Noram Lithium Corp (NRM) AI Stock Analysis

• Market Cap: C$9.84M
• Dividend Yield: N/A
• Average Volume (3M): 60.90K
• Price to Earnings (P/E): ―
• Beta (1Y): -1.80
• Revenue Growth: N/A
• EPS Growth: 48.66%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 89,452,614
• 10 Day Avg. Volume: 109,218
• 30 Day Avg. Volume: 60,895
• PEG Ratio: 0.06
• Price to Book (P/B): 1.39
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.66
• 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: 47 Neutral
• Price Target: C$0.11 ▼(-5.83% Downside)

The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and continued cash burn alongside declining equity). Technicals are modestly supportive (price above several key moving averages with mid-range RSI), but valuation support is limited due to negative earnings and no dividend yield.

Positive Factors

Stable Balance Sheet

A stable balance sheet with minimal leverage provides financial stability, allowing the company to focus on exploration and development without the immediate pressure of debt repayment.

Industry Demand

The rising demand for lithium due to the growth of electric vehicles and renewable energy storage presents a strong market opportunity for Noram Lithium, potentially driving future revenue growth.

Equity Financing

Relying on equity financing reduces the risk associated with debt, providing Noram Lithium with more flexibility to manage its financial resources during the exploration phase.

Negative Factors

No Revenue Generation

The absence of revenue generation indicates that Noram Lithium is still in the early stages of development, which may delay profitability and increase reliance on external funding.

High Cash Burn

A high cash burn rate without sufficient operating cash inflow can strain financial resources, necessitating continuous external financing to sustain operations.

Asset Management Challenges

Decreasing total assets may indicate difficulties in asset management, which could impact the company's ability to capitalize on its lithium projects and achieve long-term growth.

Noram Lithium Corp Business Overview & Revenue Model

Company Description

Noram Lithium Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. Its flagship property is the Zeus Lithium project that covers an area of approximately 1,113 hectares located in Clayton Valley, Nevada. The company was formerly known as Noram Ventures Inc. and changed its name to Noram Lithium Corp. in July 2021. Noram Lithium Corp. was incorporated in 2010 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Noram Lithium Corp makes money through the exploration and potential development of lithium resources. The company's revenue model is primarily based on the identification and enhancement of lithium properties, which are then either developed into operational mines or sold to larger mining entities. Key revenue streams include the sale of lithium, either directly or through joint ventures and partnerships with other mining companies. Additionally, Noram Lithium may generate income through strategic partnerships or agreements that provide funding for exploration activities in exchange for a stake in the projects or future lithium supply. Factors such as lithium market prices, successful resource discoveries, and favorable regulatory environments significantly contribute to its earnings potential.

Noram Lithium Corp Financial Statement Overview

Summary

Financials reflect a pre-revenue, loss-making profile with persistent negative operating/free cash flow. While 2025 shows smaller net losses and reduced operating cash outflow versus 2024, equity has fallen materially (2023–2025), highlighting ongoing funding/dilution risk despite low leverage.

Income Statement

The company reports no revenue across 2020–2025 (annual), while losses remain sizable and volatile. Net loss improved from 2024 to 2025 (about -$5.7M to -$3.2M), but profitability is still deeply negative and the business has not yet demonstrated a path to operating leverage.

Balance Sheet

Leverage appears low, with debt staying small relative to equity (debt-to-equity consistently near ~1%–3%). However, equity has declined materially from 2023 to 2025 (about $13.5M to $5.8M), reflecting ongoing losses and raising the risk of future dilution or funding needs if spending remains elevated.

Cash Flow

Cash burn is persistent, with operating and free cash flow negative each year. There is some improvement in 2025 versus 2024 (operating cash outflow narrows from about -$4.9M to -$2.2M), but free cash flow growth is sharply negative in 2025 and cash generation remains entirely dependent on external financing until operations scale.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-53.61K	-56.77K	-56.73K	-59.61K	-56.21K	-55.81K
EBITDA	-2.25M	-3.09M	-6.30M	-5.26M	-5.17M	-4.93M
Net Income	-2.31M	-3.15M	-5.66M	-5.32M	-4.18M	-5.01M
Balance Sheet
Total Assets	5.77M	6.30M	8.43M	5.94M	14.24M	5.04M
Cash, Cash Equivalents and Short-Term Investments	3.53K	577.36K	3.64M	1.60M	12.22M	1.62M
Total Debt	116.65K	151.05K	55.68K	160.88K	110.90K	50.60K
Total Liabilities	1.19M	511.87K	480.54K	550.13K	694.47K	341.03K
Stockholders Equity	4.58M	5.79M	7.95M	5.39M	13.55M	4.70M
Cash Flow
Free Cash Flow	-769.73K	-2.19M	-4.88M	-2.39M	-5.99M	-1.31M
Operating Cash Flow	-743.98K	-2.19M	-4.88M	-1.64M	-3.97M	-1.07M
Investing Cash Flow	-32.72K	1.83M	4.33M	-1.50M	-11.17M	-990.16K
Financing Cash Flow	-43.06K	-24.83K	-63.30K	2.37M	16.61M	2.92M

Noram Lithium Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NRM, the sentiment is Positive. The current price of 0.12 is above the 20-day moving average (MA) of 0.11, above the 50-day MA of 0.12, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.67 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NRM.

Noram Lithium Corp 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%
ILI	48 Neutral	C$10.22M	-33.33	-1.36%	―	―	-136.00%
NRM	47 Neutral	C$9.84M	-4.26	-41.21%	―	―	48.66%
MUR	47 Neutral	C$8.62M	-5.17	-121.94%	―	―	55.15%
GRG	46 Neutral	C$15.25M	-3.44	-105.74%	―	―	40.18%
SRA	39 Underperform	C$18.92M	34.53	16.97%	―	―	―
AWCM	33 Underperform	C$9.39M	-4.48	-17.86%	―	―	92.11%

Noram Lithium Corp Corporate Events

Noram Lithium Uncovers Potash Potential at Zeus Project

Noram Lithium Corp. has identified potential byproduct opportunities at its Zeus Lithium Project, which could enhance the project’s economics. The discovery of potash, alongside lithium, rubidium, and cesium, positions the Zeus deposit as a multi-commodity resource, potentially offering multiple revenue streams and strengthening its competitive advantage. Further metallurgical testing is needed to confirm these findings, but the presence of these byproducts could positively impact future economic modeling and development plans.

The most recent analyst rating on (TSE:NRM) stock is a Buy with a C$1.14 price target. To see the full list of analyst forecasts on Noram Lithium Corp stock, see the TSE:NRM Stock Forecast page.