Novo Resources Corp (TSE:NVO)
TSX:NVO
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Novo Resources
(TSX:NVO)
Select Model
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Rating:44Neutral
Price Target:
C$0.09
▼(-23.33% Downside)
Action:ReiteratedDate:03/26/26
The score is primarily constrained by weak financial performance (zero recent revenue, persistent losses, and ongoing cash burn despite improvement) and bearish technicals (below key moving averages with negative MACD). Valuation contributes little because the negative P/E reflects losses and no dividend yield is available.
Positive Factors
Low leverage / strong solvency
Very low reported leverage materially reduces near-term solvency risk for an exploration company. This structural strength preserves optionality to pursue transactions, joint ventures or staged development without immediate pressure from creditors, supporting multi-month funding flexibility.
Negative Factors
Effectively zero recent revenue
Absence of recurring revenue means the company's fundamentals depend on speculative exploration outcomes or asset transactions rather than operating cash flow. This structural revenue gap prolongs reliance on external funding and raises execution risk until production or sustained royalties emerge.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong solvency
Very low reported leverage materially reduces near-term solvency risk for an exploration company. This structural strength preserves optionality to pursue transactions, joint ventures or staged development without immediate pressure from creditors, supporting multi-month funding flexibility.
Read all positive factors
Novo Resources (NVO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$35.16M
Dividend YieldN/A
Average Volume (3M)322.94K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees75
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding413,677,900
10 Day Avg. Volume496,204
30 Day Avg. Volume322,941
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)1.07
Price to Sales (P/S)0.00
P/FCF Ratio-4.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Novo Resources Business Overview & Revenue Model
Company Description
Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, exploring, and developing natural resource properties in Canada, Australia, and the United States. The company primarily explores for gold deposits. Its flagsh...
How the Company Makes Money
Novo Resources does not typically generate recurring operating revenue in the way a producing miner does; instead, its economic model is primarily tied to creating value from exploration and development activities and monetizing that value through...
Novo Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 92.04M | 112.24M |
| Gross Profit | -193.00K | -2.15M | -5.96M | -23.64M | 1.48M |
| EBITDA | -22.65M | -19.07M | -43.05M | 15.52M | 39.87M |
| Net Income | -22.39M | -23.23M | -127.81M | -105.42M | -704.00K |
Balance Sheet | |||||
| Total Assets | 61.35M | 85.27M | 106.45M | 256.16M | 462.68M |
| Cash, Cash Equivalents and Short-Term Investments | 7.74M | 10.80M | 11.76M | 48.08M | 32.45M |
| Total Debt | 308.00K | 427.00K | 1.61M | 6.60M | 80.49M |
| Total Liabilities | 15.14M | 15.78M | 21.53M | 68.19M | 148.42M |
| Stockholders Equity | 46.20M | 69.50M | 84.92M | 187.97M | 314.26M |
Cash Flow | |||||
| Free Cash Flow | -12.15M | -16.73M | -49.13M | -51.66M | -38.33M |
| Operating Cash Flow | -12.15M | -16.73M | -47.43M | -46.19M | -19.66M |
| Investing Cash Flow | 9.06M | 19.69M | -1.47M | 119.69M | -7.76M |
| Financing Cash Flow | -169.00K | -3.81M | 12.83M | -57.87M | 19.63M |
Novo Resources Technical Analysis
Negative
0.12
Price Trends
0.13
Negative
0.13
Negative
0.12
Negative
Market Momentum
>-0.01
Negative
39.16
Neutral
80.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NVO, the sentiment is Negative. The current price of 0.12 is above the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.13, and below the 200-day MA of 0.12, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 39.16 is Neutral, neither overbought nor oversold. The STOCH value of 80.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NVO.
Novo Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | C$64.76M | -32.47 | -3.68% | ― | ― | 58.19% | |
53 Neutral | C$61.47M | -5.89 | -27.09% | ― | ― | 40.00% | |
52 Neutral | C$29.55M | 5.25 | 2.73% | ― | ― | ― | |
50 Neutral | C$39.35M | -5.31 | -74.08% | ― | ― | 42.48% | |
44 Neutral | C$35.16M | -2.22 | -36.47% | ― | ― | ― | |
42 Neutral | C$25.16M | -2.66 | -113.96% | ― | ― | -107.64% |
* Basic Materials Sector Average
TSE:NVO
Novo Resources
0.09
>-0.01
-5.56%
TSE:BTR
BonTerra Resources
0.19
-0.02
-11.90%
TSE:LVG
Lake Victoria Gold Ltd
0.32
0.16
103.23%
TSE:WHN
Westhaven Ventures
0.25
0.13
108.33%
TSE:RDG
Ridgeline Minerals
0.21
0.02
13.89%
TSE:QIM
Quimbaya Gold Inc
0.31
-0.12
-27.91%
Novo Resources Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Novo Resources Completes Tranche 1 Placement and Issues Cleansing Notice
Positive
Mar 6, 2026
Novo Resources has completed the first tranche of a previously announced placement, issuing 8.4 million fully paid common shares, 4.2 million warrants and 50,647,619 CHESS Depository Interests to investors. The common shares will trade on the Toro...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
Novo Resources Raises C$5.9m in Placement and Books Major Asset Impairments
Negative
Mar 6, 2026
Novo Resources has completed Tranche 1 of its previously announced capital raising, securing approximately C$5.9 million through a combination of units issued to Canadian investors and Chess Depository Interests sold to investors elsewhere. The co...
Business Operations and StrategyPrivate Placements and Financing
Novo Resources Raises A$8.2m to Accelerate Australian Exploration Push
Positive
Feb 26, 2026
Novo Resources has secured firm commitments to raise about C$7.9 million (approximately A$8.2 million) through a two-tranche placement of units and CHESS Depositary Interests to institutional, professional and sophisticated investors. The company&...
Business Operations and StrategyPrivate Placements and Financing
Novo Resources Launches Discounted C$5.8 Million Private Placement for Exploration Push
Positive
Feb 24, 2026
Novo Resources has launched a proposed private placement of up to C$5.8 million (about A$6 million), offering up to 59.1 million units and/or CDIs to institutional, professional and sophisticated investors at a discount to recent trading prices. E...
Business Operations and Strategy
Novo Resources Updates Corporate Presentation to Showcase Evolving Gold Strategy
Positive
Feb 18, 2026
Novo Resources has released an updated corporate presentation, providing investors with an up-to-date overview of its strategic priorities, exploration results, project milestones and near-term catalysts across its gold portfolio. Management says ...
Business Operations and Strategy
Novo Resources Expands Belltopper Target and Ramps Up 2026 Drilling Across Australian Portfolio
Positive
Feb 12, 2026
Novo Resources has sharply advanced its Australian exploration portfolio, increasing the Exploration Target at its Belltopper Gold Project in Victoria after a detailed geological review, and flagging potential drilling in the second half of 2026 t...
Business Operations and Strategy
Novo boosts Belltopper gold exploration target with higher tonnage and grades
Positive
Feb 11, 2026
Novo Resources has sharply upgraded the exploration target for its Belltopper Gold Project in Victoria after an in‑depth review of local geology, historical data and previous drilling. The updated 2026 target for eight reefs now stands at 2....
Business Operations and Strategy
Novo Defines Drill Targets at Wyloo Gold-Silver-Antimony Project in Pilbara
Positive
Feb 10, 2026
Novo Resources has outlined a series of new high-priority gold, silver and antimony targets at its Wyloo Project in the southern Pilbara, following strong multielement soil and stream-sediment anomalies at the Wyloo SE and SW prospects. The anomal...
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.