Group Ten Metals (PGE) AI Stock Analysis

• Market Cap: C$152.29M
• Dividend Yield: N/A
• Average Volume (3M): 894.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: N/A
• EPS Growth: -89.71%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.02
• Shares Outstanding: 310,787,080
• 10 Day Avg. Volume: 464,281
• 30 Day Avg. Volume: 894,907
• PEG Ratio: 0.25
• Price to Book (P/B): 7.60
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.75
• 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$0.48 ▲(2.77% Upside)

The score is primarily held back by weak financial performance (no revenue, recurring losses, and continued cash burn despite a debt-free balance sheet). Technicals are supportive due to a strong trend above moving averages, but overbought momentum signals add risk. Valuation is constrained by negative earnings and no provided dividend yield.

Positive Factors

Debt-free balance sheet

Zero reported debt and rising equity/assets provide durable solvency relief and lengthen the runway for exploration. A debt-free capital structure reduces refinancing risk and preserves strategic optionality to pursue JVs or asset transactions without the immediate pressure of interest or principal repayments.

Strategic asset position

Holding PGE‑rich targets in the Stillwater district is a structural advantage: district-scale PGE assets attract partner interest and provide clearer pathways to joint ventures or asset monetization. Geological quality and location support long-term commercial optionality for an exploration company.

Multiple monetization pathways

As an exploration issuer the company retains durable exit optionality via asset sales, earn-ins, or JV/development deals. These established industry monetization routes can de-risk capex for the company, enable non-dilutive value realization, and accelerate advancement through partner funding or offtake arrangements.

Negative Factors

No revenue and persistent losses

The company reports no operating revenue and material recurring net losses, reflecting that core operations are not yet value-generating. Persistent losses consume equity and require frequent external funding, constraining long-term project advancement without dilution or asset disposals.

Weak cash generation / high burn

Sustained negative operating and free cash flow indicate the company depends on financing to continue exploration. Even with some free-cash-flow improvement, ongoing burn raises execution risk, shortens independent runway, and increases the likelihood of dilutive financings or delayed project work.

Capital erosion risk (negative ROE)

A TTM ROE near -126% signals operations are destroying shareholder capital. If substantial losses persist, the equity base can be eroded over time, limiting the company’s ability to fund exploration internally and making it harder to negotiate favorable partner terms or attract long-term investors.

Group Ten Metals Business Overview & Revenue Model

Company Description

Stillwater Critical Minerals Corp., a mineral exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company explores for gold, platinum group metals, palladium, nickel, copper, and cobalt deposits. Its flagship project is the 100%-owned Stillwater West project that comprise 763 claims covering an area of approximately 61 square kilometers located in Stillwater District, Montana. The company was formerly known as Group Ten Metals Inc. and changed its name to Stillwater Critical Minerals Corp. in June 2022. Stillwater Critical Minerals Corp. was headquartered in Vancouver, Canada.

How the Company Makes Money

Group Ten Metals makes money through the exploration and potential future development and production of mineral resources. The company's primary revenue model involves the discovery and subsequent sale or joint venture development of its mineral properties. Key revenue streams include securing strategic partnerships or joint ventures with larger mining companies, licensing mineral rights, and potentially selling mineral resources once they are extracted. Additionally, Group Ten Metals may raise capital through equity financing, which provides funds for exploration and development activities. Significant factors contributing to its earnings include successful exploration results, favorable market conditions for metals, and effective management of exploration and development operations.

Group Ten Metals Financial Statement Overview

Summary

Income statement and cash flow are very weak: no reported revenue, persistent net losses, and ongoing negative operating/free cash flow implying continued funding needs. The main offset is a debt-free balance sheet with an equity cushion, which reduces solvency risk but does not resolve the underlying burn rate.

Income Statement

TTM (Trailing-Twelve-Months) revenue remains at $0, consistent with prior annual periods, indicating no operating scale yet. Losses are persistent and sizable (TTM net loss of about $8.0M vs. annual net losses of ~$3.8M in 2025 and ~$5.5M in 2024), showing continued cash-consuming operations with no clear path to profitability in the reported numbers. A positive note is that the company carries no debt, which limits financial strain, but overall earnings quality is weak due to recurring losses.

Balance Sheet

The balance sheet is conservatively positioned with $0 total debt across periods, reducing refinancing and solvency risk. Stockholders’ equity improved to ~$7.3M in TTM (Trailing-Twelve-Months) from ~$5.2M in the 2025 annual report, and assets rose to ~$9.5M, suggesting some capital support. The main weakness is ongoing heavy losses, reflected in deeply negative returns on equity (TTM roughly -126%), which can erode the equity base over time if losses persist.

