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Northern Graphite
(OTC:NGC)
Northern Graphite (NGC) vs. iShares MSCI Canada ETF (EWC)
Northern Graphite Business Overview & Revenue Model
Northern Graphite Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.52M | 22.73M | 17.10M | 11.99M | 0.00 | 0.00 |
| Gross Profit | -2.76M | -310.00K | 1.93M | 2.65M | -31.50K | -34.18K |
| EBITDA | -10.71M | -20.96M | -14.55M | -7.79M | -3.19M | -833.95K |
| Net Income | -31.60M | -38.80M | -23.64M | -14.55M | -3.23M | -943.96K |
Balance Sheet | ||||||
| Total Assets | 70.23M | 77.24M | 91.23M | 102.06M | 19.66M | 15.22M |
| Cash, Cash Equivalents and Short-Term Investments | 585.00K | 373.00K | 3.60M | 5.64M | 4.33M | 1.39M |
| Total Debt | 45.91M | 41.10M | 27.55M | 21.90M | 0.00 | 0.00 |
| Total Liabilities | 105.66M | 98.64M | 75.44M | 65.88M | 1.92M | 553.66K |
| Stockholders Equity | -35.43M | -21.40M | 15.79M | 36.18M | 17.73M | 14.67M |
Cash Flow | ||||||
| Free Cash Flow | 557.00K | -1.70M | -9.65M | -16.96M | -2.08M | -700.36K |
| Operating Cash Flow | 1.88M | -1.18M | -4.73M | -10.51M | -1.40M | -525.45K |
| Investing Cash Flow | -2.38M | -563.00K | -4.48M | -51.57M | -1.30M | 352.22K |
| Financing Cash Flow | 753.00K | -1.01M | 7.34M | 63.38M | 5.06M | 0.00 |
Northern Graphite Technical Analysis
Northern Graphite 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$16.93M | 0.84 | 45.75% | ― | ― | 158.45% | |
48 Neutral | C$10.52M | -2.16 | -11.09% | ― | ― | -84.65% | |
45 Neutral | C$52.32M | -1.36 | ― | ― | 2.76% | -1.06% | |
45 Neutral | C$36.26M | -40.91 | -2.06% | ― | ― | 93.75% | |
36 Underperform | C$46.55M | -12.28 | -16.33% | ― | ― | -64.76% |
Northern Graphite Corporate Events
Northern Graphite Corporation and Saudi Arabia’s Al Obeikan Group have signed a term sheet to create a joint venture to build a US$200 million battery anode material plant in Yanbu Industrial City, with Obeikan owning 51% and Northern 49%. The facility, slated to begin construction in 2026 and targeted to start first-phase production of 25,000 tonnes per year in 2028, is designed to be scalable and will be funded primarily through Saudi government agencies and local and global commercial banks, with equity contributions from the partners. The joint venture is in advanced talks with global battery manufacturers over long-term offtake agreements for its initial output and will also secure up to 50,000 tonnes per year of graphite concentrate from Northern’s Okanjande mine under a long-term supply deal that includes a royalty on BAM sales to Northern. By anchoring production in Saudi Arabia’s strategically located Yanbu hub and integrating supply from Namibia, the project supports the Kingdom’s Vision 2030 objectives and positions Northern as a fully integrated, geopolitically diversified BAM producer offering non-Chinese, secure and traceable graphite anode supply to global OEMs, while making Okanjande its primary growth engine.
The most recent analyst rating on (TSE:NGC) stock is a Sell with a C$0.21 price target. To see the full list of analyst forecasts on Northern Graphite stock, see the TSE:NGC Stock Forecast page.
Northern Graphite has raised C$1.35 million through a non-brokered private placement of 10.8 million common shares at C$0.125 each, completing a previously disclosed C$2.2 million financing package. Led by follow-on investment from The BMI Group, the proceeds will fund a feasibility study for Northern’s planned battery anode material facility at Baie-Comeau, Québec, and provide working capital, bolstering the company’s mine-to-market strategy and its role in building North American capacity for processing graphite into battery-grade anode material. The Baie-Comeau project, located at a redeveloped former paper mill site within BMI’s Norderra industrial hub, is positioned to offer a faster route to market than a greenfield build, support Québec and Canada’s critical minerals strategy, and create regional jobs, further cementing Northern’s strategic importance in the EV and energy transition supply chain.
The most recent analyst rating on (TSE:NGC) stock is a Hold with a C$0.15 price target. To see the full list of analyst forecasts on Northern Graphite stock, see the TSE:NGC Stock Forecast page.
Northern Graphite has raised C$1.35 million through a non-brokered private placement of 10.8 million common shares at C$0.125 each, completing a previously announced C$2.2 million financing package, with The BMI Group acting as lead investor. The funds will support a feasibility study for Northern’s planned battery anode material facility at Baie-Comeau, Québec, as well as general working capital, advancing the company’s mine-to-market strategy and its partnership with BMI to repurpose a former paper mill site into a key node in North America’s battery supply chain, potentially accelerating time to market and reinforcing Canada’s critical minerals strategy.
The most recent analyst rating on (TSE:NGC) stock is a Hold with a C$0.15 price target. To see the full list of analyst forecasts on Northern Graphite stock, see the TSE:NGC Stock Forecast page.
Northern Graphite has granted 2,860,000 stock options to its Non-Executive Directors as part of their compensation package, with options exercisable at $0.20 per share and expiring in December 2030. This move underscores the company’s commitment to growth and its integrated mine-to-battery strategy, aiming to enhance its position in the graphite market and support the green economy, which could have significant implications for its operations and stakeholders.
The most recent analyst rating on (TSE:NGC) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on Northern Graphite stock, see the TSE:NGC Stock Forecast page.
Northern Graphite announced its third-quarter 2025 results, highlighting operational challenges due to maintenance and technical issues at the Lac des Îles mine, which affected production and financial performance. However, the company is optimistic about future performance improvements with planned plant upgrades and pit extensions. Despite a decrease in revenue due to lower production, Northern Graphite has secured significant financial support and continues to experience strong demand for its graphite products, particularly amid geopolitical uncertainties and the growing need for non-China graphite supply.
Northern Graphite has temporarily placed its Lac des Iles mine and mill on care and maintenance to address an unexpected equipment issue and accelerate maintenance ahead of its 2026 pit expansion. This strategic decision, prompted by a bearing failure at the mill, allows the company to consolidate maintenance efforts and avoid multiple shutdowns. The expansion program, supported by a $6.2 million interest-free contribution from Canada’s Regional Economic Growth Through Innovation Program, aims to extend the mine’s life by eight years. The company is working closely with regulatory authorities to ensure compliance and secure a sustainable North American supply chain for graphite, critical for the growing battery market.
Northern Graphite Corporation and Rain Carbon Canada Inc. have announced a collaborative project, supported by a grant of up to C$860,000, aimed at transforming natural graphite processing by-products into high-performance battery anode materials. This 24-month initiative seeks to enhance the yield from graphite mine concentrates while minimizing waste and carbon footprint, positioning both companies to offer a competitive Western supply chain alternative in the energy storage market. By integrating their expertise, the partners aim to advance sustainable battery materials innovation, reduce industrial waste, and meet the stringent quality standards of the energy storage industry.
Northern Graphite has signed a Letter of Intent with Italy’s Alkeemia to secure access to a new graphite purification technology that is cleaner and more efficient than existing methods in China. This partnership aims to strengthen Northern’s position in the energy transition market by establishing a European-led purification process, potentially expanding to full industrial scale and integrating Northern’s upstream and downstream operations.