Quebec Nickel Corp (QNI) AI Stock Analysis

• Market Cap: C$2.98M
• Dividend Yield: N/A
• Average Volume (3M): 8.20K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.39
• Revenue Growth: N/A
• EPS Growth: -1500.15%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 13,534,420
• 10 Day Avg. Volume: 2,177
• 30 Day Avg. Volume: 8,203
• PEG Ratio: <0.01
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.20
• 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: 49 Neutral
• Price Target: C$0.22 ▲(36.88% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and sustained cash burn despite no debt) and limited valuation support (negative P/E and no dividend). Technicals are a near-term positive with strong momentum above major moving averages, but overbought signals temper the benefit.

Positive Factors

Very low leverage / no reported debt

Zero reported debt gives the company durable financial flexibility versus peers; it reduces immediate solvency risk and preserves borrowing capacity for future exploration financing. For an exploration-stage miner, low leverage lengthens runway and eases execution of capital programs.

Focused nickel exploration in Québec

A clear strategic focus on nickel-bearing properties in Québec concentrates technical expertise and permits/regulatory familiarity. This project-level specialization creates optionality if nickel markets improve and supports repeatable exploration workflows and targeted capital allocation over the medium term.

Improving cash burn trend in latest year

Reduced negative free cash flow in 2025 indicates management has moderated spending or increased efficiency, which can extend runway. A sustained improvement in burn rate reduces near-term financing frequency and lessens dilution risk while the company advances exploration milestones.

Negative Factors

No revenue; persistent operating losses

The absence of operating revenue and repeated negative EBIT classify the firm as pre-revenue and capital reliant. Over the medium term this means ongoing dependency on external funding, higher dilution risk for shareholders, and limited visibility into when—and if—operations become self-sustaining.

Eroding equity and declining assets

Material declines in equity and total assets weaken the company’s financial cushion, increasing vulnerability to adverse exploration results or financing stress. A smaller equity base constrains capacity to absorb write-downs and complicates longer-term project advancement without fresh capital.

Chronic negative operating and free cash flow

Repeated negative operating and free cash flows indicate the business cannot internally finance exploration. Persistent cash burn necessitates frequent external capital raises, which can dilute existing holders and may constrain the pace of drilling and project development over the next several quarters.

Quebec Nickel Corp Business Overview & Revenue Model

Company Description

Quebec Nickel Corp. engages in the acquisition, exploration, and development of mineral resource properties. The company explores for nickel, copper, and platinum group element deposits. It holds 100% in the Ducros property that comprises 280 contiguous mining claims covering an area of 15,147 hectares located in the Val d'Or area of Quebec, Canada. The company was incorporated in 2020 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Quebec Nickel Corp makes money through the exploration and potential future extraction and sale of nickel, copper, and platinum group elements from its mineral properties. The company generates revenue by discovering and proving the existence of economically viable mineral deposits and then either developing these deposits into operational mines or partnering with or selling the rights to larger mining companies. Additionally, the company may seek joint ventures or strategic partnerships to fund exploration activities and share the financial and operational risks associated with developing mineral resources. Key revenue streams include royalties, sale of extracted minerals, and proceeds from any partnerships or joint ventures.

Quebec Nickel Corp Financial Statement Overview

Summary

Financials reflect a development-stage profile: no revenue reported, persistent negative EBIT, and consistently negative operating and free cash flow. The key offset is zero reported debt, but equity and assets declined materially in the most recent period, increasing reliance on external funding.

Income Statement

The company reports no revenue across the annual periods provided, while operating losses persist (EBIT negative each year). Profitability is volatile: 2024 shows positive net income, but 2025 swung back to a sizable net loss, indicating earnings are likely driven by non-operating items rather than core business performance. Overall, the income statement reflects an early-stage/asset-focused profile with limited visibility into sustainable operating profitability.

