Class 1 Nickel & Technologies (NICO) AI Stock Analysis

• Market Cap: C$22.07M
• Dividend Yield: N/A
• Average Volume (3M): 19.50K
• Price to Earnings (P/E): ―
• Beta (1Y): -1.13
• Revenue Growth: N/A
• EPS Growth: 37.82%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 183,938,350
• 10 Day Avg. Volume: 2,100
• 30 Day Avg. Volume: 19,504
• PEG Ratio: 1.70
• Price to Book (P/B): -19.93
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -32.10
• 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: 43 Neutral
• Price Target: C$0.11 ▲(85.00% Upside)

The score is primarily constrained by weak financial performance: no meaningful revenue, continued losses and cash burn, and negative equity with rising debt. Technicals are mixed (some longer-term improvement but near-term weakness), while valuation is hindered by negative earnings and no provided dividend support.

Positive Factors

Battery metals exposure

Class 1 Nickel’s explicit focus on nickel and battery-related metals positions it to benefit from multi-year secular demand for EV and energy-storage raw materials. As an exploration-stage developer, this strategic exposure supports long-term project value if commodity demand and project economics align.

Reduced historical losses

Material improvement in losses versus 2021–2022 indicates tighter cost control or progress on project execution. Sustained lower losses lengthen operational runway and reduce near-term financing pressure, improving odds of reaching exploration milestones without severe dilution.

Improved 2024 cash flow trends

The notable reduction in operating cash burn in 2024 and an increase in reported assets suggest incremental balance-sheet stabilization. Persistently lower outflows improve short-term liquidity dynamics and provide more time to advance exploration or secure project financing from a stronger position.

Negative Factors

Pre-revenue profile

A multi-year absence of meaningful revenue makes the business fully dependent on financing and speculative future resource development. Without operating revenue, the company faces sustained execution and funding risk until projects commercialize or are monetized.

Negative equity and rising debt

Negative shareholders’ equity combined with rising debt constrains financial flexibility and raises creditor scrutiny. This capital structure limits options for project financing, increases refinancing and interest risk, and elevates the probability of dilutive capital raises to fund operations.

Persistent cash burn

Sustained negative operating and free cash flow require repeated external funding to sustain exploration and corporate activity. Ongoing burn increases dependency on capital markets, raising dilution risk and potentially delaying or derailing development timelines absent clear paths to positive cash generation.

Class 1 Nickel & Technologies Business Overview & Revenue Model

Company Description

Class 1 Nickel and Technologies Limited engages in the exploration and development of minerals and base metals in Canada. The company explores for nickel, copper, and cobalt sulphide deposits. It primarily holds a 100% interest in the Alexo-Dundonald project, comprising 95 Boundary Cell Mining Claims, Single Cell Mining Claims, Leased Claims, and Patented Claims, which covers an approximately 1,895 hectares located to the northeast of Timmins, Ontario. It also holds option to acquire 100% interest in the Somanike Project located in the Abitibi Region of Quebec, and 100% interest in the River Valley PGE Project located to northeastern Ontario, Canada. The company was formerly known as Legendary Ore Mining Corporation and changed its name to Class 1 Nickel and Technologies Limited in September 2019. Class 1 Nickel and Technologies Limited was incorporated in 1989 and is headquartered in Toronto, Canada.

How the Company Makes Money

Class 1 Nickel & Technologies generates revenue primarily through the exploration and potential development of its mining assets. The company aims to identify and develop economically viable mineral deposits, which can be either sold to or partnered with larger mining companies for further development and eventual production. Revenue streams include the sale of mineral rights, joint venture agreements, and potential royalties from production. Success in generating income depends significantly on exploration outcomes, market conditions for nickel and related minerals, and strategic partnerships with other mining entities.

Class 1 Nickel & Technologies Financial Statement Overview

Summary

Financials indicate a high-risk, pre-revenue profile: essentially no revenue across 2019–2024 with persistent operating and net losses (2024 net loss ~2.0M). Cash flow remains negative with ongoing operating and free cash flow burn (2024 operating cash flow ~-1.05M) despite improvement vs 2023. Balance sheet flexibility is constrained by negative shareholders’ equity in 2022–2024 (2024 ~-1.68M) alongside rising debt (2024 ~2.46M).

Income Statement

The company has reported essentially no revenue across 2019–2024, while operating losses and net losses remain persistent (2024 net loss of ~2.0M, similar to 2023). Losses have improved materially versus 2021–2022 (when net losses were far larger), but profitability is still structurally weak given the lack of revenue generation and continued negative operating results.

