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Nicola Mining Inc (TSE:NIM)
:NIM
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Nicola Mining (NIM) AI Stock Analysis

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TSE:NIM

Nicola Mining

(NIM)

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Underperform 39 (OpenAI - 4o)
Rating:39Underperform
Price Target:
C$1.00
▲(17.65% Upside)
Nicola Mining's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, negative equity, and weak cash flows. Technical analysis indicates bearish momentum, adding to the negative outlook. The valuation is unattractive due to a negative P/E ratio and lack of dividends, further weighing down the score.
Positive Factors
Processing Facility
The processing facility provides a diversified revenue stream, reducing reliance on self-mined resources and enhancing revenue stability.
Partnerships
Strategic partnerships can enhance resource sharing and project collaboration, supporting long-term growth and operational efficiency.
Industry Focus
Focusing on precious metals like gold and silver positions the company in a stable market with consistent demand, supporting long-term viability.
Negative Factors
Negative Equity
Negative equity reflects financial instability and poses a risk of insolvency, limiting the company's ability to secure financing and invest in growth.
Declining Revenues
Significant revenue contraction indicates challenges in market demand or operational execution, threatening long-term financial health.
Weak Cash Flows
Weak cash generation limits the company's ability to fund operations and growth initiatives, increasing reliance on external financing.

Nicola Mining (NIM) vs. iShares MSCI Canada ETF (EWC)

Nicola Mining Business Overview & Revenue Model

Company DescriptionNicola Mining Inc., a junior exploration and custom milling company, engages in the identification, acquisition, and exploration of mineral property interests in Canada. The company primarily explores for gold, silver, lead, zinc, and copper deposits. It holds a 100% interest in the Treasure Mountain project comprising 30 mineral claims covering 2,850 hectares, and 1 mineral lease located to the northeast of Hope, British Columbia; and the New Craigmont project consisting of 22 contiguous mineral claims covering approximately 10,913 hectares, and 10 mineral leases covering an area of approximately 347 hectares located in the Merritt, British Columbia. It also has interests in the sand and gravel Merritt Mill property located to the northwest of Merritt, British Columbia. In addition, it engages in residential property business, which covers 5 residential lots totaling approximately 488.70 acres; and the sale of gold and silver concentrates. The company was formerly known as Huldra Silver Inc. and changed its name to Nicola Mining Inc. in June 2015. Nicola Mining Inc. was incorporated in 1980 and is headquartered in Lower Nicola, Canada.
How the Company Makes MoneyNicola Mining generates revenue through multiple streams, primarily from the sale of precious metals such as gold and silver. The company earns income by exploring and developing its mining properties, which involves extracting minerals from the ground and selling them on the market. Additionally, Nicola Mining operates a processing facility that enables it to process ore from third-party miners, creating an additional revenue stream. Key partnerships with other mining companies and local stakeholders also contribute to its earnings, allowing for collaborative projects and shared resources.