Balance Sheet

Leverage appears very low with total debt reported at zero, which reduces financial risk. However, the equity base has contracted sharply from 2024 to 2025 alongside ongoing losses, and returns on equity flipped from positive in 2024 to deeply negative in 2025. Assets also declined meaningfully versus prior years, suggesting reduced financial cushion compared with the recent peak.

Cash Flow

Cash generation is weak, with operating cash flow negative in every year shown and free cash flow consistently negative. While cash burn improved in 2025 versus 2024 (less negative free cash flow), the business still requires funding to sustain operations. The pattern of negative operating cash flow alongside volatile net income also raises questions about the quality and repeatability of reported earnings.

Breakdown	TTM	Dec 2025	Dec 2024	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	0.00	0.00	0.00
EBITDA	-472.77K	-14.40M	-1.13M	-1.27M	-1.64M	-104.52K
Net Income	-12.50M	-12.50M	1.30M	-1.89M	-2.87M	-104.52K
Balance Sheet
Total Assets	1.37M	1.37M	15.60M	17.68M	9.22M	1.42M
Cash, Cash Equivalents and Short-Term Investments	1.31M	1.31M	1.43M	5.32M	7.15M	1.08M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	51.34K	51.34K	1.71M	5.11M	1.80M	8.00K
Stockholders Equity	1.32M	1.32M	13.88M	12.57M	7.42M	1.41M
Cash Flow
Free Cash Flow	-439.09K	-384.50K	-3.87M	-10.44M	-1.76M	-192.87K
Operating Cash Flow	-384.50K	-384.50K	-1.26M	-1.64M	-897.35K	-58.05K
Investing Cash Flow	18.60K	18.60K	-2.61M	-8.81M	-858.74K	-134.82K
Financing Cash Flow	246.54K	246.54K	-17.07K	8.61M	7.82M	1.28M

Quebec Nickel Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.16
• 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:QNI, the sentiment is Positive. The current price of 0.16 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.16, and above the 200-day MA of 0.13, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 60.79 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:QNI.

Quebec Nickel 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%
QNI	49 Neutral	C$2.98M	-0.24	-166.29%	―	―	-1500.15%
NNX	45 Neutral	C$5.27M	-10.42	―	―	―	14.29%
GEMC	45 Neutral	C$2.37M	-3.65	-15.45%	―	―	38.06%
QBAT	45 Neutral	C$2.78M	-2.58	-14.59%	―	―	-36.33%
COS	39 Underperform	C$1.84M	―	―	―	―	―

Quebec Nickel Corp Corporate Events

Québec Nickel Fully Allocates $500,000 Private Placement

Québec Nickel Corp. has fully allocated its previously announced non-brokered private placement, raising gross proceeds of $500,000, with participation from both existing and new shareholders. The financing, which remains subject to Canadian Securities Exchange approval and will carry a standard four‑month-plus-one‑day hold period on issued securities, modestly strengthens the company’s balance sheet as it advances its critical metals exploration portfolio, underscoring continued investor interest in its North American assets despite a challenging junior mining capital markets environment.

Québec Nickel Moves Into Nevada Gold With Ecru Property Deal and Board Expansion

Québec Nickel Corp. has signed a non-binding letter of intent with Orogen Royalties Inc. to acquire a 100% interest in the Ecru Property in Nevada’s prolific Cortez/Battle Mountain gold trend for total consideration of $505,000 in cash and shares, plus a 2.0% net smelter return royalty. The Ecru project, which covers 112 lode claims adjacent to Nevada Gold Mines’ Robertson deposit, comes with historical drilling and geophysical work that outline multiple untested targets with potential for both intrusive-related and Carlin-type gold mineralization, and Québec Nickel plans systematic technical review and exploration, including a NI 43-101 report, if the deal closes. The company also strengthened its board with the appointment of experienced geologist and Antares Metals CEO Johan Lambrechts, and announced plans for a non-brokered private placement of up to $500,000, underscoring its strategy to build a disciplined, technically driven portfolio of exploration assets in tier-one mining jurisdictions.