Nickel North Exploration (NNX) AI Stock Analysis

• Market Cap: C$5.27M
• Dividend Yield: N/A
• Average Volume (3M): 78.54K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.03
• Revenue Growth: N/A
• EPS Growth: 14.29%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 105,435,490
• 10 Day Avg. Volume: 148,997
• 30 Day Avg. Volume: 78,542
• PEG Ratio: 0.22
• Price to Book (P/B): -0.71
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.40
• 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: 45 Neutral
• Price Target: C$0.05 ▲(145.00% Upside)

The score is held down primarily by very weak financial performance (pre-revenue, ongoing losses, negative free cash flow, and deeply negative equity with debt). Technicals are a partial offset with strong trend indicators, but overbought signals increase downside risk. Valuation remains unattractive/unclear due to negative earnings and no dividend.

Positive Factors

Improving cash flow trend

Operating cash outflows have narrowed substantially versus 2022, which meaningfully extends runway for a pre-revenue explorer. Sustained lower burn increases the chance management can advance projects without immediate dilutive financing, improving long-term survivability.

Narrowing net losses

Net losses have materially decreased year-over-year, indicating improved cost control or operating efficiency. If this structural trend continues it reduces cumulative funding needs and increases the probability the company can reach break-even with successful exploration outcomes.

Minimal headcount lowers fixed costs

A reported headcount of zero implies very low ongoing payroll and overhead, which is durable for conserving cash in an early-stage explorer. Lower fixed costs reduce cash runway needs, though it may limit in-house technical capacity and require outsourcing for key work.

Negative Factors

Deeply negative shareholders' equity

Materially negative equity reflects accumulated losses and balance-sheet deterioration, constraining the company’s ability to absorb shocks or secure non-dilutive financing. This structural weakness increases default and refinancing risk over the medium term.

Significant debt against tiny asset base

High nominal debt relative to negligible assets and negative equity limits liquidity and credit capacity. This structural imbalance raises creditor risk, curtails investment in exploration, and makes future fundraising more difficult or dilutive over months ahead.

No revenue / pre-revenue status

The company generates no operational revenue, leaving it entirely dependent on external capital and exploration success. Without a top-line, sustained cash flow generation is uncertain and the business model faces structural risk until commercial resources or revenue sources are established.

Nickel North Exploration Business Overview & Revenue Model

Company Description

Nickel North Exploration Corp., an exploration stage company, engages in the acquisition, exploration, and evaluation of mineral property interests in Canada. The company explores for copper, nickel, and platinum group metals resources. It holds a 100% interest in the Hawk Ridge property consisting of 624 contiguous mineral claims covering an area of approximately 26,868.94 hectares located in Ungava Bay, Northern Quebec. The company was formerly known as Orient Venture Capital Inc. and changed its name to Nickel North Exploration Corp. in July 2012. Nickel North Exploration Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Nickel North Exploration generates revenue through the exploration and development of its mineral properties. The company makes money by increasing the value of its exploration assets through exploration activities, such as drilling and geological surveys, which can lead to the discovery of economically viable nickel and base metal deposits. Once a deposit is identified and proven economically feasible, Nickel North can either develop the mine to extract and sell the minerals or enter into joint ventures or partnerships with larger mining companies to share the cost and profit. Additionally, the company may earn income by selling or optioning its exploration properties to other mining companies seeking to expand their resource bases. Key revenue streams include the sale of minerals, joint venture agreements, and property transactions. Strategic partnerships and favorable market conditions for nickel, driven by demand from the electric vehicle and renewable energy sectors, significantly contribute to the company's earnings.

Nickel North Exploration Financial Statement Overview

Summary

Financial condition is very weak: revenue is $0 across periods, losses persist (TTM net loss -$485K), cash flow remains negative (TTM FCF -$148K), and the balance sheet is highly stressed with deeply negative equity (-$3.0M) alongside meaningful debt ($2.55M) and minimal assets ($71K).

