Nicola Mining Inc (TSE:NIM)
:NIM
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Nicola Mining
(NIM)
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Rating:42Neutral
Price Target:
C$0.75
▼(-34.87% Downside)
Action:Reiterated
Date:05/17/26
The score is primarily constrained by weak financial performance—ongoing losses and a return to negative operating/free cash flow—despite strong TTM revenue growth. Technicals add further pressure with the stock trading below major moving averages and a negative MACD. Valuation is also a headwind due to a negative P/E and no stated dividend yield.
Positive Factors
Toll milling business model
Owning and operating a mill creates diversified, fee-based revenue opportunities that are less tied to commodity prices than direct mining. Durable tolling contracts and third‑party feed can provide steady throughput-linked cash inflows and scale benefits if utilization is sustained.
Negative Factors
Persistent unprofitable operations
Negative gross profit and ongoing operating losses indicate the core processing and project activities are not yet self-sustaining. Without sustained margin improvement, the company will struggle to convert revenue growth into lasting profitability over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Toll milling business model
Owning and operating a mill creates diversified, fee-based revenue opportunities that are less tied to commodity prices than direct mining. Durable tolling contracts and third‑party feed can provide steady throughput-linked cash inflows and scale benefits if utilization is sustained.
Read all positive factors
Nicola Mining (NIM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$179.03M
Dividend YieldN/A
Average Volume (3M)158.12K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth267.61%
EPS Growth-5.23%
CountryCA
Employees40
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding229,525,710
10 Day Avg. Volume157,132
30 Day Avg. Volume158,119
Financial Highlights & Ratios
PEG Ratio5.72
Price to Book (P/B)-53.76
Price to Sales (P/S)117.31
P/FCF Ratio-31.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.72Price Target Upside49.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.18
Revenue Forecast (FY)C$68.63M
Nicola Mining Business Overview & Revenue Model
Company Description
Nicola 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 depos...
How the Company Makes Money
Nicola Mining generates and expects to generate revenue through multiple potential streams: (1) Toll milling / processing fees: By operating its mineral processing facility, the company can earn fees for receiving and processing mineralized materi...
Nicola Mining Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.54M | 818.16K | 1.62M | 0.00 | 0.00 |
| Gross Profit | -1.53M | -3.78M | -1.52M | -975.00K | -1.48M |
| EBITDA | -4.77M | -4.40M | -1.75M | 1.53M | -1.77M |
| Net Income | -5.52M | -5.23M | -3.33M | -52.83K | -3.40M |
Balance Sheet | |||||
| Total Assets | 14.55M | 10.66M | 25.72M | 18.58M | 12.36M |
| Cash, Cash Equivalents and Short-Term Investments | 5.95M | 2.54M | 4.76M | 895.77K | 916.29K |
| Total Debt | 931.01K | 4.54M | 4.25M | 5.73M | 7.04M |
| Total Liabilities | 17.90M | 20.47M | 19.44M | 16.51M | 11.52M |
| Stockholders Equity | -3.35M | -9.81M | 6.28M | 2.08M | 841.42K |
Cash Flow | |||||
| Free Cash Flow | -5.75M | -3.76M | 3.82M | 1.67M | -2.74M |
| Operating Cash Flow | -5.57M | -3.31M | 3.87M | 1.73M | -2.22M |
| Investing Cash Flow | 521.44K | -1.59M | -88.70K | -75.65K | -336.87K |
| Financing Cash Flow | 5.28M | 1.60M | 78.24K | -1.68M | 2.65M |
Nicola Mining Technical Analysis
Negative
1.15
Price Trends
0.91
Negative
1.01
Negative
0.97
Negative
Market Momentum
-0.03
Negative
37.33
Neutral
56.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NIM, the sentiment is Negative. The current price of 1.15 is above the 20-day moving average (MA) of 0.81, above the 50-day MA of 0.91, and above the 200-day MA of 0.97, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 37.33 is Neutral, neither overbought nor oversold. The STOCH value of 56.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NIM.
Nicola Mining Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$336.21M | -7.22 | -340.79% | ― | ― | -54.25% | |
51 Neutral | C$617.93M | -107.42 | -6.97% | ― | ― | -28.95% | |
47 Neutral | C$217.92M | -13.34 | -16.70% | ― | 17.69% | 6.72% | |
43 Neutral | C$231.17M | -33.52 | -72.69% | ― | ― | -59.40% | |
42 Neutral | C$179.03M | -48.46 | 95.95% | ― | 267.61% | -5.23% |
* General Sector Average
TSE:NIM
Nicola Mining
0.78
0.42
113.70%
TSE:BMM
Black Mammoth Metals
4.29
2.53
143.75%
TSE:PNPN
Power Metallic Mines Inc
1.45
0.34
30.63%
TSE:DBG
Doubleview Gold
2.65
2.01
314.06%
TSE:AGX
Silver X Mining
0.76
0.60
375.00%
TSE:MOLY
Greenland Resources Inc.
1.71
0.03
1.79%
Nicola Mining Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Nicola Mining Raises US$6 Million in U.S. Offering to Fund Mill Expansion and B.C. Projects
Positive
Apr 14, 2026
Nicola Mining has closed a US$6.0 million underwritten public offering in the United States, issuing 930,233 American Depositary Shares and an equal number of warrants, with the ADSs now trading on the Nasdaq Capital Market under the ticker NICM. ...
Business Operations and Strategy
Nicola Mining Taps Global One Media to Boost Global Investor Visibility
Positive
Apr 14, 2026
Nicola Mining Inc., a junior Canadian miner with its own processing mill and key copper and precious metal assets in British Columbia, has hired Global One Media Group to spearhead a renewed digital outreach push to investors worldwide. The move u...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Nicola Mining Prices US$6 Million U.S. Offering and Secures Nasdaq Listing
Positive
Apr 13, 2026
Nicola Mining has priced a US$6.0 million underwritten public offering in the United States consisting of 930,233 American Depositary Shares and an equal number of warrants, with each ADS representing 12 common shares. The ADSs are expected to beg...
Business Operations and Strategy
UBC Study Reclassifies Nicola Mining’s New Craigmont as Porphyry-Linked Skarn, Sharpening Exploration Focus
Positive
Mar 19, 2026
Nicola Mining announced that a University of British Columbia Master’s thesis has reclassified its New Craigmont asset as a porphyry-linked skarn system genetically associated with Late Triassic magmatism in the Guichon Creek batholith. The ...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Nicola Mining Advances NASDAQ ADR Listing Plan Under New Qualitative Review Regime
Positive
Mar 9, 2026
Nicola Mining is advancing a strategy to access U.S. capital markets while retaining its Canadian base of operations in precious and base metals. With a fully permitted mill near Merritt and wholly owned copper and silver projects in British Colum...
Business Operations and StrategyDelistings and Listing Changes
Nicola Mining Boosts High-Grade Gold-Silver Output and Prepares New Bulk Sample
Positive
Feb 26, 2026
Nicola Mining Inc. has ramped up processing of high-grade gold and silver mill feed from Blue Lagoon Resources’ Dome Mountain Gold Project at its Merritt Mill, shifting from a combined gravity and flotation flowsheet to a flotation-only circ...
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.