Cash Flow

Cash generation is weak, with negative operating cash flow in every period (TTM operating cash flow about -$5.9M) and negative free cash flow (TTM about -$6.2M), implying continued funding needs. While free cash flow moved favorably versus the prior annual period (TTM free cash flow growth is positive), the company is still burning cash. A mitigating factor is that free cash flow tracks reported losses relatively closely (TTM free cash flow is slightly larger than net loss in magnitude), but the overall profile remains high-burn and dependent on external financing.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	-833.00	-7.96K	-648.00
EBITDA	-7.90M	0.00	-4.31M	-350.00K	-7.26M	-5.57M
Net Income	-8.04M	-3.79M	-4.31M	-5.53M	-7.26M	-5.57M
Balance Sheet
Total Assets	9.47M	5.81M	4.76M	4.93M	6.73M	6.41M
Cash, Cash Equivalents and Short-Term Investments	3.89M	943.77K	417.39K	611.47K	2.40M	2.51M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	2.18M	626.15K	466.90K	735.77K	417.29K	197.25K
Stockholders Equity	7.29M	5.19M	4.29M	4.20M	6.31M	6.21M
Cash Flow
Free Cash Flow	-6.22M	-4.50M	-3.76M	-4.72M	-6.85M	-5.26M
Operating Cash Flow	-5.93M	-4.22M	-3.53M	-4.48M	-6.62M	-5.00M
Investing Cash Flow	-298.55K	-293.08K	-230.66K	-246.10K	-209.84K	-255.15K
Financing Cash Flow	8.97M	4.60M	1.38M	4.85M	6.72M	5.50M

Group Ten Metals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.47
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PGE, the sentiment is Negative. The current price of 0.47 is below the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.46, and above the 200-day MA of 0.33, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 40.22 is Neutral, neither overbought nor oversold. The STOCH value of 20.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PGE.

Group Ten Metals 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%
FPX	55 Neutral	C$163.63M	-39.29	-6.27%	―	―	-60.92%
CCCM	51 Neutral	C$129.85M	-38.12	-4.33%	―	―	10.13%
ELBM	51 Neutral	C$122.53M	-0.64	-49.48%	―	―	62.30%
PGE	47 Neutral	C$152.29M	-12.20	-120.57%	―	―	-89.71%
NILI	47 Neutral	C$144.46M	-15.96	-52.53%	―	―	19.92%
EMO	42 Neutral	C$156.36M	-10.08	-46.38%	―	―	19.55%

Group Ten Metals Corporate Events

Stillwater Critical Minerals Raises C$17 Million to Advance Montana Project

Stillwater Critical Minerals has closed a bought-deal private placement raising gross proceeds of C$17.0 million through the sale of nearly 37 million units at C$0.46 each, with each unit comprising one common share and a half warrant exercisable at C$0.64 until the end of 2028. The funds will be directed primarily toward exploration and advancement of the Stillwater West critical minerals project in Montana, as well as general corporate purposes, leaving the company well financed for its 2026 field season and positioning it to pursue near-term milestones such as drill results, government-related developments and an updated mineral resource estimate, subject to final approval from the TSX Venture Exchange.

The most recent analyst rating on (TSE:PGE) stock is a Hold with a C$0.45 price target. To see the full list of analyst forecasts on Group Ten Metals stock, see the TSE:PGE Stock Forecast page.

Stillwater Critical Minerals Upsizes Private Placement to C$15 Million

Stillwater Critical Minerals Corp. has announced an increase in its ‘bought deal’ private placement from C$10 million to C$15 million due to strong investor demand. The proceeds will be used for exploration and advancement of the Stillwater West Ni-PGE-Cu-Co+Au project in Montana, as well as for general corporate purposes. The offering is expected to close by December 30, 2025, pending regulatory approvals.

Stillwater Critical Minerals Secures C$10 Million Through Bought Deal Private Placement

Stillwater Critical Minerals has announced a bought deal private placement agreement with Red Cloud Securities and Research Capital Corporation to raise gross proceeds of C$10 million. The funds will be used for the exploration and advancement of the Stillwater West project and general corporate purposes. The offering includes the sale of 21,740,000 units, each consisting of one common share and one-half of a common share purchase warrant, with the potential for additional proceeds through an over-allotment option. This financing move is expected to bolster Stillwater’s operational capabilities and enhance its position in the critical minerals market.

Stillwater Critical Minerals Navigates Market Volatility with Strategic Initiatives

Stillwater Critical Minerals Corp. reported no undisclosed material changes to account for the recent decline in its share price, attributing it to broader market volatility affecting the mining and metals sector. The company is advancing key initiatives, including pending assay results from its Stillwater West Project and an updated Mineral Resource Estimate, while maintaining positive government engagement and exploring partnerships to expand its critical mineral resources. Positioned to benefit from U.S. policy momentum and demand for domestic sources of essential metals, Stillwater is actively participating in upcoming industry events to further its strategic goals.