Balance Sheet

Financial position shows elevated risk: shareholders’ equity is negative in 2022–2024 (2024 equity about -1.68M), while debt has increased (2024 total debt ~2.46M vs ~1.05M in 2022). Total assets improved in 2024 (~1.57M) from 2023, but negative equity limits balance-sheet flexibility and makes leverage hard to support without improved operating performance or external financing.

Cash Flow

Cash burn remains significant, with negative operating cash flow and negative free cash flow every year shown (2024 operating cash flow about -1.05M). There is a notable improvement in cash burn in 2024 versus 2023 (materially less negative), but free cash flow growth has turned negative in 2024 and the business remains dependent on funding given ongoing outflows.

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	0.00	0.00	0.00	0.00	0.00	8.95K
EBITDA	-1.40M	-1.77M	-158.17K	-5.60M	-15.35M	-1.73M
Net Income	-1.74M	-2.04M	-2.02M	-5.60M	-15.35M	-1.73M
Balance Sheet
Total Assets	847.11K	1.57M	546.20K	854.48K	2.70M	4.02M
Cash, Cash Equivalents and Short-Term Investments	797.31K	1.48M	82.40K	106.46K	2.15M	3.86M
Total Debt	2.00M	2.46M	1.97M	1.05M	0.00	22.00
Total Liabilities	2.75M	3.25M	2.48M	2.33M	1.55M	518.84K
Stockholders Equity	-1.90M	-1.68M	-1.93M	-1.48M	1.15M	3.50M
Cash Flow
Free Cash Flow	-1.08M	-1.05M	-2.26M	-5.97M	-6.75M	-1.55M
Operating Cash Flow	-1.08M	-1.05M	-2.26M	-5.97M	-6.75M	-1.55M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	1.53M	2.44M	2.24M	3.92M	5.04M	5.24M

Class 1 Nickel & Technologies Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NICO, the sentiment is Neutral. The current price of 0.06 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.10, and below the 200-day MA of 0.11, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.24 is Neutral, neither overbought nor oversold. The STOCH value of 21.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NICO.

Class 1 Nickel & Technologies 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%
SPC	47 Neutral	C$33.12M	-8.02	-150.61%	―	―	10.17%
EVNI	47 Neutral	C$24.47M	-9.61	-58.79%	―	―	21.31%
TN	46 Neutral	C$52.40M	-63.71	-7.40%	―	―	74.27%
AMY	45 Neutral	C$29.78M	-34.85	-2.06%	―	―	93.75%
NICO	43 Neutral	C$22.07M	-12.37	―	―	―	37.82%

Class 1 Nickel & Technologies Corporate Events

Green Panda Capital Extends Closing of $300,000 Private Placement

Green Panda Capital Corp. has extended the closing date of its previously announced non-brokered private placement of up to $300,000, now targeting completion of the remaining tranche on or before February 25, 2026, subject to TSX Venture Exchange and other regulatory approvals. The company plans to use the net proceeds for general corporate purposes, underlining its need for incremental working capital as it advances its corporate strategy, while the modest financing size suggests a focus on maintaining operational flexibility rather than undertaking large-scale expansion at this stage.

The most recent analyst rating on (TSE:NICO) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Class 1 Nickel & Technologies stock, see the TSE:NICO Stock Forecast page.

Green Panda Capital Extends Closing of $300,000 Private Placement

Green Panda Capital Corp. has extended the closing date of its previously announced non-brokered private placement of up to $300,000, after completing a first tranche on November 26, 2025 that raised $150,000 through the issuance of 3,000,000 common shares at $0.05 per share, subject to a statutory hold period until March 27, 2026. The company now expects to close the remaining tranche or tranches on or before January 26, 2026, pending regulatory approvals from the TSX Venture Exchange, and plans to use the net proceeds for general corporate purposes, underscoring its ongoing efforts to secure working capital and maintain financial flexibility.

The most recent analyst rating on (TSE:NICO) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Class 1 Nickel & Technologies stock, see the TSE:NICO Stock Forecast page.

Green Panda Capital Corp. Completes First Tranche of Private Placement

Green Panda Capital Corp., a company listed on the TSX Venture Exchange, has successfully completed the first tranche of its private placement financing, raising $150,000 by issuing 3,000,000 common shares at $0.05 each. The funds raised will be used for general corporate purposes, and the shares are subject to a four-month hold period. A finder’s fee of $7,500 was paid in connection with this tranche.

Green Panda Capital Corp. Announces Private Placement and Leadership Change

Green Panda Capital Corp., a company listed on the TSX Venture Exchange, announced a non-brokered private placement of up to 6,000,000 common shares at $0.05 per share, aiming to raise $300,000 for general corporate purposes. Additionally, the company appointed Ivan Riabov as the new Chief Financial Officer and Corporate Secretary, succeeding Steven Olsthoorn, marking a strategic shift in its leadership to enhance its corporate strategy.