New Pacific Metals (NUAG) AI Stock Analysis

• Market Cap: C$1.15B
• Dividend Yield: N/A
• Average Volume (3M): 356.90K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.62
• Revenue Growth: N/A
• EPS Growth: 40.00%
• Country: CA
• Employees: 32
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): -0.01
• Shares Outstanding: 184,022,690
• 10 Day Avg. Volume: 426,015
• 30 Day Avg. Volume: 356,902
• PEG Ratio: 1.51
• Price to Book (P/B): 2.35
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -50.01
• 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: C$8.10
• Price Target Upside: 29.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.02
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: C$6.50 ▲(3.67% Upside)
• Action: Reiterated Date: 02/24/26
• Date: Action: Reiterated 02/24/26

The score is held back primarily by the company’s pre-revenue profile, continued losses, and ongoing cash burn, despite recent improvement. A strong, debt-free balance sheet is a key stabilizer, while technicals are supportive with the stock trading above major moving averages. Valuation remains challenged due to negative earnings and no dividend yield provided.

Positive Factors

Debt-free balance sheet

A zero-debt capital structure and sizable equity base materially reduce financial leverage risk and increase strategic optionality. This conservatively financed position gives management runway to fund exploration, technical studies and permitting without immediate debt pressure, supporting medium-term project advancement and stability.

Improving loss trajectory

The company has reduced its net losses versus prior years, reflecting improved cost control or operational efficiency. A narrowing loss trend lowers near-term financing needs, extends cash runway and signals management is moving the business closer to a sustainable cost base as exploration programs mature.

Focused exploration business model

A clear strategic focus on precious-metal exploration, especially silver in Bolivia, provides concentrated technical expertise and project focus. This specialization supports efficient capital allocation toward resource definition and technical studies, aligning the company with structural demand for metals and enabling clearer pathways to development or JV partnerships.

Negative Factors

Pre-revenue operations

Being pre-revenue is a structural constraint: the business lacks operating income and must rely on external capital to fund exploration and studies. This creates uncertainty around timing to commercialization, makes long-term planning dependent on financing cycles, and leaves execution outcomes and value realization unproven.

Persistent negative cash flow

Sustained negative operating and free cash flow indicate ongoing cash burn and dependence on external funding for operations. This elevates dilution or financing risk, constrains the pace of exploration and technical work, and could delay project milestones if capital markets conditions tighten over the medium term.

Negative ROE; capitalization changes

A negative ROE shows current capital is not generating returns and raises questions about capital efficiency. Material increases in equity and assets imply recent capitalization or dilution events; if further issuance is needed, shareholders face dilution risk and future ROE improvement will depend on successful project advancement and value generation.

New Pacific Metals Business Overview & Revenue Model

Company Description

New Pacific Metals Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Bolivia and Canada. It explores for silver, gold, lead, and zinc deposits. The company's flagship property is the Silver Sand property, which cover an area of 5.42 square kilometers located in the Potosí Department, Bolivia. It also owns Silverstrike property located in southwest of La Paz, Bolivia; and Carangas property located in La Ruta de la Plata. The company was formerly known as New Pacific Holdings Corp. and changed its name to New Pacific Metals Corp. in July 2017. New Pacific Metals Corp. is headquartered in Vancouver, Canada.

How the Company Makes Money

New Pacific Metals generates revenue primarily through the exploration and development of mineral properties with a focus on silver and gold. The company's business model involves acquiring promising mineral assets, conducting extensive exploration and development activities, and advancing these projects towards production. Revenue is eventually realized through the sale of extracted metals or through strategic partnerships and joint ventures with other mining companies. Additionally, New Pacific Metals may enter into agreements with other companies to monetize its assets, providing further revenue streams. Key factors contributing to its earnings include successful exploration results, favorable market conditions for precious metals, and partnerships with local and international entities that facilitate project development and eventual extraction.

New Pacific Metals Financial Statement Overview

Summary

Pre-revenue with ongoing operating and net losses and negative free cash flow indicates weak operating fundamentals. Offsetting this, the company has a strong, debt-free balance sheet with sizable equity, reducing financial leverage risk, and losses/cash burn have improved versus prior periods.

Income Statement

Across both TTM (Trailing-Twelve-Months) and annual periods, the company reports no revenue and consistently negative profitability, with sizable operating losses and net losses. Losses have improved versus FY2024 (net loss narrowed from about -$8.2M to -$3.8M in FY2025, and to about -$5.0M in TTM), but the core issue remains: the business is still pre-revenue and loss-making, which limits earnings quality and visibility.

Balance Sheet

The balance sheet is a key strength: total debt is reported at $0 across periods, and equity is sizable (about $220.0M in TTM) relative to total assets (about $221.4M), indicating a conservatively financed structure. The main weakness is persistent negative returns on equity (roughly -2.6% TTM), reflecting ongoing losses; additionally, equity and assets increased materially versus FY2025, suggesting changes in capitalization or asset base that investors should monitor for sustainability and dilution risk (not provided).