Nicola Mining Financial Statement Overview

Summary
Nicola Mining faces significant financial challenges across all verticals. The income statement reveals declining revenues and persistent losses. The balance sheet highlights high leverage and insolvency risks due to negative equity. Cash flow statements show deteriorating cash generation and reliance on external financing. These factors collectively indicate a company under financial strain, with critical areas needing improvement to stabilize and grow.
Income Statement
25
Negative
The income statement reveals a challenging financial period for Nicola Mining. The company has experienced declining revenues, from $1,618,000 in 2023 to $818,157 in 2024, reflecting a significant revenue contraction. Gross profit margins are negative due to higher costs of goods sold than revenues. The net profit margin is also negative, demonstrating operating losses. EBIT and EBITDA margins are similarly negative, indicating inefficiencies in operations. Overall, the company faces substantial profitability challenges.
Balance Sheet
20
Very Negative
Nicola Mining's balance sheet shows high financial risk. The company's stockholders' equity has turned negative at -$9,814,620 in 2024, indicating insolvency. The debt-to-equity ratio is not calculable due to negative equity, but the presence of substantial total debt ($4,535,667) against minimal equity highlights high leverage. The equity ratio is also negative, further underscoring financial instability. These figures suggest a precarious financial position with significant risk of financial distress.
Cash Flow
30
Negative
The cash flow statement for Nicola Mining indicates negative operating cash flows and a negative free cash flow of -$3,764,284 in 2024. This decline from positive cash flows in the previous year signals weakening cash-generating capabilities. The operating cash flow to net income ratio and free cash flow to net income ratio are unfavorable, highlighting inefficiencies in converting income into cash. Despite these issues, the company has managed to secure some financing, which provides limited liquidity support.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue897.40K818.16K1.62M0.000.000.00
Gross Profit-2.16M-3.78M-1.52M-975.00K-1.48M-1.04M
EBITDA-99.20K-4.40M-1.75M1.53M-1.77M-1.35M
Net Income-977.71K-5.23M-3.33M-52.83K-3.40M-2.89M
Balance Sheet
Total Assets12.87M10.66M25.72M18.58M12.36M11.35M
Cash, Cash Equivalents and Short-Term Investments5.10M2.54M4.76M895.77K916.29K824.71K
Total Debt4.14M4.54M4.25M5.73M7.04M6.55M
Total Liabilities20.08M20.47M19.44M16.51M11.52M11.15M
Stockholders Equity-7.21M-9.81M6.28M2.08M841.42K198.84K
Cash Flow
Free Cash Flow-4.06M-3.76M3.82M1.67M-2.74M-1.13M
Operating Cash Flow-3.64M-3.31M3.87M1.73M-2.22M-1.12M
Investing Cash Flow-120.24K-1.59M-88.70K-75.65K-336.87K-11.50K
Financing Cash Flow1.58M1.60M78.24K-1.68M2.65M1.46M

Nicola Mining Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.85
Price Trends
50DMA
0.99
Negative
100DMA
0.83
Positive
200DMA
0.60
Positive
Market Momentum
MACD
-0.04
Positive
RSI
33.41
Neutral
STOCH
11.18
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NIM, the sentiment is Neutral. The current price of 0.85 is below the 20-day moving average (MA) of 0.98, below the 50-day MA of 0.99, and above the 200-day MA of 0.60, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 33.41 is Neutral, neither overbought nor oversold. The STOCH value of 11.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NIM.

Nicola Mining Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
42
Neutral
C$65.43M1,600.000.17%
40
Underperform
C$43.80M-16.88-4.45%25.24%
39
Underperform
C$184.49M-139.0680.31%
39
Underperform
C$91.28M-3.01%16.83%
32
Underperform
C$77.18M-162.80%-8.78%
26
Underperform
C$73.94M-10.8063.92%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:NIM
Nicola Mining
0.85
0.57
203.57%
TSE:CDB
Cordoba Minerals
0.85
0.38
80.85%
TSE:LCE
Century Lithium
0.27
-0.03
-10.00%
TSE:HPQ
HPQ-Silicon Resources
0.18
-0.06
-25.00%
TSE:SYH
Skyharbour Resources
0.32
-0.09
-22.89%
TSE:WM
Wallbridge Mng Co
0.08
<0.01
14.29%

Nicola Mining Corporate Events

Business Operations and Strategy
Nicola Mining Expands Dominion Gold Project with New Vein Discoveries
Positive
Nov 4, 2025

Nicola Mining Inc. has completed its 2025 work at the Dominion Gold Project, including all mine development for a 10,000-tonne bulk sample, which is set to recommence in July 2026. The company discovered three additional veins during the development phase, indicating a larger project scope than initially anticipated. These discoveries provide new exploration targets and enhance the project’s potential, impacting Nicola’s operational strategy and industry positioning positively.

