Northern Graphite Corporation (TSE:NGC)
:NGC
Want to see TSE:NGC full AI Analyst Report?
Top Page
Northern Graphite
(NGC)
Select Model
Select Model
Rating:44Neutral
Price Target:
C$0.13
▼(-40.45% Downside)
Action:Reiterated
Date:05/04/26
The score is primarily held down by weak financial performance—persistent losses, negative gross profit, and a stressed balance sheet with negative equity and higher debt—despite some improvement in operating cash flow. Technicals also remain soft with the stock below major moving averages and negative MACD. Valuation is difficult to assess due to negative earnings and no dividend yield support.
Positive Factors
Structural Market Exposure
Northern Graphite's core business targets graphite for industrial and battery applications, aligning the company with a multi-year structural demand trend in energy storage and electrification. This market alignment supports sustained addressable demand for mined graphite over 2–6+ months.
Negative Factors
Weakened Capital Structure
Rising leverage coupled with negative equity materially weakens financial flexibility, increasing refinancing and dilution risk. A stressed capital structure raises long-term funding costs and constrains the company's ability to finance development or absorb revenue volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Structural Market Exposure
Northern Graphite's core business targets graphite for industrial and battery applications, aligning the company with a multi-year structural demand trend in energy storage and electrification. This market alignment supports sustained addressable demand for mined graphite over 2–6+ months.
Read all positive factors
Northern Graphite (NGC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$24.07M
Dividend YieldN/A
Average Volume (3M)232.88K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth-15.39%
EPS Growth46.81%
CountryCA
Employees76
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.16
Shares Outstanding166,013,670
10 Day Avg. Volume182,000
30 Day Avg. Volume232,875
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)-0.65
Price to Sales (P/S)1.28
P/FCF Ratio-16.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.1
Revenue Forecast (FY)C$91.50M
Northern Graphite Business Overview & Revenue Model
Company Description
Northern Graphite Corporation explores for and develops graphite properties in Canada. The company's principal asset is the Bissett Creek graphite project located in southern Canada, which comprises Ontario mining lease number 109550 covering 565 ...
How the Company Makes Money
Northern Graphite primarily makes money by selling natural graphite products produced from its mining and processing activities. Its revenue model is based on: (1) Graphite product sales: generating revenue through the sale of processed graphite (...
Northern Graphite Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.23M | 22.73M | 17.10M | 11.99M | 0.00 |
| Gross Profit | -3.96M | -310.00K | 1.93M | 2.65M | -31.50K |
| EBITDA | -10.77M | -20.96M | -14.55M | -7.79M | -3.19M |
| Net Income | -21.31M | -38.80M | -23.64M | -14.55M | -3.23M |
Balance Sheet | |||||
| Total Assets | 73.53M | 77.24M | 91.23M | 102.06M | 19.66M |
| Cash, Cash Equivalents and Short-Term Investments | 2.54M | 373.00K | 3.60M | 5.64M | 4.33M |
| Total Debt | 47.68M | 41.10M | 27.55M | 21.90M | 0.00 |
| Total Liabilities | 111.48M | 98.64M | 75.44M | 65.88M | 1.92M |
| Stockholders Equity | -37.95M | -21.40M | 15.79M | 36.18M | 17.73M |
Cash Flow | |||||
| Free Cash Flow | -1.54M | -1.70M | -9.65M | -16.96M | -2.08M |
| Operating Cash Flow | 2.27M | -1.18M | -4.73M | -10.51M | -1.40M |
| Investing Cash Flow | -4.87M | -563.00K | -4.48M | -51.57M | -1.30M |
| Financing Cash Flow | 4.77M | -1.01M | 7.34M | 63.38M | 5.06M |
Northern Graphite Technical Analysis
Negative
0.22
Price Trends
0.21
Negative
0.22
Negative
0.19
Negative
Market Momentum
-0.01
Negative
39.84
Neutral
6.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NGC, the sentiment is Negative. The current price of 0.22 is above the 20-day moving average (MA) of 0.18, above the 50-day MA of 0.21, and above the 200-day MA of 0.19, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 39.84 is Neutral, neither overbought nor oversold. The STOCH value of 6.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NGC.
Northern Graphite Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
44 Neutral | C$24.07M | -1.16 | 115.07% | ― | -15.39% | 46.81% | |
| ― | C$20.72M | -21.55 | -5.19% | ― | ― | 87.71% | |
42 Neutral | C$41.68M | -15.55 | -16.33% | ― | ― | 23.97% | |
41 Neutral | C$5.20M | -3.66 | -28.23% | ― | ― | -111.47% |
* Basic Materials Sector Average
TSE:NGC
Northern Graphite
0.15
0.06
70.59%
TSE:AMY
RecycLiCo Battery Materials
0.08
0.02
33.33%
TSE:FMS
Focus Graphite
0.39
0.30
352.94%
TSE:LMR
Lomiko Metals
0.07
-0.05
-45.83%
TSE:IBAT
International Battery Metals
0.14
-0.66
-82.91%
Northern Graphite Corporate Events
Business Operations and Strategy
Northern Graphite Stresses Western Supply Push After U.S. Drops China Graphite Duties
Positive
Mar 12, 2026
Northern Graphite has responded to a U.S. International Trade Commission decision that removes 160% duties on Chinese graphite active anode material, saying it is disappointed but still confident in momentum to build a domestic graphite industry. ...
Business Operations and StrategyPrivate Placements and Financing
Northern Graphite Raises $2 Million in Flow-Through Share Financing to Advance Exploration
Positive
Mar 10, 2026
Northern Graphite has closed a non-brokered private placement of 7,142,858 flow-through common shares at $0.28 each, raising $2 million in gross proceeds. The company paid a finder’s fee in shares and cash, and the new securities are subject...
Business Operations and StrategyExecutive/Board Changes
Northern Graphite Ties Executive Equity Awards to Strategic Growth Milestones
Positive
Mar 9, 2026
Northern Graphite has granted 2.0 million deferred share units and 2.0 million stock options to a senior executive as part of its long-term incentive, reward and retention programs. The stock options vest immediately with a five-year term, while t...
Business Operations and Strategy
Northern Graphite to Auction Lac des Iles Output via Metalshub Platform
Positive
Mar 2, 2026
Northern Graphite has partnered with Metalshub, a digital platform for the metals and mining industry, to run online auctions for natural flake graphite from its Lac des Iles mine in Quebec. The initiative will cover multiple graphite grades and i...
Business Operations and Strategy
Northern Graphite Moves Graphite Sales Online Through Metalshub Partnership
Positive
Mar 2, 2026
Northern Graphite has partnered with digital metals trading platform Metalshub to run online auctions for multiple grades of natural flake graphite from its Lac des Iles mine in Quebec. The move is intended to digitalize the majority of the compan...
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.