Income Statement

Results remain weak: revenue is consistently $0 across the annual periods and TTM (Trailing-Twelve-Months), while operating losses persist (TTM EBIT of -$301K; TTM net loss of -$485K). Losses have narrowed versus 2022 (net loss -$935K) but profitability is still structurally negative with no visible top-line base to absorb costs.

Balance Sheet

The balance sheet is highly stressed. TTM (Trailing-Twelve-Months) stockholders’ equity is deeply negative (-$3.0M) alongside sizable debt ($2.55M), which is a key credit risk signal and limits financial flexibility. Total assets are very small ($71K TTM), and the shift from positive equity in 2020–2021 to materially negative equity from 2022 onward highlights significant deterioration.

Cash Flow

Cash burn continues but is relatively moderate in the latest period: TTM (Trailing-Twelve-Months) operating cash flow is -$148K and free cash flow is -$148K. Cash flow improved materially versus 2022 (operating cash flow -$839K), but it remains consistently negative, indicating ongoing reliance on external funding to sustain operations.

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	-5.50K	-609.00
EBITDA	-289.33K	-288.65K	-35.45K	-765.07K	-87.84K	-198.77K
Net Income	-484.65K	-508.70K	-621.84K	-935.24K	-241.37K	-230.37K
Balance Sheet
Total Assets	71.07K	30.41K	46.22K	142.74K	10.82M	10.85M
Cash, Cash Equivalents and Short-Term Investments	44.68K	15.05K	26.58K	35.31K	10.12K	51.89K
Total Debt	2.55M	2.43M	2.11M	1.80M	1.53M	1.30M
Total Liabilities	3.05M	2.84M	2.35M	1.87M	1.80M	1.70M
Stockholders Equity	-2.98M	-2.81M	-2.30M	-1.73M	9.02M	9.14M
Cash Flow
Free Cash Flow	-147.79K	-109.17K	-137.48K	-838.88K	-161.78K	-70.48K
Operating Cash Flow	-147.79K	-109.17K	-137.48K	-838.88K	-146.44K	-70.13K
Investing Cash Flow	0.00	0.00	28.75K	0.00	-15.34K	-350.00
Financing Cash Flow	178.72K	97.64K	100.00K	864.07K	120.00K	90.00K

Nickel North Exploration Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NNX, the sentiment is Neutral. The current price of 0.02 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.03, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.69 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 Neutral sentiment for TSE:NNX.

Nickel North Exploration 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%
VRR	50 Neutral	C$4.00M	-3.47	-27.93%	―	―	84.01%
RXM	48 Neutral	C$4.68M	-8.47	―	―	―	43.81%
NNX	45 Neutral	C$5.27M	-9.38	―	―	―	14.29%
ADDY	34 Underperform	C$6.37M	-1.29	-63.42%	―	―	-54.44%

Nickel North Exploration Corporate Events

Nickel North Launches $3 Million Private Placement to Advance Quebec Critical Minerals Project

Nickel North Exploration Corp. has announced a non-brokered private placement of up to 60 million units at $0.05 per unit, for gross proceeds of up to $3 million, with each unit consisting of one common share and one-half warrant exercisable at $0.08 for two years. The financing, which includes insider participation and remains subject to TSX Venture Exchange and other regulatory approvals, will fund field exploration at the company’s Hawk Ridge Ni-Cu-PGE-Co project in Northern Quebec, general working capital and potential asset acquisitions, underscoring Nickel North’s efforts to advance its critical minerals portfolio in a strategically important jurisdiction for battery and energy-transition metals.

The most recent analyst rating on (TSE:NNX) stock is a Sell with a C$0.05 price target. To see the full list of analyst forecasts on Nickel North Exploration stock, see the TSE:NNX Stock Forecast page.

