Orex Minerals (REX) AI Stock Analysis

• Market Cap: C$12.31M
• Dividend Yield: N/A
• Average Volume (3M): 86.83K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.31
• Revenue Growth: N/A
• EPS Growth: -42.55%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 36,220,577
• 10 Day Avg. Volume: 56,588
• 30 Day Avg. Volume: 86,834
• PEG Ratio: -0.11
• Price to Book (P/B): 1.54
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.70
• 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$0.34 ▲(16.55% Upside)
• Action: Reiterated Date: 01/13/26
• Date: Action: Reiterated 01/13/26

The score is held down primarily by very weak financial performance (no revenue, sustained losses, and continued cash burn with shrinking equity). Technical momentum is a key offset (price above major moving averages with positive MACD), while valuation provides limited support due to negative earnings and no dividend yield data.

Positive Factors

Debt-free balance sheet

A debt-free balance sheet removes fixed interest obligations and preserves financing optionality for exploration or development. For a cash-consuming junior, lack of debt materially reduces bankruptcy risk and gives management time to pursue strategic financings or partnerships without immediate repayment pressure.

Intermittent cash-burn improvement

Periods of reduced operating cash outflows indicate management can moderate spending and extend runway when needed. Sustained cost discipline or targeted program timing can materially lower financing needs over months and supports continued project advancement without continuous dilutive raises.

Lean cost structure (no employees)

Having no permanent employees suggests a lean operating model that relies on contractors or partnerships, keeping fixed overhead low. For an exploration-stage miner, this structural low-cost profile can preserve cash, improve scalability, and provide flexibility to ramp activities as funding permits.

Negative Factors

No revenue, sustained losses

The company lacks operating revenue and has persistent multi-year net losses, indicating it is not yet a revenue-generating enterprise. This structural deficit drives ongoing funding needs, increases dilution risk, and means financial metrics depend on capital raises or non-operating transactions rather than organic cash generation.

Consistent negative cash generation

Repeated negative operating and free cash flow shows the company consumes cash across reporting periods. Persistent cash burn limits strategic flexibility, forces reliance on external financing, and makes long-term project execution contingent on successful capital raises or partner funding rather than internal cash generation.

Eroding equity base and negative ROE

Material decline in shareholder equity and deeply negative returns on equity signal that capital has been consumed rather than compounded. A shrinking equity base heightens vulnerability to dilution, reduces borrowing or financing capacity on favorable terms, and indicates past capital deployment has not produced value.

Orex Minerals Business Overview & Revenue Model

Company Description

Orex Minerals Inc., a mineral exploration company, engages in the acquisition and exploration of mineral properties in Mexico and Canada. It owns interests in the Coneto silver-gold project that covers an area of 16,346 hectares of mineral concessions located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains; the Sandra Escobar silver-gold project situated to the north of the town of Tepehuanes, Durango; and the Jumping Josephine gold project totalling 11,200 hectares located in the West Kootenay region of Southeastern British Columbia. The company was incorporated in 1996 and is headquartered in Vancouver, Canada.

How the Company Makes Money

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Orex Minerals Financial Statement Overview

Summary

Financial performance is very weak: the company reports no revenue, persistent net losses (TTM about -$3.27M), and ongoing cash burn (TTM operating cash flow about -$1.46M). The main positive is a debt-free balance sheet, but equity has eroded materially over time, increasing funding/dilution risk.

Income Statement

Across annual periods and TTM (Trailing-Twelve-Months), the company reports no revenue and consistently negative gross profit, indicating it is not operating as a revenue-generating business. Losses remain significant, with net income roughly in the -$1.9M to -$3.3M range, and TTM net loss of about -$3.27M. A modest positive is that losses were smaller in 2024 versus 2025, but the overall earnings profile remains weak and volatile with no visible path to profitability in the provided data.