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in every period shown, with TTM operating cash flow around -$4.3M and free cash flow around -$8.0M, implying continued cash burn. A positive data point is that free cash flow burn improved versus FY2024 (less negative), and free cash flow has been less negative in recent years than the FY2023 trough; however, cash flow remains dependent on funding rather than operations given the lack of revenue.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-223.89K	-201.37K	-274.00K	-214.00K	-174.00K	-44.00K
EBITDA	-6.41M	-3.67M	-8.36M	-9.55M	-6.76M	-6.44M
Net Income	-4.97M	-3.85M	-8.24M	-8.10M	-6.62M	-7.19M
Balance Sheet
Total Assets	221.43M	135.22M	137.67M	118.31M	124.08M	126.82M
Cash, Cash Equivalents and Short-Term Investments	56.95M	23.25M	22.21M	6.49M	29.51M	46.59M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.39M	927.45K	1.21M	2.34M	3.87M	1.09M
Stockholders Equity	220.04M	134.29M	136.61M	116.08M	120.28M	125.73M
Cash Flow
Free Cash Flow	-7.96M	-6.31M	-8.89M	-23.63M	-16.20M	-9.03M
Operating Cash Flow	-4.31M	-3.26M	-4.01M	-5.51M	-4.56M	-4.60M
Investing Cash Flow	-3.17M	-2.75M	-4.51M	-17.03M	-13.05M	17.60M
Financing Cash Flow	38.18M	6.35K	24.58M	825.12K	1.78M	1.08M

New Pacific Metals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.27
• 50DMA: Positive
• 100DMA: Positive
• 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:NUAG, the sentiment is Neutral. The current price of 6.27 is above the 20-day moving average (MA) of 6.11, above the 50-day MA of 5.53, and above the 200-day MA of 3.54, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 51.56 is Neutral, neither overbought nor oversold. The STOCH value of 37.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NUAG.

New Pacific Metals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASM	74 Outperform	$1.66B	25.18	14.35%	―	65.77%	458.38%
ITR	71 Outperform	C$846.53M	-21.18	15.43%	―	―	―
GGD	71 Outperform	$1.25B	16.04	5.38%	―	104.08%	832.86%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NUAG	53 Neutral	C$1.15B	―	-2.78%	―	―	40.00%
BRC	50 Neutral	C$661.33M	-9.37	-151.33%	―	―	-198.87%
SLVR	49 Neutral	C$479.96M	-55.40	-4.86%	―	―	-14.43%

New Pacific Metals Corporate Events

New Pacific Secures Community Framework Deal to Advance Carangas Silver-Gold Project in Bolivia

New Pacific Metals has signed a Framework Agreement for Cooperation and Coordination with the Carangas Indigenous community in Bolivia for its Carangas silver-gold project, establishing a long-term partnership based on transparency, mutual benefit, and respect for ancestral land rights. The deal commits the company to environmental compliance, social and economic support programs, local procurement, community resettlement with improved infrastructure, and annual contributions to a development fund, while the community agrees to back permitting, consultation, and operational access.

This agreement is described as a key milestone that paves the way to complete formal prior consultation with Bolivian authorities and then seek conversion of exploration licenses into mining permits, moving Carangas closer to production. Once permits are granted, New Pacific plans to initiate a feasibility study, upgrade known resources through infill drilling, and launch a 2026 exploration campaign of more than 30,000 metres targeting deeper gold zones and new geophysical anomalies, potentially enhancing the project’s resource base and long-term value for stakeholders.

The most recent analyst rating on (TSE:NUAG) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on New Pacific Metals stock, see the TSE:NUAG Stock Forecast page.

New Pacific Metals Secures Community Framework Pact to Advance Carangas Project in Bolivia

New Pacific Metals has signed a Framework Agreement for Cooperation and Coordination with the Carangas Indigenous community in Bolivia, setting out commitments on transparency, respect for ancestral land rights, environmental compliance, and broad social and economic support measures. The deal includes annual contributions to a community development fund, local sourcing of goods and services, village resettlement with upgraded infrastructure, and formal backing from TIOC Carangas for permitting, exploration, construction, and future operations at the Carangas silver-gold project.

The agreement is described as a key milestone for advancing Carangas toward production, enabling completion of the formal prior consultation process with Bolivian authorities and subsequent applications to convert exploration licenses into mining permits. Once permits are granted, New Pacific plans to launch a feasibility study, undertake infill drilling to upgrade resources, and carry out a more than 30,000-metre drilling campaign targeting deeper gold zones and new geophysical anomalies, steps that could materially advance the project’s development and bolster the company’s position in Bolivia’s precious metals sector.

The most recent analyst rating on (TSE:NUAG) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on New Pacific Metals stock, see the TSE:NUAG Stock Forecast page.

New Pacific Posts Modest Loss as Bolivia Moves to Modernize Mining Laws

New Pacific Metals reported a net loss of $1.58 million for the quarter and $2.33 million for the six months ended December 31, 2025, modestly higher than a year earlier, while maintaining a strong working capital position of $41 million. The company continued to invest in its Bolivian projects, capitalizing $1.18 million at Silver Sand, $0.40 million at Carangas, and $0.04 million at Silverstrike, as Bolivia’s new market-oriented government moves to modernize mining laws, potentially improving the regulatory and investment landscape for New Pacific’s operations.

Operating expenses declined year over year for both the quarter and the half, partially offset by higher investment income and a foreign exchange loss in the quarter, highlighting disciplined cost control amid currency volatility. Management is actively engaging with Bolivian authorities at all levels, positioning the company to benefit from reduced bureaucracy, stronger legal certainty, and efforts to attract foreign capital into the country’s mining sector.

The most recent analyst rating on (TSE:NUAG) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on New Pacific Metals stock, see the TSE:NUAG Stock Forecast page.