Nickel North Uncovers Strong Scandium Anomalies at Hawk Ridge, Boosting Critical Metals Potential

Nickel North Exploration has identified strong scandium and vanadium anomalies in soil, rock and historical core samples at its Hawk Ridge copper-nickel-PGE project in Northern Quebec, with assays returning scandium values up to 83 ppm and vanadium values up to 378 ppm and showing a strong positive correlation between the two metals across multiple sample types. The new scandium signature, alongside previously defined copper, nickel, cobalt, palladium, platinum and gold anomalies, expands the project’s exploration potential, points to possible rare earth element mineralization and will be incorporated into updated geological and mineralization models to guide 2026 fieldwork, including REE assays and extraction studies that could add byproduct value and enhance Hawk Ridge’s positioning in the critical metals supply chain.

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

Nickel North Expands Board, Adds International Minerals Executive as Director

Nickel North Exploration Corp. has expanded its board of directors from four to five members and appointed Rujia (Edward) Gu as a new director. Gu brings a decade of international mineral trading experience in Nigeria, including lead, zinc, and columbite-tantalite, alongside lithium mine development, exploration, and investment in processing plants, adding operational and international supply chain expertise to Nickel North’s governance. His appointment strengthens the company’s leadership bench as it advances its Hawk Ridge critical minerals project in Quebec, potentially enhancing its ability to navigate global mineral markets and support its positioning within the province’s strategic minerals development plan.

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

Nickel North Awards 8.6 Million Stock Options to Advance Quebec Critical Minerals Project

Nickel North Exploration Corp. has granted a total of 8.6 million stock options under its 2025 Stock Option Plan to directors, officers, employees and consultants, with 8.1 million options vesting immediately and expiring five years from the grant date, and 500,000 options for an investor relations consultant vesting in stages over 12 months. The sizeable option grant strengthens long-term incentives for management and key partners as the company advances its Hawk Ridge critical minerals project in Quebec, underscoring its strategic role in the province’s push to develop critical and strategic mineral resources.

The most recent analyst rating on (TSE:NNX) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Nickel North Exploration stock, see the TSE:NNX Stock Forecast page.

Nickel North Confirms Strong Cu-Ni-PGE-Au Soil Anomalies at Hawk Ridge Project

Nickel North Exploration has received final laboratory assay results from 205 soil samples at its Hawk Ridge project in northern Québec, confirming strong copper, nickel and precious metal anomalies and validating earlier handheld XRF readings. The high-precision analyses identified significant palladium, platinum and gold values, verified high-grade copper and anomalous nickel, and revealed a strong correlation between copper and palladium that the company plans to use as a pathfinder for high-grade sulphide mineralization. The assays refine and expand targets across key zones such as Falco 7, Gamma, Hope Advance, Pio and Lucille, support the geological model of extensive sulphide saturation, and will be integrated with existing geological and geophysical data to update mineralization models and delineate priority targets for upcoming drilling and field programs at Hawk Ridge.

The most recent analyst rating on (TSE:NNX) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Nickel North Exploration stock, see the TSE:NNX Stock Forecast page.

Nickel North Exploration Announces Successful 2025 AGM Results

Nickel North Exploration Corp. announced the successful results of its 2025 annual general meeting, where shareholders approved all proposed items, including the election of four directors and the appointment of MNP LLP as the company’s auditor. The approval of the company’s Stock Option Plan was also secured, pending approval from the TSX Venture Exchange. These developments are expected to strengthen Nickel North’s governance and operational framework, supporting its strategic objectives in the exploration of critical minerals in Quebec.

Nickel North to Assay Soil Samples for Enhanced Exploration at Hawk Ridge

Nickel North Exploration Inc. announced the recovery and planned assay of 205 soil samples from its Hawk Ridge Project, following the discovery of strong cobalt, nickel, and copper anomalies through previous XRF analysis. The company aims to use ICP-MS analysis to further study these samples, integrating them with other data to develop new exploration and drilling targets for the 2026 season. This initiative highlights the potential for high-grade sulfide mineralization in the Lucille and Falco 7 zones, reinforcing the project’s significance and potentially enhancing Nickel North’s market positioning.