on process installation and operational readiness, while progress in front-end engineering and design to the schematic stage is sharpening cost and plant design estimates that will underpin a final investment decision and subsequent full-scale procurement, installation, commissioning and phased ramp-up.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.35 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.
NextSource Materials reported that shareholders strongly endorsed the company’s leadership and governance at its 2025 annual meeting, re-electing all director nominees with support levels near 99.5% or higher and backing the appointment of PricewaterhouseCoopers LLP as auditor for the fiscal year ending June 30, 2026, with 99.9% of votes cast in favour. With 54.7% of eligible shares represented at the virtual meeting, the results signal robust shareholder support as NextSource advances production at its Molo graphite mine in Madagascar and invests in downstream Battery Anode Facilities, reinforcing its strategic push to position itself as a key vertically integrated supplier to the global battery and electric-vehicle supply chain.
The most recent analyst rating on (TSE:NEXT) stock is a Hold with a C$0.35 price target. To see the full list of analyst forecasts on NextSource Materials Inc stock, see the TSE:NEXT Stock Forecast page.