Balance Sheet

The balance sheet shows no debt, which reduces financial risk and provides flexibility. However, equity has declined materially over time (from about $8.5M in 2022 to about $1.8M in TTM), reflecting ongoing losses and balance sheet erosion. Returns on equity are deeply negative (TTM around -135%), signaling that shareholder capital is being consumed rather than compounded; while leverage is low, the shrinking equity base is a key concern.

Cash Flow

Cash generation is consistently negative, with operating cash flow and free cash flow both meaningfully below zero in every period (TTM operating cash flow about -$1.46M; annual 2025 about -$2.11M). Free cash flow trends are choppy, including a steep TTM decline versus the prior period, which suggests limited operating stability. While cash burn improved in some years (e.g., 2024 vs 2023/2025), the company remains structurally cash-consuming based on the data provided.

Breakdown	TTM	Jul 2025	Jul 2024	Jul 2023	Apr 2022	Jul 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.68K	-1.68K	-2.99K	-3.99K	-5.32K	-7.09K
EBITDA	-2.39M	-2.56M	-1.40M	-1.77M	-2.03M	-2.49M
Net Income	-3.27M	-3.30M	-1.87M	-2.33M	-2.33M	-2.54M
Balance Sheet
Total Assets	2.94M	2.86M	3.47M	4.61M	8.59M	3.15M
Cash, Cash Equivalents and Short-Term Investments	83.40K	69.05K	27.91K	1.13M	3.30M	5.63M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.13M	524.38K	523.48K	83.42K	66.18K	103.97K
Stockholders Equity	1.80M	2.34M	2.94M	4.52M	8.52M	3.05M
Cash Flow
Free Cash Flow	-1.46M	-2.11M	-1.13M	-1.76M	-2.06M	-1.48M
Operating Cash Flow	-1.46M	-2.11M	-1.13M	-1.76M	-2.06M	-1.48M
Investing Cash Flow	-386.49K	-50.00K	-141.31K	-419.06K	-75.42K	-70.51K
Financing Cash Flow	1.34M	2.20M	171.18K	0.00	7.52M	7.52M

Orex Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.29
• 50DMA: Positive
• 100DMA: Positive
• 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:REX, the sentiment is Positive. The current price of 0.29 is below the 20-day moving average (MA) of 0.33, below the 50-day MA of 0.30, and above the 200-day MA of 0.21, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 57.18 is Neutral, neither overbought nor oversold. The STOCH value of 69.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:REX.

Orex Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PER	68 Neutral	C$23.73M	0.93	14.20%	―	16.85%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
XTM	60 Neutral	C$5.73M	-2.54	67.36%	―	―	―
GLM	50 Neutral	C$13.05M	-11.99	-5.30%	―	―	―
REX	49 Neutral	C$12.31M	-4.52	-133.71%	―	―	-42.55%
LMR	43 Neutral	C$7.78M	-5.42	-28.23%	―	―	-84.65%

Orex Minerals Corporate Events

Orex Minerals Sells Coneto Stake to Silver Viper in US$15 Million Share Deal

Orex Minerals has agreed to sell its 38.79% interest in the Coneto Silver-Gold Project in Durango, Mexico, to Silver Viper Minerals Corp., alongside partner Fresnillo plc, in an all-share deal valued at US$15 million. The Coneto Project, a historic and prolific silver-gold district with extensive mapped epithermal quartz veins, will be fully consolidated under Silver Viper, which will issue 25,531,875 shares to the vendors at a deemed price of C$0.80 per share.

On closing, Orex will receive its pro-rata portion of Silver Viper shares, retaining indirect exposure to Coneto’s exploration upside and to Silver Viper’s La Virginia Gold-Silver Project while exiting as a direct joint-venture participant. The transaction, classified as non-arm’s length due to a shared director and subject to TSX Venture Exchange approval and customary conditions, is positioned by Orex as a way to unlock shareholder value and shift the project to a dedicated Mexican-focused operator, potentially sharpening Orex’s strategic focus on its remaining Mexican and Canadian exploration assets.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.35 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Taps ICP Securities for Automated Market Making to Boost Liquidity

Orex Minerals has engaged Toronto-based ICP Securities Inc. to provide automated market making services for its shares, using ICP’s proprietary ICP Premium algorithm under a four-month initial agreement that renews monthly. The move is aimed at improving liquidity and correcting temporary supply-demand imbalances in Orex’s stock on the TSX Venture Exchange, with ICP acting at arm’s length, bearing its own trading costs, and receiving a fixed cash fee without performance-based or equity-linked compensation.