The most recent analyst rating on (TSE:NIM) stock is a Sell with a C$1.00 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Nicola Mining Plans Nasdaq Uplisting and Files Base Shelf Prospectus
Positive
Oct 27, 2025

Nicola Mining Inc. has announced its intention to uplist its common shares to the Nasdaq Capital Market, applying to list under the symbol ‘NICM’. Concurrently, the company filed a Preliminary Short Form Base Shelf Prospectus with Canadian regulators, allowing it to offer various securities up to C$10,000,000 over a 25-month period. This move is expected to enhance Nicola’s market presence and provide greater financial flexibility, potentially impacting its operations and stakeholder interests positively.

The most recent analyst rating on (TSE:NIM) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and Strategy
Nicola Mining Plans 2026 Drilling at Treasure Mountain Silver Project
Positive
Oct 15, 2025

Nicola Mining has announced plans for a 2026 exploration drilling program at its Treasure Mountain Silver Project, a permitted silver mine located in British Columbia. The program is supported by a multi-year exploration permit and a ten-year mine lease extension, aiming to explore sulphide-rich veins northwest of the suspended mine. This initiative follows extensive preparatory work, including geophysical surveys and soil sampling, and is part of Nicola’s strategy to capitalize on higher silver prices and the mine’s potential. The announcement has generated increased interest from investors and strategic partners, highlighting the project’s significance in Nicola’s portfolio.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and Strategy
Nicola Mining Engages Atrium Research to Boost Market Visibility
Positive
Oct 6, 2025

Nicola Mining Inc. has engaged Atrium Research Corporation to provide research services, including reports and interviews, to enhance its investment case. This strategic move aims to increase visibility and attract potential investors, with Atrium offering insights based on industry data and management discussions. The engagement, subject to TSX Venture Exchange approval, reflects Nicola’s efforts to strengthen its market positioning and stakeholder engagement.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Nicola Mining Completes Gravel Pit Expansion and Cement Plant Construction
Positive
Sep 29, 2025

Nicola Mining Inc., in partnership with Lower Nicola Site Services Ltd, has completed the expansion of its gravel pit and the construction of a cement ready-mix plant. This development, supported by significant permits, enables the company to supply materials for major infrastructure projects, including Teck Resources’ Highland Valley Copper expansion. The operations are expected to extend the gravel pit’s life for decades, enhancing Nicola’s role in regional infrastructure and community collaboration.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Nicola Mining Converts Debentures, Boosting Major Shareholder’s Stake
Neutral
Sep 23, 2025

Nicola Mining Inc. announced the conversion of $3.9 million in convertible debentures into common shares, significantly increasing Concept Capital Management’s stake in the company to 20.96%. This conversion strengthens Concept’s position as a major shareholder, potentially impacting Nicola’s strategic direction and market influence.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and Strategy
Nicola Mining Secures Five-Year Extension for New Craigmont Copper Project
Positive
Sep 17, 2025

Nicola Mining Inc. has secured five-year extensions for its six mining leases at the New Craigmont Property, enhancing the value of its 10,800-hectare copper project, which is adjacent to Canada’s largest copper mine. This extension supports Nicola’s strategic shift from exploration to operation, with a focus on environmental diligence and maintaining permits, potentially accelerating its operational timeline.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.10 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Nicola Mining Begins Gold Concentrate Shipments with Talisker Partnership
Positive
Sep 8, 2025

Nicola Mining Inc. has commenced shipping gold concentrate through a partnership with Talisker Resources, generating approximately US$2.3 million from the sale of 707 ounces of gold in August. The company’s recent upgrades, including automation and installation of a large concentrator, have improved production efficiency and recovery rates, positioning Nicola to benefit from gold and silver price trends. The company’s operations are supported by British Columbia’s Ministry of Mining and Critical Minerals, highlighting Nicola’s potential as a hub for smaller mining projects.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.10 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

Private Placements and Financing
Nicola Mining Secures $807,791 from Accelerated Warrant Exercise
Positive
Aug 21, 2025

Nicola Mining Inc. announced the successful exercise of all outstanding share purchase warrants issued in February 2025, resulting in gross proceeds of approximately $807,791. This accelerated warrant exercise strengthens Nicola’s financial position, potentially enhancing its operational capabilities and market presence in the mining sector.

The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.10 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.

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.Date of analysis: Nov 08, 2025