By outsourcing market making to a specialized CIRO dealer-member, Orex seeks to enhance quote health and trading efficiency in its shares, which could support tighter spreads and better price discovery for investors. The arrangement underlines the company’s ongoing efforts to strengthen its capital markets profile as it advances its portfolio of precious and base metals exploration projects in Mexico and Canada, potentially improving access to institutional and retail stakeholders over time.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Raises $5 Million in Private Placement as Eric Sprott Boosts Stake

Orex Minerals Inc. has closed a non-brokered private placement for gross proceeds of $5 million, issuing 30,303,030 units at $0.165 each, with each unit comprising one common share and a warrant exercisable at $0.22 for 24 months, all subject to contractual and statutory hold periods. The company plans to use the funds to support exploration at its Jumping Josephine Project, meet tax obligations on its properties, maintain reserves for potential transactions, and cover general corporate expenses.

Prominent investor Eric Sprott increased his position to 9.7% on a non-diluted basis and 13.5% on a fully diluted basis, underscoring continued institutional interest in Orex’s exploration potential. The financing also included insider participation deemed a related-party transaction under MI 61-101, for which Orex relied on standard exemptions, while paying modest finder’s fees in cash and units, highlighting a relatively low-cost capital raise that modestly strengthens the company’s balance sheet and exploration runway.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Extends Hold Period and Corrects Terms on Private Placement

Orex Minerals has amended the terms of its previously announced non-brokered private placement, extending the hold period on the securities to 12 months from the date of issuance, significantly longer than the standard four months and one day under Canadian securities laws. The company has also adjusted the anticipated closing date of the offering to on or before March 4, 2026, and corrected the warrant exercise price to $0.22, clarifications that may influence investor expectations and trading liquidity around the financing.

These changes indicate Orex’s intent to align the financing structure with longer-term investors while ensuring accurate disclosure of key economic terms, which is important for market transparency. The extended hold period could limit short-term secondary market activity but may support a more stable shareholder base as the company advances its exploration partnerships and projects in Mexico and Canada.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.36 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Advances Sale of Coneto Stake to Silver Viper

Orex Minerals has confirmed it is moving ahead with the sale of its 38.79% interest in the Coneto Silver-Gold Project in Mexico to Silver Viper Minerals, alongside partner Fresnillo plc, which is divesting its 61.21% stake. Although the parties missed their initial January 2026 target for signing a definitive share purchase agreement, they report steady progress on finalizing terms, securing approvals and satisfying closing conditions, with Orex now set to receive a mix of cash and Silver Viper shares while Fresnillo will be paid solely in Silver Viper equity at a deemed price of CAD$0.80 per share. The transaction values Coneto at about US$15 million and would leave Fresnillo and Orex holding roughly 12% and 7% of Silver Viper, respectively, reinforcing their exposure to the asset through equity rather than direct ownership, while also establishing anti-dilution protections for Fresnillo and a technical committee to guide future project advancement, subject to customary regulatory and shareholder approvals.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.23 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Launches $5 Million Private Placement to Bolster Working Capital

Orex Minerals Inc. has announced plans to raise up to $5 million through a non-brokered private placement of up to 30,303,030 units at $0.165 per unit, each comprising one common share and one two-year warrant exercisable at $0.20. The financing, expected to close around February 12, 2026 subject to TSX Venture Exchange approval and customary conditions, will be used for general working capital and may include finder’s fees, reinforcing Orex’s liquidity position as it advances its exploration partnerships and projects in Mexico and Canada.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.22 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.